Discover Personal Loan Review 2022 | Get $35,000 Personal Loan No credit Check

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Discover Overview

Digital is a credit card servicing digital bank and company which is mostly known for its credit cards. But Discover also offers other products like personal loans with fixed rates up to $35,000 with low APR. Also, they offer many interesting offers like personal loans without any origination fees and pre-payment penalties. 

Pros

  • Loan amount starting from $2,500 – $35,000. 
  • Soft Pull Credit check available
  • Discover offers no pre-payment panalty
  • Discover offers no origination fees.{alertSuccess}

Cons 
  • At Discover co-sighners are not accepted. 
  • Discover personal loans require a minimum credit score of 660, which is at the high end of fair credit.
  • Dicover charges a late fees.  {alertError}

 

Can Be Used as Debt Consolidation Loan

Discover offers personal loans for many purposes such as debt consolidation, home improvements, and big purchases. So if you are looking for a big loan amount then Discover can be the best option for you if you have a bad credit score.

Annual Interest Rate and Fees

Discover charges an APR ( Annual percentage rate ) of 5.99-24.99%. which can vary depending upon your credit score and your creditworthiness. 

Minimum Credit Score Required

The requirement of credit score at discover is good to excellent credit score. At Discover personal loans require a minimum credit score of 660, which is at the high end of fair credit.

Offered Loan Amount

Discover offers personal loans from $2,500 – $35,000. Which will also depend upon your credit score and your creditworthiness. 

Eligibility Criteria 

There are some basic requirements you should fulfill before taking a bad credit loan. Here is the list :
  1. You should be at least 18 years old
  2. You must be a United States citizen or have a US Visa
  3. You must have a valid active US bank checking account
  4. You have to provide a valid email address and a phone number

Required Documents

  • Valid Identity Proof, VIsa
  • Have to provide a DOB.
  • Valid current mobile number and Email id.
  • An active American bank account.

Repayments Terms

The repayment term for Discover’s personal loan is from 36 months to 84 months which means 3 to 5 years. There is no prepayment penalty for this loan. You can even repay your loan earlier than repay terms.

Example of the Discover loan

A three-year, $10,000 loan with a 15.5% APR would cost $349 in monthly payments. You’d pay $2,567 in total interest on that loan.

How to Apply for Discover :

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Who is this loan good for

  • People who have excellent credit
  • People who are looking for a loan to consolidate their higher interest rate loan.
  • People who want instant funding into their bank account.
  • Borrowers who are looking for loans without origination fees. 

Editorial Note:  MakeHelpOf does not receive any commission from any website or third-party advertisers. This is just a review article based on consumers’ experiences from the internet. It’s accurate to the best of our knowledge when it’s posted. Please read all the information carefully before you make any decision. {alertInfo}

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