How to Borrow From a TSP Account


The Thrift Savings Plan, or TSP, is a government-sponsored account available to federal employees to save for retirement. The federal government matches a portion of an employee's contribution to his TSP account, and contributions are tax-deferred until the income is withdrawn after retirement. You can borrow money from your own TSP account by filing the appropriate forms.

  • Review borrowing rules at the TSP website. TSP account holders can borrow a maximum of $50,000. However, the amount you can borrow may be less depending on how much money is currently in your TSP account and whether you have outstanding TSP loans already.

  • Use the online TSP loan calculator to estimate your payments. As with any commercial loan, loans from your TSP account must be repaid on a fixed schedule.

  • Fill out and submit the proper form. Use Form TSP-U-20 if you are in the uniformed services. All other federal employees use Form TSP-20 for their loan request. You can mail the form to Thrift Savings Plan, P.O. Box 385021, Birmingham, AL 35238 or fax it to 1-866-817-5023.

Related Searches


  • Photo Credit Thinkstock/Comstock/Getty Images
Promoted By Zergnet



Related Searches

Check It Out

4 Credit Myths That Are Absolutely False

Is DIY in your DNA? Become part of our maker community.
Submit Your Work!