Career Kickoff Loan
Get a low 2.99% APR on a 60-month loan of up to $25,000. We’ll even defer your payments until 180 days after your commissioning or 45 days after your loan origination date if you’re already commissioned.1
Frequently Asked Questions
Who is eligible to apply?
The following are eligible to apply:
- Reserve Officer Training Corps (ROTC) members within 12 months of commissioning or up to 12 months after commissioning;
- Officer Candidate School (OCS), Officer Training School (OTS), and Navy Select Limited Duty Officer (LDO) members within 4 months of commissioning or within 12 months after commissioning; and
- Appointed Warrant Officer (WO-1) within 4 months of appointment or within 12 months after appointment
Servicemembers in all branches of the armed forces are eligible for membership, including ROTC, Officer Candidate, Active Duty and Reservist. Join now to become a member.
How do I apply for the Career Kickoff Loan?
What type of information do you collect when I apply for the loan?
You’ll need to provide:
- Program Type (ROTC or OCS/OTS)
- Branch of Service (Air Force, Army, Coast Guard, Marine Corps or Navy)
- Graduation Date
- Requested Loan Amount (up to $25,000)
- Phone number
- Proof of Enrollment (for ROTC: Duty Status Verification Form; for OCS/OTS: official orders or signed letter from command)
Do I have to direct deposit my military pay into a Navy Federal checking account?
Yes, you must have direct deposit of military pay set up to your Navy Federal checking account and maintain through the life of the loan. If direct deposit is not maintained, the interest rate on the loan will increase to the prevailing personal loan rate.
How soon will I receive a decision after I submit my loan application?
We work hard to provide you a decision within 24 hours. If you provided your email address during the application process, we'll send you a follow-up email with more details.
Once my loan is approved, how do I receive my loan funds?
After electronically signing your approved loan, your funds will be deposited into either your savings or checking account.
Can I electronically sign my loan?
Yes. Email notifications are sent with directions on how to electronically sign your Promissory Note.
When will my first payment be?
The first payment will be deferred 180 days after commissioning or 45 days from loan closing date if already commissioned.
How can I use the loan funds?
The money can be used for expenses like buying uniforms, consolidating high-interest debt (credit cards, personal loans, etc.), paying off transition expenses or buying a car. The loan can't be used for educational expenses.
Do I need a co-applicant?
No, you will not need a co-applicant to apply.
Will my credit be pulled?
Yes, the application is subject to credit approval.
Who is eligible for Free Active Duty Checking?
How do I qualify for Free Active Duty Checking?
What are the benefits and features of a Free Active Duty Checking account?
You’ll have early access to your pay, rebates on ATM fees (up to $240 a year) and free personalized checks.
Are there any fees?
No. There is no monthly service fee associated with Free Active Duty Checking.
Is there a minimum balance requirement?
No. There is no minimum balance requirement to open the Free Active Duty Checking account.
What happens if I open Free Active Duty Checking but it turns out I don't have a qualifying deposit? (Or something similar)
Can I change to a different checking account later?
Yes. It's easy to change to a different checking account if you decide to later.
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Credit subject to approval. The first payment will be due 180 days after the applicant commissions or 45 days after loan origination date if already commissioned. Example: Recently commissioned member takes out a $25,000 loan for 60 months at 2.99% APR. Loan repayment starts 45 days after loan origination and monthly payment is $449.67. Applicant must establish and maintain a Navy Federal checking account with direct deposit of pay within 90 days of the loan date and throughout the term of the loan. If not maintained, the interest rate on the loan will revert to the prevailing personal loan rate.↵
Up to $20.00 in ATM fee rebates per statement period.↵
A qualifying military direct deposit of net pay must post to your Free Active Duty Checking account within 90 days of account opening. If the military direct deposit of net pay stops for more than 90 days, the account converts to a Free EveryDay Checking account.↵