Discover personal loans: APR, fees and requirements

What Discover publishes about its personal loans (6.99% to 24.99% APR), checked on the lender’s own pages, and how its starting rate compares with the other lenders on our list.

Lender type	Bank
APR range	6.99% to 24.99%
Loan amounts	$2,500 to $40,000
Repayment terms	36 to 84 months
Origination fee	None
Minimum credit score	Not published
Funding time	As soon as the next business day after acceptance (if no application errors, funded on a weekday night, and disbursed electronically to a checking/savings account)
Availability	Minimum individual or household annual income of $25,000, age 18+, valid US SSN. State restrictions may apply. Cannot be used to directly pay any Capital One account (including Discover or Capital One credit cards), secured loans or post-secondary education.

How the lender states its rates: “Your APR will be between 6.99% and 24.99% based on creditworthiness at time of application for amounts between $2,500-$40,000 and loan terms of 36-84 months.”

How the starting rate compares

The lowest advertised APR, 6.99%, ranks 8 of 33 among the lenders on our list (1 is the lowest). The Federal Reserve's average for a 24-month personal loan at commercial banks was 11.90% (August 2026). Only borrowers with strong credit get a lender's lowest rate.