Discover Review
Discover Personal Loans offer no origination fees, flexible terms, and the backing of a major financial institution.
APR Range
7.99% – 24.99%
Loan Amount
$2,500 – $40,000
Min. Credit
660
Funding Speed
2 – 7 business days
Discover Personal Loan Review
Discover, known for their credit cards, also offers competitive personal loans with their hallmark no-fee approach. There's no origination fee, and funds can be sent directly to creditors for debt consolidation. Discover offers one of the wider term ranges (36–84 months) and loan amounts up to $40,000. Their 30-day money-back guarantee is unique — if you change your mind within 30 days, return the funds and owe nothing.
Best For
Debt consolidation with direct creditor payments and no fees
Pros
- No origination fees
- 30-day money-back guarantee
- Direct payment to creditors for debt consolidation
- Flexible loan terms (36–84 months)
- Backed by a major financial institution
Cons
- Minimum credit score of 660
- Funding takes 2–7 business days
- Maximum loan of $40,000
- No co-signer option
Loan Details
| APR Range | 7.99% – 24.99% |
| Loan Amounts | $2,500 – $40,000 |
| Repayment Terms | 36 – 84 months |
| Minimum Credit Score | 660 |
| Funding Speed | 2 – 7 business days |
| Fees | No origination fee. No late fee. No prepayment penalty. |
Key Features
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Compare Other Lenders
| Lender | APR Range | Loan Amount | Min. Score | Funding | Rating | |
|---|---|---|---|---|---|---|
| SoFi Borrowers with good credit who want zero fees | 8.99% – 25.81% | $5,000 – $100,000 | 680 | Same day to a few days | Check Rate | |
| LightStream Excellent credit borrowers wanting the absolute lowest rates | 7.49% – 25.49% | $5,000 – $100,000 | 700 | Same day (with bank account verification) | Check Rate | |
| Upgrade Fair-credit borrowers who want flexibility and joint applications | 9.99% – 35.99% | $1,000 – $50,000 | 580 | 1 – 5 business days | Check Rate | |
| Best Egg Good-credit borrowers who need fast funding | 8.99% – 35.99% | $2,000 – $50,000 | 640 | Same day to next business day | Check Rate | |
| Avant Borrowers with average credit (580–700) who need fast funding | 9.95% – 35.99% | $2,000 – $35,000 | 580 | Next business day | Check Rate |
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Discover at a Glance
- Rating
- APR
- 7.99% – 24.99%
- Amount
- $2,500 – $40,000
- Min. Score
- 660
- Funding
- 2 – 7 business days