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Unsecured Military Loans: What You Need to Know

a boy hugs his military parent

Life has a way of slinging curveballs our way. For a military family, those curveballs take on different forms at times. One thing they often have in common is that they can bring financial consequences. Whether the refrigerator needs replaced, the car needs new tires, or we need to pay for the utility deposits at yet another duty station. It always seems to cost money. Could a military loan help?

While everyone should ideally have an emergency savings fund, there will be times when that isn’t an option to cover such expenses. And when that occasion arises, an unsecured personal installment loan may be a great option for you to consider.

Keep reading to learn more about unsecured personal installment loans -- our Military Access Loans -- and how they can benefit military families.

What Is an Unsecured Personal Installment Loan?

An unsecured personal installment loan is a type of loan where an amount of money is borrowed and paid back in installments along with interest. Because it’s an unsecured personal loan, you’re not borrowing against any collateral, such as your home or car. Instead, the loan is based on your creditworthiness.

With Armed Forces Bank, the military members and families we serve have the opportunity to apply for our Armed Forces Bank Access Loan*. It’s a type of unsecured personal military loan.

The Armed Forces Bank Access Loan provides flexibility when you need funds, anywhere from $750 up to $15,000. With a short and simple loan application, we put you in the driver’s seat to pick the offer that works best for you and your situation. The unsecured military loan is a fixed-term, fixed-payment loan that you can use for any purpose.

If you have a less-than-perfect credit score, the best option for you would be to complete the short application. You’ll know in just moments how we can help.

Benefits of Armed Forces Bank Unsecured Military Loans

Our military personal loans offer 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.

Check out 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 can our unsecured military loans help you and your family? Consider this real-life example of how an access loan helped one of our Armed Forces Bank clients.

This client went through a tough divorce, and as a result, they had to absorb responsibility for several debts. After responsibly using our Credit Builder secured credit card, our client recently came in and was approved for a $5,000 access loan.

This loan helped our client to turn a page and resolve remaining debts that lingered. And the relief on our client’s face was priceless.

Every loan has a story, and we want to help yours have a happy ending, too.

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 mere minutes!

Here are the steps to take in order 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 an 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 checking account will be set up first, and then your loan proceeds will be deposited there.

If you are not yet a client of the bank but anticipate a need for the Access Loan in the future, we would encourage you to go ahead and establish yourself as one of our clients. This way, when the time is right for you to borrow, you are ready to go! We’d love to have the opportunity for you to be a client.

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.

You can apply online anytime day or night. Be sure to ask questions, understand the terms, and be confident in your understanding of your new Access Loan. Most importantly, if you do not understand something, do not be afraid to ask the question. We are here to help.

Let Armed Forces Bank Be Your Partner

Armed Forces Bank is 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.

Member FDIC.
*Subject to credit approval. The Armed Forces Bank Access Loan requires a checking account with Armed Forces Bank with direct deposit. Origination Fee applies.