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Loans for any reason

Whether you’re buying a car, applying for a mortgage, or looking to buy something you need right now, we’re your source for money when you need it.

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The benefits of borrowing from MIT Federal Credit Union

  • Competitive low rates
  • Various terms and options
  • Easy application, quick approval process
  • Flexible and convenient payment options
  • No processing fees for most loan types

Calculators

Loan Rates

Unsecured Loans
Effective Date: Sunday, February 5th, 2023
Type of LoanTermAPR*Payment/$1000
Personal Loan + Co-Application/Guarantor Loan 12 Months 7.25% $86.61
  24 Months 7.50% $44.99
  36 Months 7.75% $31.21
  48 Months 8.00% $24.41
  60 Months 8.50% $20.51
Tuition Assistance Loan** 12 Months 7.25% $86.62
Credit Builder Loan 12 Months 6.75% $86.39
Overdraft Protection Line of Credit^ Line of Credit 10.00% $87.88
Fuel Assistance Loan 12 Months 6.50% $86.29

Auto Loans
Effective Date: Sunday, February 5th, 2023
Type of LoanTermAPR*Payment/$1000
New Auto Up to 60 Months 5.25% $18.99
New Auto 61-84 Months*** 5.75% $14.49
Used Auto Up to 60 Months 5.25% $18.99
Used Auto 61-72 Months 5.75% $16.46

Other Vehicle Loans
Effective Date: Sunday, February 5th, 2023
Type of LoanTermAPR*Payment/$1000
New & Used Motorcycles 12-36 Months 5.00% $29.98
  48 Months 5.25% $23.15
  60 Months 5.50% $19.11
  72 Months 5.75% $16.46
  84 Months 6.00% $14.62
New & Used Boats and RV's & Utility Trailers 12-36 Months 7.25% $30.99
  48 Months 7.50% $24.18
  60 Months 7.75% $20.16
  72 Months 8.00% $17.54
  84 Months 8.25% $15.72
  85-120 Months 8.50% $12.40

Secured Loans
Effective Date: Sunday, February 5th, 2023
Type of LoanTermAPR*Payment/$1000
Share Secured (Frozen Share) Up to 60 Months 5.25% $19.01
Credit Builder Loan Up to 12 Months 6.00% $86.06
HEAT Loan, Micro ($500-$2,000) Up to 24 Months 0.00% $41.67
HEAT Loan, Expanded ($2,001-$25,000) Up to 84 Months 0.00% $11.91

Solar Loans
Effective Date: Sunday, February 5th, 2023
NameTermAPR*Payment/$1000
Solar Loan 84 months 5.75% $19.22

eBike Loans
Effective Date: Sunday, February 5th, 2023
NameTermAPR*Payment/$1000
eBikes 36 months 6.75% $30.76
  48 months 7.00% $23.95
  60 Months 7.50% $20.04

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