Personal Loan Application Process

How to get a personal loan

Our application process makes it quick and easy to get a loan online.

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Calculate your personal loan options with our online calculator

Begin by using the Discover Personal Loan Calculator to estimate the amount you might borrow, along with your potential APR and payments. This efficient, hassle-free process helps you understand your options without any impact on your credit score.

  • Tell us how you plan to use the loan
  • Amount you want to borrow
  • How long you need to pay it back
  • Provide some personal info

You may enjoy a lower APR if you use the loan for debt consolidation to pay off higher-interest debt.

Complete a personal loan application online

You'll be presented with a few loan options to choose from — and can then apply in minutes. Here's what you'll need:

  • Income and employment information for verification
  • Bank account and routing numbers for direct deposit
  • Balances and accounts for creditors if you're consolidating debt

Once your application is received, a loan specialist may call you to verify your info and final details.

Get an approval decision

We'll let you know the APR, loan amount and payment terms if you're approved. You'll then be able to review the full details before you accept.

Receive your funds

Once approved and accepted, your funds can be sent as soon as the next business day to:

  • Pay off creditors directly if you're consolidating debt
  • Or deposit into your bank account

If, for some reason, we're unable to disburse as you requested, we would either issue you a check for the difference or credit your loan balance.

Pay off your loan

Save money with a lower interest rate and simplify with a single, fixed monthly payment.

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Convenient payment options

Enroll in automatic payments, set up electronic bill pay with your bank, or make payments online, by phone or by mail.

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No prepayment penalties

Make extra payments and pay off your loan early. Any payments that exceed your monthly minimum are applied to your principal balance.

Enjoy legendary service from Discover®

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100% US-based customer service is ready to help and answer any questions
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Easy account management online or on the Discover mobile app
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Track your credit score, credit history, number of accounts, and more

How we calculate our ratings

See Reviews

See what rates you qualify for

Get a loan offer in minutes with no impact to your credit score.
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Or call 1-866-248-1255