Overview of the Thrift Savings Plan Loan Program

Getting a thrift savings plan loan is an option that many government employees consider at some point. If you have a thrift savings plan, you can actually borrow money from it with two different types of loans. Here are the basics of the thrift savings plan loan program.

Types of Loans

With this program, you can take out a general-purpose loan or a residential loan. If you take out a general-purpose loan, you have anywhere between 1 and 5 years to repay the loan. With a residential loan, you have up to 15 years to repay the money that you borrow. You also have to be able to document that you are using the money for a real estate purchase. The money has to be used for your primary residence as well. You can actually have one of each type of loan outstanding at any given time.

Interest Rates

The interest rate for these types of loans can vary. The rate that you will pay is equal to the interest rate of the G Fund that is offered by the government. 


In order to get this loan if you are married, you have to have your spouse sign a consent form. The lender will also notify your spouse of the loan application.