Borrow $500 the Smart Way
Sometimes you only need a small boost — and borrowing $500 shouldn't mean payday-loan rates or forced $2,000 minimums. A $500 Discover personal loan gives you exactly what you need at a fixed rate from 6.99% APR with zero fees.
Funds by Tomorrow
Approved loans are deposited directly into your checking account as early as the next business day.
Truly Zero Fees
No origination fee, no prepayment penalty, no late fees. A $500 loan costs exactly its principal plus fixed interest — nothing else.
Soft Pull to Check
See your personalized rate in 60 seconds with no impact to your credit score and no obligation.
Fixed Terms You Choose
Pick a 12–24 month term. Your rate and payment never change.
What Does a $500 Loan Cost Per Month?
| Term | Payment at 6.99% APR | Payment at 24.99% APR | Total interest (at 6.99%) |
|---|---|---|---|
| 12 months | $43.26/mo | $47.52/mo | $19 |
| 18 months | $29.34/mo | $33.59/mo | $28 |
| 24 months | $22.38/mo | $26.68/mo | $37 |
Fixed payments on a $500 Discover personal loan. 6.99% APR reflects our most qualified borrowers.
Popular Uses for a $500 Loan
- Urgent car repairs — brakes, battery, tires
- Covering a bill between paychecks without payday-loan rates
- Emergency vet visits
- Small medical or dental copays
- Replacing an essential appliance
How to Get Your $500 in 3 Steps
Check your rate (60 seconds)
Request $500 and see your fixed APR instantly via soft credit pull — your score is untouched.
Choose your repayment term
Select 12 to 24 months based on the monthly payment that fits your budget.
Receive your funds
Money lands in your U.S. checking account as early as the next business day after acceptance.
Do You Qualify?
- U.S. citizen or permanent resident, age 18+ (19 in AL & NE)
- Minimum $25,000 individual or household annual income
- Fair to excellent credit — 660+ FICO recommended
- Active U.S. checking account for disbursement
Compare every amount and term on the rates & terms page.