Discover® Personal Loans
Get the money you need to make things happen
Check Your Rate Won't impact your credit scoreYou can do some amazing things with a personal loan
Estimated Monthly Payment
$497
16.99% APR
$29,820 Total Cost
Tab down to learn more on how your inputs affect the payment and APR.What will my actual payments be?
The APR and monthly payment shown are only estimates based on your selection inputs and are for reference purposes only.
Your actual APR will be between 7.99% and 24.99% based on creditworthiness at the time of application.
The actual APR will be determined when a credit decision is made and may be higher.
$20,000
60 Months
740
How your details affect the payment and APR
- Higher loan amounts can raise your APR and increase your payment
- Longer loan terms can raise your APR and increase your payment
- Higher credit scores can lower your APR and decrease your payment
Questions? Call us at 1-866-248-1255
Any results are estimates, and we do not guarantee the applicability or accuracy to your specific circumstance.
Results are calculated based on Discover application data as of 12/9/2024.
Using a loan to consolidate debt? Estimate Savings
What you can count on from Discover
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Great Rates
Save on interest with a fixed interest rate from 7.99% - 24.99% APR. -
Flexible Terms
Borrow up to $40,000 and repay it over 3 to 7 years — it's your choice. -
No Up-Front Fees
Put more of your funds to work with no fees of any kind — as long as you pay on time. -
Funds Sent Fast
Funds can be sent as early as the next business-day after acceptance.
4.9 of 5 average customer rating out of 30,243 customer reviews
How we calculate our ratings
How we calculate our ratings
We calculate the average product rating based on ratings that customers submit. We exclude some reviews from being displayed for reasons such as the customer including profanity, reviewed the wrong product, submitted inappropriate or irrelevant content, or revealed personally identifying information. Reviews are not filtered, edited, or deleted simply because they are negative or are lower rated. If a review is excluded, the associated rating is not calculated in the average product rating.
See why Discover's a great choice
Lenders | Discover Personal Loans | Citibank Personal Loan | LendingClub | SoFi | Wells Fargo Personal Loans | Prosper Funding | Upstart |
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APR Range*
*Lender origination fees are included in a loan's APR. We are showing the percentage range competitors may charge.
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7.99%-24.99% | 11.49%-20.49% | 8.98%-35.99% | 8.99%-29.49% | 7.49%-24.99% | 8.99%-35.99% | 7.4%-35.99% |
36-84 month repayment terms available for all loan amounts
Flexible repayment terms for all loan amounts — 36, 48, 60, 72 and 84 months.
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yes | no | no | yes | no | no | no |
No prepayment penalties | yes | yes | yes | yes | yes | yes | yes |
Option to pay off many creditors directly | yes | yes | yes | yes | yes | no | yes |
FICO® Score and more for free **,†
FICO® Score, number of credit inquiries and other credit report information for free**,†. **Compared lenders may provide a FICO® Credit Score or other credit score and other credit information. See lender's website for further details. †FICO® Credit Score Terms: Your FICO® Credit Score, key factors and other credit information are based on data from TransUnion® and may be different from other credit scores and other credit information provided by different bureaus. This information is intended for and only provided to Primary account holders who have an available score. See Discover.com/FICO about the availability of your score. Your score, key factors and other credit information are available on Discover.com and cardmembers are also provided a score on statements. Customers will see up to a year of recent scores online. Discover and other lenders may use different inputs, such as FICO® Credit Scores, other credit scores and more information in credit decisions. This benefit may change or end in the future. FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries. |
yes | no | no | no | no | yes | yes |
Online Privacy Protection ††
Free help removing your personal information from at least 10 people-search websites. Activate by mobile app. †† ††Online Privacy Protection is offered by Discover Bank at no cost and only available in the mobile app. About every 90 days we will scan at least 10 people-search sites for your online personal information and help you submit opt-out requests. Types of personal information found on these sites will vary. |
yes | no | no | no | no | no | no |
Chart comparisons conducted by an independent research firm and based on competitor info through 11/7/24.
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Frequently asked personal loan questions
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Simply put, a personal loan is an unsecured loan, meaning it does not require collateral. It gives you access to funds you can use for a variety of purposes, like consolidating debt, paying for unexpected expenses, remodeling your home, or taking that dream vacation.
Unlike a mortgage or student loan, which are designed for defined uses, you have the freedom to spend a personal loan on almost anything you want.
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There are five minimum requirements to be eligible for a Discover personal loan. You must:
- Have a valid U.S. SSN.
- Be at least 18 years old.
- Have a minimum individual or household annual income of at least $25,000.
- Have a physical address.
- Have an active email address and access to a computer or mobile device to finalize your application online.
Once you meet those minimum eligibility requirements, several other factors are considered when processing your application. These include the information you provide on your application and information from credit bureaus (which includes your credit history, recent credit activities, and credit inquiries registered to your name).
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A personal loan has many different uses. Because funds can be deposited directly into any of your bank accounts, you can use a personal loan in a variety of ways. Personal loans are often used for debt consolidation, so you may be able to pay down your debt at a fixed rate. A personal loan can also help finance a large purchase, like a wedding, a vacation or a home remodel. If you're facing an unexpected expense or a financial emergency you can get the funds you need with a personal loan. You can also use a personal loan to cover medical bills, adoption or IVF, auto repairs, and more.
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Money can be sent as soon as the next business day once you’re approved and accept the loan, provided:
- The application submitted has no typos or errors
- The loan is funded on a weekday night
- The funds are disbursed electronically to your checking or savings account only
If there are errors on your application, the loan is funded on a weekend, or you request funds be delivered by another method, disbursement of your personal loan funds can take longer.
Here's how to apply for a personal loan online
Check the rates you qualify for with no impact to your credit score.
Review your loan offer and submit your application.
You can have your money sent as soon as the next business day after acceptance.
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