DiscoverPersonalLoans Apply and Reviews (Should You Discover This Loan?)

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Discover Personal Loan

Discover Bank is now in the personal loan business.

After years of offering high-end credit cards, Discover Bank has made the easy transition to the personal loan game.

BUT how does Discover Personal Loans rank with other personal loan companies (i.e. SoFi, Lending Club)?

Let’s take a look!

Here are what some of the bigger financial blogs are saying about a personal loan from Discover.

NerdWallet: 4.5 out of 5 stars “While Discover loans can be used for other purposes, they work particularly well for debt consolidation because of low rates, direct payment of creditors and flexible repayment terms“
BankRate: Rating 4 out of 5 – ‎Review by Robin Saks Frankel

Related Content: Looking for a credit card? Check out the Discover IT card or the line of cards from Capital One at GetMyOffer.CapitalOne.com.

No loan origination fees
No fees as long as you pay on time
Borrow between $2,500 to $35,000
Fixed rates with APRs ranging from 6.99% to 24.99%
Flexible payment plans up to 84 months
Design loan terms around you
If you pay the loan of early you will not be charged a fee
If you have less-than-stellar credit, Discover will most likely deny your application
The max amount one can borrow is $35,000

If you are looking to borrow more than $35,000 consider a personal loan from SoFi.

SoFi allows loans up to $100,000 and an APR range of 5.99% to 16.24%.

Check out our SoFi Personal Loan review for more information.

Lowest credit score personal loans?

The companies with the lowest required credit score appear to be BestEgg and Prosper.

Bother BestEgg and Prosper require a minimum credit score of 640.

Related Content: Looking to Boost your credit rating? Check out Experian.com/Boost today.