Product from Discover Bank

Personal Loan from Discover Bank - see full info about rates, terms, credit score.

Updated July 22, 2022
Advertiser Disclosure
4.22 out of 5
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Check your personal loan rates

scorer
APR Range
5.99 - 24.99%
scorer
Amount
up to $35,000
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Term
up to 84 months
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Minimum credit score:
Fair (580-669)
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No early payoff penalty
scorer
No origination fee
See full info about rates in different states

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Options

  • Loan purpose:
    Personal Loan
  • Bank:
    Discover Bank
  • Credit Level:
    Fair (580-669)
  • When funds are available:
    1 business day.

Fees

  • Origination fee
    No origination fee.
  • Early payment fee
    No early payment fee.
  • Late fee
    $39

Pros & Cons

Pros:
  • No Origination Fee
  • Fast payment
  • Flexible repayment terms
Cons:
  • Late Payment Fee
  • No secured loan options
  • No cosigners allowed

Rates

Rates
5.99 - 24.99%
Term
36 - 84 months
Loan Amount
$2,500 - $35,000
For example, if you apply for a 2-year $5,000 personal loan with an interest rate of 15% and an origination fee of 5% you would receive $4,750 and make 24 payments of $242.43. The total amount paid would be $5,818.
View all Rates & Fees

Requirements

  • What you need to get approved (Qualifications)
    FICO® score 660 or higher.
  • Ages

    You need to be 18 or older and a U.S. citizen.

  • Requirements Description
    • Personal information (Name, Address, Phone Number, Date of Birth, Social Security Number)
    • Income Particulars (Income Type, Pay Method, Pay Frequency, Monthly Income)
    • Banking Details (Account Type, Account & Routing Numbers, Age of Account)

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Payoff®
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Recommended credit score
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Good (670-739)
  • 8.99 - 29.99 %
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  • 2 - 5 years
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  • $5,000 - $40,000
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LendingClub
LendingClub
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3.73 out of 5
Recommended credit score
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Poor (300-579)
  • 8.3 - 36 %
    APR
  • 3 - 5 years
    Loan Term
  • $1,000 - $40,000
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SoFi
SoFi
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5 out of 5
Recommended credit score
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Good (670-739)
  • 7.99 - 23.43 %
    APR
  • 2 - 7 years
    Loan Term
  • $5,000 - $100,000
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Description

  • Discover Bank offers interest rates from 5.99% to 24.99%. Discover offers personal loans of up to $35,000 in 50 states.

    The bank doesn't offer bad credit loans.

    Discover offers a 30-day money-back guarantee on its loans. You can return the loan funds within 30 days without paying any interest.

    Discover charges a $39 late fee.

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