SoFi vs Discover Personal Loans 2026
SoFi offers lower starting APRs (5.99%) and larger loan amounts up to $405,000, while Discover provides faster funding (as soon as next business day) and lower minimum credit scores, making it accessible to borrowers with fair credit.
SoFi Personal Loans
Online lender offering personal loans from $5,000-$405,000 with rates starting at 5.99% APR
Borrowers with good-to-excellent credit seeking large loans, lower rates, and flexible repayment options
Discover Personal Loans
Online lender providing personal loans from $2,500-$35,000 with no origination fees and rates from 6.99% APR
Borrowers with fair-to-good credit, those needing quick funding, and anyone seeking smaller personal loans without origination fees
Quick Answer
AI SummarySoFi offers lower starting APRs (5.99%) and larger loan amounts up to $405,000, while Discover provides faster funding (as soon as next business day) and lower minimum credit scores, making it accessible to borrowers with fair credit.
Our Verdict
AI-assistedChoose SoFi if you have good-to-excellent credit and need a large loan amount with competitive rates and flexible terms. Choose Discover if you have fair credit, want zero origination fees, need fast funding, or prefer borrowing smaller amounts with no hidden costs.
Was this verdict helpful?
TIE — neck and neck
Choose SoFi Personal Loans if
Borrowers with good-to-excellent credit seeking large loans, lower rates, and flexible repayment options
Choose Discover Personal Loans if
Borrowers with fair-to-good credit, those needing quick funding, and anyone seeking smaller personal loans without origination fees
Track this comparison
Get notified when prices change, new specs ship, or our verdict updates.
Triggers: price change new spec verdict update
No spam. Stop anytime.
Key Differences at a Glance
- Starting APR:✓ SoFi Personal Loans wins(5.99% vs 6.99%)
- Maximum Loan Amount:✓ SoFi Personal Loans wins($405,000 vs $35,000)
- Funding Speed:✓ Discover Personal Loans wins(Next business day vs 1-3 business days)
Key Facts & Figures
24 numeric metrics compared
| Metric | SoFi Personal Loans | Discover Personal Loans | Ratio |
|---|---|---|---|
| Starting APR (Best Case)(%) | 5.99% | 6.99% | |
| Maximum APR (Worst Case)(%) | 32.98% | 36.00% | |
| Maximum Loan Amount(USD) | $405,000 | $100,000 | |
| Minimum Credit Score(points) | 660 | 640 | |
| Starting APR(%) | 5.99% | 6.99% | |
| Origination Fee(%) | 0-2.5% | 0% | |
| Funding Speed(days) | 1-3 business days | Same day (same business day) | |
| Minimum Credit Score(score) | 680 | 600 | |
| Application Time(minutes) | 10-15 minutes | 5 minutes average | |
| Minimum APR(%) | 5.99% | 6.99% | |
| Maximum Loan Amount(USD) | $405,000 | $35,000 | |
| Minimum Loan Amount(USD) | $5,000 | $2,500 | |
| Funding Timeline(business days) | 1-3 days | Next business day (1 day) | |
| Maximum Loan Term(months) | 84 months | 84 months | |
| Minimum Loan Term(months) | 24 months | 36 months | |
| Minimum Loan Amount(USD) | $2,500 | $2,500 | |
| Funding Speed(days/hours) | 1 business day | 1 business day | |
| Cost Comparison (36-Month $10,000 Loan at 12% APR)(USD total interest) | $2,256 ($300 origination + $1,956 interest) | $2,256 ($300 origination + $1,956 interest) | |
| Maximum Loan Term(months) | 84 months | 84 months | |
| Loan Amount Range (Maximum)(USD) | $40,000 | $40,000 | |
| Loan Amount Range (Minimum)(USD) | $2,500 | $2,500 | |
| Minimum Credit Score Required(score) | 640 | 640 | |
| APR Range (Low End)(%) | 6.99% | 6.99% | |
| APR Range (High End)(%) | 36% | 36% |
Sourced from publicly available data ·
Key Differences
7 attributes compared head-to-head
- 5.99%(winner)Starting APR6.99%
- $405,000(winner)Maximum Loan Amount$35,000
- 1-3 business daysFunding SpeedNext business day(winner)
- 680 (Good credit)Minimum Credit Score600 (Fair credit)(winner)
- 0-2.5%Origination Fee0% (no origination fee)(winner)
- 24-84 months(winner)Loan Term Options36-84 months
- NonePrepayment PenaltyNone
- Starting APR
SoFi Personal Loans
5.99%(winner)
Discover Personal Loans
6.99%
- Maximum Loan Amount
SoFi Personal Loans
$405,000(winner)
Discover Personal Loans
$35,000
- Funding Speed
SoFi Personal Loans
1-3 business days
Discover Personal Loans
Next business day(winner)
- Minimum Credit Score
SoFi Personal Loans
680 (Good credit)
Discover Personal Loans
600 (Fair credit)(winner)
- Origination Fee
SoFi Personal Loans
0-2.5%
Discover Personal Loans
0% (no origination fee)(winner)
- Loan Term Options
SoFi Personal Loans
24-84 months(winner)
Discover Personal Loans
36-84 months
- Prepayment Penalty
SoFi Personal Loans
None
Discover Personal Loans
None
Full Comparison
| Attribute | SoFi Personal Loans | Discover Personal Loans |
|---|---|---|
| Starting APR (Best Case)(%) | 5.99%(winner) | 6.99% |
| Maximum APR (Worst Case)(%) | 32.98%(winner) | 36.00% |
| Origination Fee Range(%) | 0%-1.55% | 0%(winner) |
| Maximum Loan Amount(USD) | $405,000(winner) | $100,000 |
| Loan Term Length(years) | 2-7 years | 3-7 years |
| Loan Term Options(months) | 24-84 months | 36-84 months |
| Prepayment Penalty | None | None |
| Minimum Loan Amount(USD) | $2,500 | — |
Show 1 more attributeLoan Term Options(years) 3, 5, 7 — | ||
| Minimum Credit Score(points) | 660 | 640(winner) |
| Minimum Credit Score(score) | 680 | 600(winner) |
| Minimum Credit Score Required(score) | 640 | — |
| Funding Timeline(Days) | 1-3 days | 1 day |
| Funding Timeline(business days) | 1-3 days | Next business day (1 day)(winner) |
| Job Loss Protection Available(months coverage) | Up to 12 months(winner) | None |
| Starting APR(%) | 5.99%(winner) | 6.99% |
| APR Range(%) | 6.99% - 36% | — |
| Origination Fee(%) | 0-2.5% | 0%(winner) |
| Minimum APR(%) | 5.99%(winner) | 6.99% |
| Funding Speed(days) | 1-3 business days | Same day (same business day)(winner) |
| Application Time(minutes) | 10-15 minutes | 5 minutes average(winner) |
| Maximum Loan Amount(USD) | $405,000(winner) | $35,000 |
| Minimum Loan Amount(USD) | $5,000 | $2,500(winner) |
| Maximum Loan Term(months) | 84 months | 84 months |
| Minimum Loan Term(months) | 24 months(winner) | 36 months |
| Origination Fee(USD (percent of loan)) | $0-$225 (0-8%) | — |
| Funding Speed(days/hours) | 1 business day | — |
| Cost Comparison (36-Month $10,000 Loan at 12% APR)(USD total interest) | $2,256 ($300 origination + $1,956 interest) | — |
| Maximum Loan Term(months) | 84 months | — |
| Prepayment Penalty | None | — |
| Loan Amount Range (Maximum)(USD) | $40,000 | — |
| Loan Amount Range (Minimum)(USD) | $2,500 | — |
| APR Range (Low End)(%) | 6.99% | — |
| APR Range (High End)(%) | 36% | — |
Show 1 more attribute
Pros & Cons
10 pros·6 cons across both
SoFi Personal Loans
Pros
- Lowest starting APR at 5.99% for well-qualified borrowers
- Highest loan amount available up to $405,000
- Flexible terms from 24-84 months for lower monthly payments
- Member benefits including financial planning tools and unemployment protection
- No prepayment penalties
Cons
- Requires minimum 680 credit score (excludes fair credit borrowers)
- Origination fee ranges 0-2.5%, adding $50-$1,012.50 to loan cost
- Funding takes 1-3 business days, slower than competitors
Discover Personal Loans
Pros
- Zero origination fees (saves $0-$875 compared to competitors)
- Accepts fair credit scores as low as 600
- Fastest funding available next business day
- Simple application process with instant decision option
- No prepayment penalties or hidden fees
Cons
- Maximum loan amount capped at $35,000 (limited for large needs)
- Minimum starting APR 6.99%, 1% higher than SoFi best rate
- Shorter term options (36-84 months) limit payment flexibility
Frequently Asked Questions
5 questions
SoFi offers lower starting rates at 5.99% APR compared to Discover's 6.99%. However, actual rates depend on credit score and other factors. For a $15,000 loan at 5.99% over 60 months, SoFi's minimum rate saves approximately $1,200 in interest compared to Discover's 6.99% rate.
Resources & Learn More
Curated sources to dive deeper
Wikipedia
- W
SoFi Personal Loans on Wikipedia (opens in new tab)
Online lender offering personal loans from $5,000-$405,000 with rates starting at 5.99% APR
- W
Discover Personal Loans on Wikipedia (opens in new tab)
Online lender providing personal loans from $2,500-$35,000 with no origination fees and rates from 6.99% APR
Related Comparisons
12 more to explore
SoFi Personal Loans vs Discover Personal Loans
financeMarcus vs Discover Personal Loans
financeMarcus by Goldman Sachs vs Discover Personal Loans
financeBitcoin vs Ethereum
economyNetflix vs Disney+
companiesUS Economy vs China Economy
economyStock Market vs Real Estate
economy401(k) vs IRA
financeCapital One vs LendingClub
financeIndex Fund vs Active Fund
financeCoinbase vs Binance
financeBitcoin vs S&P 500
finance
Related Articles
2 articles
- finance
Are Chase and Capital One Affiliated?
No — Chase and Capital One are completely separate, competing companies with no shared ownership, no common parent, and no shared rewards program. Here's who owns each bank and how they actually compare.
Read article - finance
Is State Farm or Farmers Cheaper for Home Insurance?
State Farm is generally cheaper than Farmers for home insurance — averaging $1,300–$1,500/year vs. $1,500–$1,800/year. But rates vary by state, home age, and risk profile. Here's when each insurer wins on price.
Read article
Explore More
Related comparisons and categories