Personal Lifestyle Loans

We've Lowered our Lifestyle Loan Rates! 

If you could use some extra cash to cover unexpected expenses, consolidate debt, take a vacation, pay for home improvements or other items, now is the time to apply. We've just lowered our lifestyle/personal loan rates. Choose the term that works best for you and apply today! 

Back to School Loans as low as 7.99% APR*

It's time to kick start the school year and prepare your student for learning. With our Back to School Loan, you can borrow up to $5,000 to purchase: ​

  • clothing, shoes and backpacks
  • college dorm room furnishings
  • computers, tablets and other school supplies 

Apply in time to get your money for upcoming Tax Free holidays:

  • Virginia: August 3-5
  • Maryland: August 12-18
    Visit www.freetaxweekend.com for details
     
  • Apply online
  • Call 844-709-8900
  • Stop by a branch

*APR = Annual Percentage Rate. APR is based on evaluation of credit history, so your rate may differ. APR will range from 7.99% to 18.00% with loan term of up to 24 months. Back to School Loan offer valid 7/1/18 – 8/30/18. Funds will be deposited into member’s primary savings account. Loan payment example: Loan amount of $5,000 for 24 months at 7.99% APR will have a monthly payment of $226.88.

Loan Rates
Loan Type Minimum Loan Amount Term APR*as low as
Lifestyle & Personal Loan $500 up to 24 months 7.99%
Lifestyle & Personal Loan $2,000 25-36 months 8.24%
Lifestyle & Personal Loan $3,000 37-60 months 9.99%
Lifestyle & Personal Loan 

$5,000

61-84 months 10.99%
Line of Credit  N/A  N/A  11.65%1
Savings Secured N/A 60 months 2.80%
Savings Secured N/A 120 months 2.80%2

*APR=Annual Percentage Rate. Rate is current as of August 1, 2018 and is subject to change without notice. Rate is based on an evaluation of credit history, so your rate may differ.A sample principal and interest payment on a $8,000 fixed rate lifestyle loan at 7.99% APR for 24 months is $363.00.

1Your initial Annual Percentage Rate (APR) will range from 11.65% to 18.00% based on your creditworthiness. After this, your APR is subject to change monthly based on the Prime Rate published in the Wall Street Journal on the last business day of the prior month.

2Rate is variable. Contact Northwest Federal for more details.

Savings secured loan payment example:  savings secured loan amount of $5,000 for 60 months at 3.00% APR will have an estimated monthly payment of $89.95. 

 

Loan Types

With a revolving Line of Credit (LOC), you’ll enjoy the flexibility of borrowing funds when you need them. Our LOCs feature:

•    Low variable rate*
•    Maximum credit limit of $15,000 based on credit qualifications

You can get a LOC advance at a Northwest Federal ATM or our network of ATMs, through Online Banking, by telephone, or in-person at one of our branches. 

Apply Today

*Your initial Annual Percentage Rate (APR) will range from 11.65% to 18.00% based on your creditworthiness. After this, your APR is subject to change monthly based on the Prime Rate published in the Wall Street Journal on the last business day of the prior month. 
 

We offer Lifestyle Loan amounts up to $25,000 based on credit qualifications with terms up to 7 years. You can use the funds for whatever you need. 

Apply Today

A Savings Secured Loan lets you borrow up to 100% of the balance in your savings account. By using your savings account as collateral, you’ll enjoy a lower interest rate than our personal loans and these additional benefits:

•    Quick approval
•    Great way to establish or reestablish credit
•    Low fixed rates on 12-60 month term; variable rates on loans longer than 60 months
•    Continue earning dividends on your savings balance over the loan term 

Apply Today

With a Certificate Secured Loan*, you can borrow using the available funds** in your Northwest Federal Certificate as collateral. 

•    Quick loan approval
•    A great way to establish or reestablish credit
•    Continue to earn dividends on your Certificate balance over the loan term
•    Borrow up to 100% of the Certificate balance (up to $100,000 max)
•    Loan rate is just 2% over the dividend rate you’re earning on the Certificate

Apply Today

*Minimum balance of $5,000 is required. In order for Certificate to be used for a Certificate Secured Loan you must have at least 12 months remaining on the Certificate term (or open a new 1-year Certificate). Loan repayment term is the remaining term of the Certificate. Payment example:  a Certificate Secured Loan of $5,000 for 24 months at 2.95% will have a monthly payment of $215.07. 
**Funds must be collected prior to loan disbursement.