Feel confident in your estimated loan terms and payments
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Principaland interest
The amount you receive from the lender is called the "principal." Each monthly payment will include principal— the amount of borrowed money you're paying back, and interest— the amount paid to the lender.
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Personal loan fees
With some lenders, you'll want to pay close attention to charges of origination fees, closing costs or prepayment penalties. Be sure to factor these in as you budget for your loan and monthly loan payments. A Discover personal loan has no additional fees as long as you pay on time.
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Loan amounts and terms
Before applying for a personal loan, feeling confident about the loan amount and terms you're requesting can make the process more stress-free. You can request a loan amount that varies between lenders. With a Discover personal loan, you can request up to x. Terms define how long you'll hold the loan and can impact your monthly payment. Be sure you explore every option with the payment calculator above.
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Disbursem*nt details
After using the personal loan calculator, applying, and acceptance of your loan, the next step is disbursem*nt of your funds. You can tell us how you want the funds sent to you.We can send the funds directly to many creditors in the case of debt consolidation, or the funds can be deposited into any of your bank accounts. Money can be sent as soon as the next business dayif you’re approved for and accept the loan.
For more personal loans terminology, visit ourPersonal Loans Glossary
