LendingClub Personal Loans
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LendingClub Personal Loans
in Personal Loans from LendingClub Inc
Claimed Apply Now Get Personalized Rates

LendingClub Personal Loans

in Personal Loans from LendingClub Inc
SuperMoney Net Recommendation Score +39  


This product is mostly recommended by SuperMoney users with a score of +39, equating to 3.8 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Community Rating Mostly recommended
APR  (Fixed APR) 9.57% - 35.99%
(Verified 10/17/2023)
Loan Amount $1,000 - $40,000
Loan Term (Months) 24 - 60 months
Number of Reviews 33

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. Lending Club loans are available in 50 states (and Washington, DC).

Key Takeaways

  • APRs starting at 9.57%. These are typical starting rates for personal loans.
  • Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
  • Strongly recommended. 22 out of 33 SuperMoney community members recommended LendingClub Personal Loans.
  • Prequalified rate. You can check your prequalified rate at LendingClub Inc with a soft pull that will not affect your credit score.
  • Origination fees of 3% to 8%. This is on the high end for lenders on SuperMoney's database. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money 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.

Lending Club loans Pros & Cons

Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Funding available within 1 business day.
  • Accepts cosigners and coborrowers.
  • APRs as high as 35.99%.
  • Charges an origination fee of up to 8% of the loan amount.
  • Charges a late fee of $15

Lending Club loans FAQ

What interest rates and personal loan terms does Lending Club loans offer?

What interest rates does Lending Club loans offer?

Lending Club loans offers a fixed APR personal loan product that ranges from 9.57% APR up to 35.99% APR.

How much can you borrow via Lending Club loans?

Personal loan amounts start at $1,000and go up to $40,000

What is the maximum loan term you can get with Lending Club loans?

Lending Club loans offers loans with terms of up to 60 months.

Lending Club loans Interest Rates & Loan Terms
Personal Loan Amount $1000 - $40000
Loan Term 24 - 60 months
APR 9.57% - 35.99%

What fees does Lending Club loans charge?

Does Lending Club loans charge an origination fee?

Lending Club loans may charge a personal loan origination fee of 3% to 8% of the personal loan amount. Lending Club loans deducts the origination fee directly from your personal loan amount, so make sure you take this fee into account when deciding how much you need to borrow.

Does Lending Club loans charge a late fee?

Yes, Lending Club loans may charge borrowers a late payment fee if you miss one of the monthly payments of up to $15, which is triggered if you're 15 days late.

Does Lending Club loans charge prepayment fees?

No, Lending Club loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

Lending Club loans Fees
Origination Fee 3% - 8%
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 660 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 eligible to apply for the services offered by LendingClub Personal Loans.

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
Lending Club loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Co-borrowers
  • Cosigners
  • Individual Applications
Credit Score 660 - 850

What is the estimated funding time for a personal loan via Lending Club loans?

Lending Club 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.

Are LendingClub Personal Loans legit?

LendingClub Inc was founded in 2007, it is a well-established company that has been in business for 16 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.

LendingClub Personal Loans Disclosure: Checking a rate through us generates a soft credit inquiry on a person’s credit report, which is visible only to that person. A hard credit inquiry, which is visible to that person and others, and which may affect that person’s credit score, only appears on the person’s credit report if and when a loan is issued to the person. Credit eligibility is not guaranteed. APR and other credit terms depend upon credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and credit usage and history. Between April 1, 2023 and June 30, 2023, Personal Loans issued by LendingClub Bank were funded within 30 hours after loan approval, on average. 46% of Personal Loans issued by LendingClub Bank during the same period were funded within 24 hours after loan approval. Loan approval, and the time it takes to issue a credit decision, are not guaranteed and individual results vary based on creditworthiness and other factors, including but not limited to investor demand. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $19,854 for a term of 36 months, with an interest rate of 10.29% and a 6.00% origination fee of $1,191, for an APR of 14.60%. In this example, the borrower will receive $18,663 and will make 36 monthly payments of $643. Loan amounts range from $1,000 to $40,000 and loan term lengths range from 24 months to 60 months. Some amounts, rates, and term lengths may be unavailable in certain states. For Personal Loans, APR ranges from 9.57% to 35.99% and origination fee ranges from 3.00% to 8.00% of the loan amount. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of July 11, 2023 and are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. LendingClub Bank is not an affiliate of Super Money LLC, which is an unrelated third party (“third party”). LendingClub Bank is not responsible for any products and services provided by this third party and may receive compensation if you visit the third party’s websites or use any of its products or services. Credit eligibility is not guaranteed. Loans are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Certain information that LendingClub Bank subsequently obtains as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan. Loan closing is contingent on accepting all required agreements and disclosures. “LendingClub” and the “LC” symbol are trademarks of LendingClub Bank.
SuperMoney Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Lending Club loans

Our mission is to transform the banking system to make credit more affordable and investing more rewarding.

Message From Our Editor

What We Love About LendingClub Loans

LendingClub’s balance transfer loan is a great choice for borrowers who want to consolidate their debt. It offers competitive rates and the option of joint or co-signed loans. We also like that it offers a soft credit pull when determining eligibility.

What LendingClub Loans Could Do Better

LendingClub is doing quite a few things right, but its rates are higher than some of its competitors and it only offers limited term lengths. This may be an issue for borrowers looking for larger loan amounts and longer terms.

LendingClub’s Backstory

Lending Club has been around since 2006, but it was not all easy sailing when they started. They had to deal with a negotiation with the SEC to survive, and it was just a short time later that the country was dealing with a recession. The company proved to have some staying power though, and they’ve grown to become the most popular lending marketplace.

The Verdict

LendingClub is a fair-credit lender that provides competitive rates and a smooth application process. Other lenders to consider are Sofi and Prosper. You’ll find that Prosper has higher rates, but it’s easier to qualify, and with SoFi, the rates are lower, but it’s harder to qualify. LendingClub is a nice middle ground that could be a good solution for many borrowers. Of course, you’ll always want to check out the competition and make sure that this is the right choice for you.


  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Late Fee Amount $15
Late Fee Grace Period 15 days
No Prepayment Fee
(Verified 10/17/2023)
Origination Fee (%) 3% - 8%
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Unemployed
  • Other
Immigration Status Considered
  • U.S. Citizen
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Cash
  • 1099 Misc. Income
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
Credit Score Range 660 - 850
Approval Speed 0 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 3 days
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
Pre-Qualified Soft Credit Inquiry
APR Type Fixed APR
Loan Amount $1,000 - $40,000
APR (Fixed APR) 9.57% - 35.99%
(Verified 10/17/2023)
Loan Term 24 - 60 months

LendingClub Personal Loans Community Reviews


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This product is mostly recommended by SuperMoney users with a score of +39, equating to 3.8 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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