Discover Personal Loans
6.99% to 24.99% APR, no fees of any kind, $2,500 to $40,000 over 3 to 7 years
Rates verified October 14, 2026Check your rateThe Bottom Line
- APR range
- 6.99%-24.99% (verified Oct 14, 2026). All rates and fees
Key facts
- Loan amount: $2,500-$40,000
- Origination fee: None
- Term: 36-84 mo
Pros
- No origination fee or fees of any kind, per Discover
- A 24.99% ceiling, far below the 35.99% many lenders reach
- No prepayment penalty
- Checking your rate does not affect your credit score
Cons
- Terms start at 36 months
- Co-borrowers are not permitted
- Cannot be used to pay off Capital One accounts, secured loans or student loans
- Requires $25,000 of annual income, and state restrictions are not listed
At a glance
Rates verified October 14, 2026- APR range
- 6.99%-24.99%
- APR basis
- Origination fees would be included in the APR; Discover charges none.
- Loan amounts
- $2,500-$40,000
- Terms
- 36-84 months
- Origination fee
- None. Discover says there are no fees of any kind.
- Funding speed
- As early as the next business day after you accept the offer
- Prepayment penalty
- None
- Soft-pull rate check
- Yes
- Joint applicants
- Not allowed
- Eligibility
- Minimum individual or household annual income of $25,000, age 18 or older, valid U.S. SSN
- State restrictions
- State restrictions may apply; Discover does not list them.
Sources: discover.com/personal-loans, discover.com/personal-loans/faqs, read October 14, 2026
Read before you apply
- Terms start at 36 months, so a short loan is not offered.
- A Discover personal loan cannot directly pay any Capital One account (including Discover and Capital One credit cards), a secured loan or a post-secondary education loan.
- Co-borrowers are not permitted, so a stronger co-signer cannot help a thin application.
- Discover says state restrictions may apply but does not list the states.
Where these numbers come from
Read on the lender's own pages on October 14, 2026. Your offer can differ: the lender sets your APR and fee when you apply.
Is it worth it?
$1,114 to $4,312 in interest and fees on $10,000 over 36 months
To receive $10,000 and repay it over 36 months, the lowest published APR (6.99%) works out to about $309 a month and $1,114 in total interest and fees. At the highest (24.99%) it is about $398 a month and $4,312. The gap between the two is $3,198, so the rate you are actually offered matters more than the headline. Estimated from the published APR range, which already includes any origination fee. The lowest rates are reserved for the best-qualified borrowers.
What is Discover Personal Loans?
Discover pairs a contained APR range with a clean fee structure. It publishes fixed APRs of 6.99% to 24.99% for loans of $2,500 to $40,000 over 36 to 84 months, and says it charges no origination fee and no fees of any kind. A 24.99% ceiling is far below the 35.99% many lenders on this list reach, which is what matters if your credit is not perfect.
The trade-offs are structural. Terms start at 36 months, so there is no short loan, and you need a minimum individual or household annual income of $25,000. Co-borrowing is not permitted, so a co-signer cannot lift a thin application. Funds can arrive as early as the next business day after you accept. A direct-pay option can send money to your creditors, but a Discover loan cannot be used to pay any Capital One account, including Discover and Capital One credit cards, a secured loan or a student loan.
Checking your rate has no impact on your credit score, while moving on to a full application means consenting to a hard inquiry. Discover's page says there are no prepayment penalties and that state restrictions may apply, without listing them. Its own example is a $15,000 loan at an 11.99% APR over 72 months for $293 a month. Discover publishes no minimum credit score.
Key details
APR 6.99% to 24.99%Loans from $2,500 to $40,000Terms from 36 to 84 monthsNo fees of any kind, per DiscoverNo prepayment penaltyRate check with no credit score impact
Explore more
Discover Personal Loans FAQ
What APR does Discover charge on personal loans?
Discover states fixed APRs from 6.99% to 24.99% for loans of $2,500 to $40,000 with terms of 36 to 84 months. Your APR depends on creditworthiness at the time of application.
Does Discover charge an origination fee?
No. Discover says it does not charge origination fees and that there are no fees of any kind on its personal loans, including for applications.
Can I add a co-borrower to a Discover personal loan?
No. Discover loans are for individual borrowers and co-borrowing is not permitted. You need a minimum individual or household annual income of $25,000, to be over 18 and to have a valid U.S. SSN.
How fast does Discover fund a personal loan?
As early as the next business day after approval and acceptance, if the application has no errors, funding is not on a weekend and the money goes by electronic deposit. Discover says debt consolidation funds can arrive in as little as one business day after acceptance.
Source: discover.com