Discover Personal Loans Personal Loan Review (2026)
Discover Bank, widely known for its credit cards and rewards checking, also offers personal loans ranging from $2,500 to $40,000 with terms from 36 to 84 months. There are no origination fees, no prepayment penalties, and no fees of any kind — similar to Marcus. Discover's personal loan APR ceiling of 24.99% is among the lowest in the industry, meaning borrowers at the lower end of its credit spectrum still receive reasonable rates. Discover also offers a direct creditor payoff option for debt consolidation.
Pros and cons
Pros
- No fees of any kind
- APR ceiling of 24.99% (lower than most lenders)
- Direct creditor payoff for debt consolidation
- 30-day money-back guarantee
Cons
- Requires 660+ credit score (not for bad credit)
- Maximum $40,000 (lower than SoFi or LightStream)
- Not available in Maryland or Wisconsin
Discover Personal Loans — common questions
What credit score does Discover require for a personal loan?+
Discover does not publish a minimum score, but applications typically require a 660+ FICO score. Borrowers with scores below 640 are unlikely to qualify.
Does Discover pay creditors directly for debt consolidation?+
Yes. Discover can send loan funds directly to your existing creditors when you use the loan for debt consolidation, simplifying the payoff process.
What is Discover's 30-day return guarantee?+
If you change your mind about your loan within 30 days of funding, Discover allows you to return the full loan amount with no interest charged. You must return the full amount by check.
Does Discover check credit with a hard pull?+
Discover allows rate checking with a soft pull that does not affect your score. A hard pull occurs only if you accept a loan offer.
Alternatives to Discover Personal Loans
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Editorial disclosure: This review is prepared by Get Advance Loan’s editorial team and is independent of the reviewed lender. Get Advance Loan is a free loan marketplace and may receive compensation from lender partners when users accept loan offers through our platform. This compensation does not influence our editorial assessments. All rate data is sourced from the lender’s public disclosures and is accurate as of June 2026. Verify current rates directly with Discover Personal Loans before applying.