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Is It Possible to Get a Military Access Loan With No Credit?

a soldier applies for a personal military loan on his laptop

Life is unpredictable for everyone. But military families know that the unpredictability can be multiplied exponentially for them -- between PCS moves, new jobs, and new challenges, the only constant is change. While each day can bring something new and exciting, it all typically has one thing in common: It all seems to cost money. Maybe you’ve considered a loan, but what if you have no credit?

In a perfect world, everyone would have an emergency fund to help cover unexpected expenses, but sometimes that’s not an option. But a Military Access Loan could be the right choice for you -- even if you have little to no credit.

Keep reading to learn more about our Military Access Loans and how they can benefit military families.

How to Get a Loan With Little or No Credit

The Armed Forces Bank Military Access Loan* is a type of unsecured personal installment loan. In an unsecured personal installment loan, an amount of money is borrowed and paid back in installments along with interest. You don’t have to borrow against any collateral, such as your home or car.

While many unsecured personal loans are based solely on a credit score, that’s not the case with our Military Access Loan. No matter whether you have less-than-perfect credit history, or even no credit at all, the Military Access Loan could be an option for you.

At Armed Forces Bank, we feel that our military members and families deserve flexibility when they need funds. You can borrow anywhere from $750 up to $15,000 with a short and simple loan application.

We’ll put you in the driver’s seat to pick the offer that works best for you and your situation. Our Military Access Loan is a fixed-term, fixed-payment loan that you can use for any purpose.

If you have a less-than-perfect credit score, or no credit, the best option for you would be to complete the short application. You’ll know in just moments how we can help.

What Are the Benefits of Armed Forces Bank Military Access Loans?

Our Military Access Loan offers flexible terms and no early repayment fees. An Armed Forces Bank personal installment loan gives you access to the cash you need without breaking your budget.

Loan proceeds can be used to help with household expenses, cover education costs, fund travel or vacations, and more. There are no stipulations of what you can or can’t use the loan for.

Here are some of the features of our Military Access Loan:

  • Expanded credit options for existing Armed Forces Bank clients
  • Credit options for borrowers with little or no credit history
  • Fixed terms and monthly payments to simplify your budget
  • Automated payments are available, so you'll never miss one

How to Apply for the Armed Forces Bank Military Loan

For existing clients of Armed Forces Bank, the Access Loan can take you from application to money in your Armed Forces Bank checking account in just a few minutes.

Here’s how to get started:

1.  Apply online in just minutes

2.  See instant-approval status

3.  Receive and accept the loan offer

4.  Get quick access to the money in your Armed Forces Bank account

If You Are Already an Armed Forces Bank Client

Your loan will be deposited directly to your account. If you are new to Armed Forces Bank, a new Access Digital Checking account will be set up first, and then your loan proceeds will be deposited there.

For new clients to the bank that have not yet had the opportunity to build on your relationship with us, the Access Loan will still provide a simple and streamlined experience for you to move from application to money in hand. You can apply online with the same streamlined application.

If You Are Not Yet an Armed Forces Bank Client

If you are not yet an Armed Forces Bank client, and you are Active Duty, Career-Retired or Medically Retired, you still are able to experience the online digitally enabled process to obtain and Access Loan. 

If you don’t have an immediate need for a loan right now, we’d encourage you to open an Armed Forces Bank checking account. This will allow you to have the most expedited service when the need to borrow arises.

A Stepping Stone to a Better Financial Future

If you have no credit or little credit, an Armed Forces Bank Access Loan can do more than just help you get the funds you need, when you need them. It can even help you establish a positive credit history. Making on-time payments can help you be successful on your credit building journey.

Looking for more ways to improve your credit and credit score? Consider an Armed Forces Bank Credit Builder Credit Card.**

Armed Forces Bank Is Proud to Serve Military Families

Armed Forces Bank is proud to be a family-owned military bank. Our mission is to provide a superior banking experience with fast, easy, and personal service. We’ve been serving active duty and career retired military service members, and their families, for more than 100 years.

And we’d love nothing more than to be your go-to bank for your personal credit needs.

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*Subject to credit approval.  Restrictions apply.  Annual Percentage Rate is based on credit score. Only one personal loan allowed to any borrower at any time. Loan terms are based on the loan amount.  Origination fee applies.  Demand deposit relationship required.  Refinance applicants must qualify for a minimum of $250 in additional cash for approval.

**Subject to credit approval. Improved credit score is not guaranteed. Credit score is determined by credit reporting agencies based on multiple factors, but satisfactory performance on a credit card product can improve your credit score. Default on a credit card, including missed or late payments can damage your credit score. Once added, funds cannot be withdrawn from the savings account without closing the savings account and the credit card.