Discover® Personal Loan Uses

What can you use a personal loan for?

With up to $40,000, you can use a personal loan for almost anything.

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Some popular ways to use a personal loan

Debt consolidation icon

Consolidate Debt

Combine high-interest debt into one monthly payment and could save long-term.
Home improvement icon

Home Improvement

Tackle repairs and remodeling, and make energy-efficient upgrades to your home.
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Medical Expenses

Get help with medical bills or procedures not typically covered by insurance.
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Personal loans can help with other major expenses

  • Vacation Funding

    Plan your dream family vacation, cruise, or European getaway.

  • Wedding Financing

    Cover wedding costs, including the venue, reception, or honeymoon.

  • Financial Emergencies

    Get the money you need to cover unplanned expenses.

  • Auto Expenses

    Pay for needed repairs.

  • Pet Emergencies

    Pay for veterinary bills and other medical costs for your pet.

  • Moving Expenses

    Cover moving expenses such as movers, truck rental and packing supplies. 

What you can count on from Discover

  • Great Rates
    Save on interest with a fixed interest rate from x to x APR.
  • Flexible Terms
    Borrow up to x and repay it over x to x years — it's your choice.
  • No Fees. Period.
    Put more of your funds to work with no fees of any kind.
  • Funds Sent Fast    
    Funds can be sent as early as the next business-day after acceptance.

Take the next step on your personal loan journey

Check Your Rate

Frequently asked loan questions

See More FAQs

How we calculate our ratings

See Reviews

Read more about ways to use a Discover personal loan

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See what rates you qualify for

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PO Box 30954
Salt Lake City, UT 84130-0924

 

Your APR will be between x and x based on creditworthiness at time of application for amounts between $2,500-$40,000 and loan terms of x-x months. For example, if you get approved for a $15,000 loan at 12.99% APR for a term of 72 months, you'll pay just $301 per month.

You must have a minimum individual or household annual income of $25,000, be over 18 years of age, and have a valid US SSN to be considered for a Discover personal loan. Loan approval is subject to confirmation that your income, debt-to-income ratio, credit history and application information meet all requirements.

Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. State restrictions may apply.

For debt consolidation, even with a lower interest rate or lower monthly payment, paying debt over a longer period of time may result in the payment of more in interest. A Discover personal loan is intended for personal use and cannot be used to directly pay any Capital One account (including any Discover or Capital One credit card), secured loan, or post-secondary education loan or expense.

If your application is approved, we will send funds after you accept the loan. Your bank or creditor may take more days to process the funds.

After you check your rate, if you move forward with an application for a new Discover personal loan, you will need to consent to a hard credit inquiry that will appear on your credit report.

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