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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.
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PenFed requires a minimum credit score of 650. While this score can help you qualify, it won't get you the most favorable terms. We recommend a score of 720 to receive the lowest interest rates and largest loan amounts.
Withdraw up to $1,000 cash via an ATM each calendar day (Eastern Time) from a Regular Share or Money Market Savings account. 3. Determine the balance in a Regular Share or Money Market Savings account.
PenFed Debt Protection provides an important sense of financial security - knowing your loan will not become a burden to you in times of hardship. You may cancel PenFed Debt Protection at any time.
Checks typically arrive within 5 to 7 business days depending on mail delivery services. Choose how you would like to receive the funds: Mailed to you by check. Transferred to a PenFed checking or savings account.
Generally, PenFed borrowers who select a direct deposit option receive loan funds within one to two business days after application verification. Those who opt to receive their loan by check can expect funds within five to seven business days.
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People also ask

Editing Loan Payments Log in to PenFed Online and click the Transfers tab at the top. Click the Pending Transfers tab. Click the pen icon of the payment you want to update, or click the trashcan icon and follow prompts to delete the payment.
How can I check the status of my loan application on PenFed Online? To check your application status at any time, just log on to PenFed Online. Access PenFed Online from any page using the LOG IN button at the top of the page.
Early access to direct deposit is available for all PenFed members that set up a direct deposit with their employer or other payor. Early direct deposit eligibility may vary between pay periods and timing of payors funding.
Generally, PenFed borrowers who select a direct deposit option receive loan funds within one to two business days after application verification. Those who opt to receive their loan by check can expect funds within five to seven business days.
If you want to reverse a transfer that occurred between your checking and savings accounts, transfer the money back by performing a one-time transfer. Notes: To make transfers using an external account, you must first link the account.

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