
LendingClub Personal Loans
in Personal Loans from LendingClub Inc
Claimed Apply Now Get Personalized RatesLendingClub Personal Loans
in Personal Loans from LendingClub Inc
Would you recommend LendingClub Personal Loans to your friends?
Community Rating | Mostly recommended |
APR (Fixed APR) | 8.05% - 35.89% |
Loan Amount | $1,000 - $40,000 |
Loan Term (Months) | 36 - 60 months |
Number of Reviews | 25 |
LendingClub Personal Loans Review
LendingClub Personal Loans is offered by LendingClub Inc, a marketplace lending platform founded in 2007 and based in San Francisco, CA. LendingClub Personal Loans is available in 49 states (and Washington, DC).
- APRs starting at 8.05%. These are average starting rates for a personal loan. If you have good credit you may qualify for a loan with better rates.
- Fast access to funds. In some cases you can get your money within 1 business day.
- Prequalifed rate. You can check your prequalified rate at LendingClub Inc with a soft pull that will not affect your credit score.
- Origination fees of up to 6%. This is on the high end for lenders on SuperMoney's database. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
- Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for LendingClub Personal Loans.
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What rates and terms does LendingClub Personal Loans offer?
What APR rate does LendingClub Personal Loans offer?
LendingClub Personal Loans offers a fixed APR personal loan product that ranges from 8.05% APR up to 35.89% APR.
How much can you borrow via LendingClub Personal Loans?
Loan amounts start at $1,000 and go up to $40,000
What is the maximum loan term you can get with LendingClub Personal Loans?
LendingClub Personal Loans offers personal loans with terms ranging from 36 to 60 months.
Loan Amount | $1000 - $40000 |
Loan Term | 36 - 60 months |
APR | 8.05% - 35.89% |
What fees does LendingClub Personal Loans charge?
Does LendingClub Personal Loans charge an origination fee?
LendingClub Personal Loans may charge a loan origination fee of 1% to 6% of the loan amount. LendingClub Personal Loans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does LendingClub Personal Loans charge a late fee?
Yes, LendingClub Personal Loans may charge borrowers a late payment fee of up to $15, which is triggered if you're 15 days late.
Does LendingClub Personal Loans charge prepayment fees?
No, LendingClub Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
Origination Fee | 1% - 6% |
Prepayment Fee? | No |
Late Payment Fee | $15 |
What do you need to qualify for LendingClub Personal Loans?
Applicants with a credit score of at least 600 and up to 850 may be eligible for LendingClub Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.LendingClub Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. LendingClub Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via LendingClub Personal Loans. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by LendingClub Personal Loans. Permanent resident / green card holders are also eligible to apply. Not all companies will work with visa holders. LendingClub Inc does offer its services to temporary resident visa holders such as F1 or H1B holders.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Proof of income
- Driver's license
- Proof of citizenship or residence permit
Minimum Age | 18 |
Bank Account Required? | No |
Application Types Accepted |
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Credit Score | 600 - 850 |
What is the estimated funding time for a personal loan via LendingClub Personal Loans?
LendingClub Personal Loans will typically provide a credit approval decision in less than an hour and fund the loan within 3 business days.
Does LendingClub Personal Loans report your account activity to credit bureaus?
Yes, LendingClub Personal Loans reports your account activity to the following credit reporting agencies:
- Equifax
- Experian
- Transunion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
Contact
- Headquarters
-
595 Market St
Suite 200
San Francisco, CA 94105
Other Services by LendingClub Inc
Message From LendingClub Inc
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Feature Breakdown
No Prepayment Fee | |
Late Fee Amount | $15 |
Late Fee Grace Period | 15 days |
Origination Fee (%) | 1% - 6% |
LendingClub Personal Loans Community Reviews
Would you recommend LendingClub Personal Loans to your friends?
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