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A fixed APR between 6.99% and 24.99%, set by your credit profile at application and never changing afterward. Full tier-by-tier detail lives on our rates & terms page.

Really. No origination fee, no application fee, no prepayment penalty, and no late fees. The APR you're quoted is the complete cost of the loan — borrowed amount equals received amount.

Fixed for the life of the loan. Your monthly payment on the final month equals the first month, regardless of market rates or Federal Reserve moves.

6.99% is the floor for the most qualified applicants. Offers across the 6.99%–24.99% range reflect credit history, income, and debt-to-income ratio. Because there are no fees, even mid-range offers usually beat fee-charging competitors' 'lower' advertised rates.

We recommend a FICO score of 660 or higher. Approval also weighs income and debt-to-income ratio — the complete breakdown is in our credit score guide.

A minimum of $25,000 in individual or household annual income, verifiable during the application. Higher, stable income supports better pricing.

No — Discover personal loans don't accept co-signers or co-applicants. Each application stands on the applicant's own credit and income.

U.S. citizens and permanent residents aged 18+ (19 in Alabama and Nebraska) with a U.S. checking account for disbursement.

No. Rate checks use a soft credit inquiry with zero score impact. A hard inquiry occurs only if you accept a loan offer — and typically costs just a few points temporarily.

As early as the next business day after acceptance, via ACH to your checking account. The hour-by-hour breakdown is in our funding timeline article.

Any amount from $200 to $5,000. The unusually low minimum means you never have to borrow more than the actual expense.

Post-secondary education expenses, and paying any Capital One account directly (including Discover or Capital One credit cards). Consolidating other issuers' cards, emergencies, repairs, and most personal uses are all fine.

12 to 60 months, chosen at application. Shorter terms minimize total interest; longer terms minimize the monthly payment. Model every combination in the loan calculator.

Yes, anytime, with zero prepayment penalty. Extra payments go straight to principal and reduce your total interest.

Change your mind within 30 days of funding, return the full principal, and pay no interest at all. It's our confidence in the product, in writing.

There are no late fees, but missed payments can be reported to credit bureaus and hurt your score significantly. We strongly recommend autopay — and if you're struggling, contact us before the due date to discuss options.

Discover Bank, Member FDIC, operating under Capital One, N.A. following the May 2025 acquisition. The Discover brand, terms, and servicing continue unchanged — more on the About page.

Yes — bank-grade encryption in transit and at rest, with the regulatory oversight that comes with an FDIC-member bank. Details in our privacy policy.

Yes. Payments are reported to the major credit bureaus, so the loan that solves today's need also strengthens your file — the mechanics are in this guide.

We publish honest head-to-heads — including the categories we lose — against SoFi, Upstart, Upgrade, and LightStream.