Discover loans review | Debt consolidation, auto loans and more
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Discover personal loans

Looking for a competitive personal loan from an innovative online bank? Check out Discover.

Life has a habit of getting complicated quickly. When it comes to finances, it can help declutter that complication by keeping things in one place. Discover offers credit cards, rewards, home loans, student loans, checking and savings accounts and personal loans to its customers.

When you need to finance that special purchase, your education or even consolidate your debt, you can find a loan with Discover and keep your finances together. Find out more about Discover’s wide range of personal loans on the page below.

Loans you can apply for with Discover

Discover offers several personal loans you can consider applying for, including:

  • Personal loan. A Discover personal loan comes with a fixed rate and quick turnaround. After you’re approved, funds will be in your account as early as the next business day. You’ll also enjoy no activation fee, closing costs or prepayment penalties.
  • Debt consolidation loan. If you have existing debt from auto loans, credit cards, department store cards or even medical bills, you can combine them into a Discover loan and potentially reduce what you’re paying in interest. This loan comes with fixed rates and you can apply conveniently online.
  • Vacation loan. Discover also offers loans for vacations. You can choose your payment terms and enjoy a 30-day guarantee in case you change your travel plans. Approved funds will be in your account as soon as the next business day.
  • Wedding loan. If your wedding is on the horizon but you haven’t saved up the estimated $35,000 you’ll need for flowers, caterers and everything else, you can consider a Discover wedding loan. Choose any amount between $2,500 and $35,000 and enjoy flexible repayments to suit your needs.
  • Green loan. Making changes to your home to benefit the environment, such as purchasing energy-saving appliances or installing a geothermal unit, takes money. Discover offers loans to help you pay off these costs over time. You won’t pay an activation fee or any closing costs, and your payments will stay the same each month.

Compare Discover to these online lenders

Rates last updated February 22nd, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Max. Loan Amount APR
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
From 4.99% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
From 5.99% (fixed)
CompareFirst Personal Loans
An easy-to-use loan connection service geared toward introducing first-time borrowers to affordable personal loans.
From 2.99% (fixed)
Upgrade Personal Loans*
From 5.66% (fixed)
Laurel Road Personal Loans
Get a personal loan with no application or origination fees and a rate discount for autopay.
From 5.5% (fixed)
FreedomPlus Personal Loans
Consolidate debt and more with these low-interest loans. Cosigners welcome.
From 4.99% (fixed)
Best Egg Personal Loans
From 5.99% (fixed)
Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.
From 5.99% (fixed)
LendingPoint Personal Loans
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
From 15.49% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
From 34% (fixed)

Compare up to 4 providers

Benefits of Discover personal loans

When you apply for a personal loan with Discover you’ll get access to the following features:

  • Fixed monthly payments. The rate on Discover personal loans is fixed, so you know what you’ll be paying each month.
  • No origination fees or prepayment penalties. You won’t pay any additional fees as long as you make your payments on time, and loans don’t come with an activation fee or prepayment penalties.
  • Quick funding. You can apply online and have the approved funds as soon as the following business day.
  • Interest rate. The APR range is from 6.99% to 24.99%.
  • Payment terms to suit your needs. You can make payments over a term – options range from 3 to 7 years – to suit your needs.
  • Option to pay off creditors directly. If you’re looking to consolidate debt, you can have your approved funds sent straight to your creditors following approval as early as the next business day.
  • 30-day guarantee. You’re able to return your loan funds within 30 days and owe no interest if you change your mind.

Other products Discover offers

Discover also offers a range of other banking products and services that you can consider:

  • Credit cards. Discover started out as a credit card provider, and today its cards range includes rewards cards, student cards, cashback credit cards, and no annual fee credit cards.
  • Online banking. You can apply for checking or savings accounts with Discover, as well as a CD account or an IRA account.
  • Home loans. Whether you’re looking to purchase or refinance, Discover has a range of home loans that can help you get into your first or next property.
  • Home equity loans. Use the equity you have in your home to pay down existing debt or upgrade your home.
  • Student loans. If you’re an undergraduate, graduate, or undertaking a specific course, Discover might have a student loan to help you pay for your education. Co-signing is available.

How you can apply for a personal loan with Discover

If you want to apply for a loan with Discover, click “Go to Site” to submit your application. Check the eligibility criteria of the personal loan you want to apply for, and then assemble the following information:

  • Your name, contact information and date of birth.
  • How much you want to borrow and the purpose of the loan.
  • Your annual individual income.
  • If you want your loan sent to your creditors, you will need creditor balances and account numbers.

If you’re approved you can review the terms and the condition of the loan, and once you agree to these you can accept the contract. The funds will then be sent to your account or to your creditors (whichever you have asked for). Your welcome kit will then be mailed to you.

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Frequently asked questions about Discover personal loans

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2 Responses

  1. Default Gravatar
    SaiJuly 24, 2017

    Can I get a debt consolidation loan with 3-year credit history and good credit score. I am not a permanent resident of the US

    • Staff
      HaroldJuly 24, 2017Staff

      Hi Sai,

      Thank you for your inquiry.

      Typically, lenders required a permanent US resident to be eligible in debt consolidation. You can find further information and lenders options here. On the other hand, since you are not a permanent resident in the U.S. you may also want to consider the loan options here.

      I hope this information has helped.


US Personal Loans Offers

Important Information*
Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.


Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

Borrow up to $100,000 with a competitive APR and no fees.

Go to site