What are personal loans?

Personal loans are unsecured loans used to consolidate debt or pay for life's big events. With a fixed rate and fixed term, personal loans could help you save hundreds—or even thousands—of dollars by eliminating higher-interest debt. A Discover personal loan, which has no origination fees, may be an ideal solution for people with good credit and a strong financial history.

Why get a personal loan from Discover

  • $0 fees

    No loan origination fees. No fees of any kind as long as you pay on time.

  • Fixed rates from 6.99% to 24.99% APR

    Lock in your rate. Your monthly payment will never change.

  • Flexible repayment terms

    Choose your repayment plan from 36 to 84 months.

  • Loans up to $35,000

    Estimate a monthly payment with our personal loan calculator.

How it works

  • 1
    Get started

    You can start the process anytime. Select a loan amount and term and find out your personal loan interest rate.

  • 2
    Receive your rate

    Once you get your interest rate, apply for the loan either online or over the phone. You could receive a decision in minutes.

  • 3
    Get a decision

    If your application is approved, your funds can be sent as early as next business day after acceptance.

See how Discoverís loan benefits compare1

Compare Discoverís loan benefits with others
Discover Personal Loans Lending Club Wells Fargo Prosper Funding
Origination fees $0 $6792 $0 $6692
Flexible payment plans up to 84 months to fit your budget Applicable Not Applicable Not Applicable Not Applicable
Same-day decision in most cases Applicable Not Applicable Applicable Not Applicable
Option to pay off creditors directly Applicable Not Applicable Applicable Not Applicable
100% U.S.-based customer service Applicable Applicable Not Applicable Applicable
Return loan funds within 30 days and pay no interest Applicable Not Applicable Not Applicable Not Applicable
  • Comparison conducted by an independent research firm and based on data compiled in August 2016 from company websites, customer service agents, and consumer credit offers.
  • Origination fee estimates are based on average loan amount and average origination fee % listed in company filings (10-Q).

We’ve helped more than 1 million people reach their goals

Read Discover Personal Loans Reviews  

Testimonials received from videos from actual customers who participated in the Discover Personal Loans Video Contest in 2015.

Still have questions?

Give us a call and speak with a dedicated, U.S-based loan specialist.

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