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Frequently asked personal loan questions
Our personal loan calculator estimates a monthly payment based on the loan amount, term and the credit score you select. Your actual payments will also be determined by your interest rate.
In the most general terms, the higher your credit score is, the lower your interest rate and monthly payments may be. Your interest rate is determined at the time of application based on the information you provide.
With a Discover personal loan, you get a fixed rate. That means you'll lock in your interest rate, so your monthly payments will remain the same for the duration of your loan, as long as you make the monthly payments on time. This is typically the key difference between a line of credit and a personal loan.