What are the Discover personal loan fees? This question is about Discover

Discover personal loans have a $0 origination fee and a $39 late payment fee, but there is no prepayment fee. Discover personal loans also have a minimum APR of 6.99%, which is higher compared to the typical minimum APR for a personal loan. For your convenience, you can see Discover’s personal loan fees and other key terms below. Discover Personal Loan Fees and Other Terms Origination Fee: $0 Late Payment Fee: $39 Prepayment Fee: $0 APRs: 6.99% - 24.99% Loan Amounts: $2,500 - $40,000 Repayment Periods: 36, 48, 60, 72 or 84 months Credit Score Requirement: 660+ Funding Timeline: up to 7 business days Before applying for any personal loan, it’s a good idea to see if you pre-qualify first. To check with multiple lenders at once, try WalletHub’s free pre-qualification tool.

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What are the Discover personal loan fees?

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This question is about Discover

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Grace Enfield, Content Writer

@grace_enfield • 05/02/22 This answer was first published on 05/02/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Discover personal loans have a $0 origination fee and a $39 late payment fee, but there is no prepayment fee. Discover personal loans also have a minimum APR of 6.99%, which is higher compared to the typical minimum APR for a personal loan. For your convenience, you can see Discover’s personal loan fees and other key terms below.

Discover Personal Loan Fees and Other Terms

Origination Fee: $0
Late Payment Fee: $39
Prepayment Fee: $0
APRs: 6.99% - 24.99%
Loan Amounts: $2,500 - $40,000
Repayment Periods: 36, 48, 60, 72 or 84 months
Credit Score Requirement: 660+
Funding Timeline: up to 7 business days

Before applying for any personal loan, it’s a good idea to see if you pre-qualify first. To check with multiple lenders at once, try WalletHub’s free pre-qualification tool.

How can you get Discover personal loan pre-approval?

You can get Discover personal loan pre-approval through the Discover website. Discover pre-approval allows you to see your odds of approval for a personal loan from Discover, as well as your potential interest rate, and the process will have no impact on your credit score.

How to Get Discover Personal Loan Pre-approval

Go to the Discover website.
Click on Check Your Rate.
Enter the loan amount, loan purpose, your name,...

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Does Discover Do a Hard Inquiry for a Loan?

Yes, Discover does a hard credit check before finalizing your loan, which can negatively impact your credit score. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

Discover's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before...

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Is it difficult to get a Discover personal loan?

It is not very difficult to get a personal loan from Discover because they require a credit score as low as 660+ for approval. Other Discover requirements include being at least 18 years old, being a U.S. citizen or permanent resident, and having enough income to afford monthly loan payments.

Discover Personal Loan Requirements

Minimum credit score: 660+ credit score
Minimum Income: $25,000+ per year minimum income
Age: 18+ years...

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