Is SoFi or Discover cheaper for a personal loan?

Neither is always cheaper. The lower-cost loan is the one with the better actual APR, fees, amount financed, term, and total repayment for your profile. SoFi has fee and no-fee options; Discover says it charges no personal-loan fees.

Which lender offers smaller personal loans?

Discover advertises loans beginning at $2,500; SoFi advertises a $5,000 minimum. This does not mean every applicant qualifies for the minimum.

Which lender offers larger personal loans?

SoFi advertises up to $100,000 and Discover up to $40,000. Income, credit, state restrictions, and underwriting determine whether any requested amount is available.

Does checking a rate hurt my credit score?

Both companies describe a soft initial rate check. A later full application or lender underwriting can involve a hard inquiry; check the disclosure immediately before authorizing it.

Are SoFi and Discover both personal-loan lenders?

Yes. Both advertise personal installment loans with scheduled repayment. SoFi loans are originated by SoFi Bank, N.A.; Discover Personal Loans are made by Capital One, N.A. Their advertised terms and underwriting differ.

What should I compare besides the advertised APR?

Compare the same requested amount and term, any origination fee, net cash received, monthly payment, total repayment, and the lender’s final disclosure. An advertised rate is not your personalized offer.

Is Credit N Lending affiliated with either lender?

This independent comparison does not establish that either lender participates in Credit N Lending’s network. Credit N Lending is a separate marketplace, not a lender.

Direct-lender comparison | Sources checked October 7, 2026

SoFi vs. Discover Personal Loans: Fees, Terms and Loan Amounts

Updated October 19, 2026.

By Credit N Lending Editorial Team | Reviewed by Credit N Lending Policy Review Team (rate and compliance review). Published and sources checked October 7, 2026. See our editorial standards and corrections policy.

SoFi

Discover

The marks identify the companies discussed; they do not imply sponsorship, endorsement, or a Credit N Lending network relationship.

The answer in 30 seconds

Discover is worth checking first if you need under $5,000 or strongly prefer its stated no-fee policy. SoFi is worth checking if you need more than $40,000 or want to test a two-year term. For amounts both advertise, neither wins without your actual offer: compare APR, origination fee, net proceeds, monthly payment and total repayment on the same amount and term.

This compares public product disclosures, not personalized quotes or approval odds. Product terms may change after our source-check date; see the relationship and rate-scope disclosure near the end of the page.

Published terms, side by side

These are advertised product parameters, not offers available to every borrower. All terms below were checked against lender-owned pages on October 7, 2026.

Published SoFi and Discover personal-loan terms
Factor	SoFi	Discover	What it means
Loan amounts	$5,000 to $100,000 [S]	$2,500 to $40,000 [D]	The overlapping advertised range is $5,000 to $40,000; availability still depends on eligibility and state.
Published APR ranges	6.99% to 35.49% APR in SoFi’s no-origination-fee, 24-month example; other terms have different ranges, and the low end includes conditional discounts. [S]	6.99% to 24.99% APR in Discover’s comparison table, based on lender information through September 8, 2026. [D]	These are published examples, not personalized offers or directly comparable quotes. Recheck each lender page before applying.
Repayment terms	24 to 84 months in published examples [S]	36 to 84 months shown on the product page [D]	SoFi shows a two-year option; Discover starts its displayed choices at three years.
Origination fees	SoFi shows options with no origination fee and options with a fee; its product disclosure gives a 0% to 7% range. [S]	Discover says it charges no personal-loan fees. [D]	Compare net cash received and total repayment, not APR alone.
Rate check	SoFi says checking rates uses a soft pull; proceeding can require a hard inquiry. [S]	Discover says checking your rate will not affect your credit score. [D]	A later formal application or lender review may involve a hard inquiry; read each consent screen.
Funding	SoFi describes conditional same-day funding for some approved loans. [S]	Discover says funds may be sent as soon as the next business day after acceptance. [D]	Neither timeline is guaranteed; verification and the receiving bank can delay access.

Loan amounts

SoFi: $5,000 to $100,000 Source
Discover: $2,500 to $40,000 Source

The overlapping advertised range is $5,000 to $40,000; availability still depends on eligibility and state.

Published APR ranges

SoFi: 6.99% to 35.49% APR in SoFi’s no-origination-fee, 24-month example; other terms have different ranges, and the low end includes conditional discounts. Source
Discover: 6.99% to 24.99% APR in Discover’s comparison table, based on lender information through September 8, 2026. Source

These are published examples, not personalized offers or directly comparable quotes. Recheck each lender page before applying.

Repayment terms

SoFi: 24 to 84 months in published examples Source
Discover: 36 to 84 months shown on the product page Source

SoFi shows a two-year option; Discover starts its displayed choices at three years.

Origination fees

SoFi: SoFi shows options with no origination fee and options with a fee; its product disclosure gives a 0% to 7% range. Source
Discover: Discover says it charges no personal-loan fees. Source

Compare net cash received and total repayment, not APR alone.

Rate check

SoFi: SoFi says checking rates uses a soft pull; proceeding can require a hard inquiry. Source
Discover: Discover says checking your rate will not affect your credit score. Source

A later formal application or lender review may involve a hard inquiry; read each consent screen.

Funding

SoFi: SoFi describes conditional same-day funding for some approved loans. Source
Discover: Discover says funds may be sent as soon as the next business day after acceptance. Source

Neither timeline is guaranteed; verification and the receiving bank can delay access.

Discover Personal Loans are made by Capital One, N.A.; SoFi personal loans are originated by SoFi Bank, N.A. Their current product and legal disclosures identify the lenders and control actual offers.

How do these personal loans work?

SoFi and Discover both offer personal installment loans: an approved borrower receives a set loan amount and repays it on a schedule. The CFPB explains this repayment structure. Neither lender’s published amount range means that everyone qualifies for that amount. Each evaluates the applicant and provides its own final terms.

Start with loan purpose

For debt consolidation, compare the new total cost with what you would pay on existing balances. For a home improvement project, compare an unsecured loan with any home-equity alternative before pledging your property.

Match amount and term

Use the same requested amount and repayment term when comparing offers. A longer term can lower the monthly payment while increasing total interest. Estimate both in the personal-loan calculator.

Check the cash received

If an origination fee is deducted from proceeds, the cash received can be less than the stated principal. Compare APR, net proceeds and total repayment with the fee and net-proceeds calculator.

The CFPB notes that fees can change an installment loan’s cost. For broader eligibility, credit-score and application context, see our personal-loan guide.

A cost example you can reproduce

Suppose two hypothetical no-fee offers each finance $10,000 for 36 months. One charges 12% annual interest and the other 15%. Using a fixed-payment amortization formula, payment = P × r / (1 − (1 + r)⁻ⁿ), where P is principal, r is the annual rate divided by 12, and n is 36 payments:

12% illustrative rate

$332.14 / month

About $11,957.15 in total payments before rounding.

15% illustrative rate

$346.65 / month

About $12,479.52 in total payments before rounding.

The difference is about $522.37 over 36 payments. These are not SoFi or Discover quotes. This example assumes no origination fee and uses the stated annual interest rate as the periodic-interest input; for a no-fee loan, that corresponds to the same stated APR under these assumptions. When an offer charges an origination fee, its APR and amount disbursed require separate review; do not simply add the fee to an APR-based illustration. Rounding can change the final payment.

Vary the amount and term in our personal-loan calculator, then review rate and term context. An actual lender's Truth in Lending disclosure controls your real cost.

Who should check which lender first?

Need $2,500–$4,999?

Discover's advertised minimum includes this range. SoFi's currently published $5,000 minimum does not. Discover still has to approve the amount and terms.

Need $40,001–$100,000?

SoFi advertises amounts in this range; Discover's published maximum is $40,000. A larger stated ceiling is not approval for a large loan.

Need $5,000–$40,000?

Both advertise this overlap. Check the same amount and term with each, then compare actual APR, fee, cash received, and payoff cost. A no-fee option can still cost more if its interest rate is materially higher.

Do not choose on funding headlines alone

SoFi describes conditional same-day funding; Discover says funds may be sent as early as the next business day. Those are different processes, not promises. Approval time, verification, signature cutoff, and the receiving bank affect when money is actually usable. If the expense cannot wait, check the lender's specific timeline before relying on it.

How we built this comparison

We selected two U.S. direct-lender personal-loan products with published public disclosures. We compared six borrower-relevant factors: amount range, published APR context, available terms, origination-fee treatment, credit-check stage, and conditional funding timeline. We used the lender's own product, rate, and legal pages rather than third-party rankings. A feature was included only when an official source supported it.

We did not apply for loans, receive personalized quotes, test approval rates, inspect private underwriting, or verify that every state and borrower can use every advertised feature. Published APRs and offers can change. We do not assign a star rating or label either lender “best” for everyone. This page is independent of any lender-network relationship. Read the editorial and corrections policy and about Credit N Lending for our marketplace role.

Lender-owned disclosures and the stated payment formula support this comparison's factual claims. Sources were checked on October 7, 2026, and we will update dated terms when we verify a material change. Report a questionable claim through the contact page and include this page's URL.

Questions borrowers ask

Is SoFi or Discover cheaper for a personal loan?: Neither is always cheaper. The lower-cost loan is the one with the better actual APR, fees, amount financed, term, and total repayment for your profile. SoFi has fee and no-fee options; Discover says it charges no personal-loan fees.
Which lender offers smaller personal loans?: Discover advertises loans beginning at $2,500; SoFi advertises a $5,000 minimum. This does not mean every applicant qualifies for the minimum.
Which lender offers larger personal loans?: SoFi advertises up to $100,000 and Discover up to $40,000. Income, credit, state restrictions, and underwriting determine whether any requested amount is available.
Does checking a rate hurt my credit score?: Both companies describe a soft initial rate check. A later full application or lender underwriting can involve a hard inquiry; check the disclosure immediately before authorizing it.
Are SoFi and Discover both personal-loan lenders?: Yes. Both advertise personal installment loans with scheduled repayment. SoFi loans are originated by SoFi Bank, N.A.; Discover Personal Loans are made by Capital One, N.A. Their advertised terms and underwriting differ.
What should I compare besides the advertised APR?: Compare the same requested amount and term, any origination fee, net cash received, monthly payment, total repayment, and the lender’s final disclosure. An advertised rate is not your personalized offer.
Is Credit N Lending affiliated with either lender?: This independent comparison does not establish that either lender participates in Credit N Lending’s network. Credit N Lending is a separate marketplace, not a lender.

Primary sources

Sources are provided to verify facts, not as lender application links. Check them again before making a decision because products change.

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Marketplace relationship and rate scope

Credit N Lending is not SoFi, Discover, or a lender. This independent article does not establish that either company is in our lender network. We may receive compensation from participating lenders; submitting a request does not guarantee a match, multiple offers, approval, or a lower rate. The site-wide Credit N Lending APR disclosure applies to loans promoted through our marketplace, not every SoFi or Discover product described editorially here. Lenders set their own rates, fees, terms and credit decisions.