| Community Rating | Strongly recommended |
| Loan Amount | $5,000 - $50,000 |
| APR | 6.74% - 12.49% |
| Loan Term | 6 - 180 months |
LendKey Personal Loans Review
LendKey Personal Loans is offered by LendKey, a marketplace lender founded in 2008 and based in New York, NY. LendKey Personal Loans is offered in 45 states (and Washington, DC).
What rates and terms does LendKey Personal Loans offer?
LendKey Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.
What personal loan APRs does LendKey Personal Loans offer?
LendKey Personal Loans offers a personal loan product that ranges from 6.74% APR up to 12.49% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via LendKey Personal Loans?
Loan amounts start at $5,000 and go up to $50,000.
What can a personal loan from LendKey Personal Loans be used for?
Personal loans from LendKey Personal Loans are typically used for special purchases, home improvement projects or similar purposes.
What is the maximum loan term you can get with LendKey Personal Loans?
LendKey Personal Loans offers personal loans with terms ranging from 6 to 180 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
| Loan Amount | $5000 - $50000 |
| Loan Term | 6 - 180 months |
| APR | 6.74% - 12.49% |
What fees does LendKey Personal Loans charge?
Does LendKey Personal Loans charge an origination fee?
LendKey Personal Loans does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does LendKey Personal Loans charge a late fee?
Yes, LendKey Personal Loans may charge borrowers a late payment fee of up to $15
Does LendKey Personal Loans charge prepayment fees?
No, LendKey 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 | N/A |
| Prepayment Fee? | No |
| Late Payment Fee | $15 |
What do you need to qualify for LendKey Personal Loans?
Applicants with a credit score of at least 660 and up to 850 are eligible for LendKey Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
To qualify for personal loans with LendKey Personal Loans, applicants need a minimum annual income of $50,000 or higher. LendKey Personal Loans only considers borrowers who are employed and meet the minimum income requirement.
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 LendKey Personal Loans. Their rates fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Driver's license
| Minimum Age | 18 | |
| Bank Account Required? | No | |
| Application Types Accepted |
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| Credit Score | 660 - 850 |
What is the estimated funding time for a personal loan via LendKey Personal Loans?
LendKey Personal Loans will typically provide a credit approval decision in less than an hour and fund the loan within 7 business days.
Does LendKey Personal Loans report your account activity to credit bureaus?
LendKey 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 can help improve your credit score.
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Wisconsin
- Wyoming
Feature Breakdown
| No Origination Fee | |
| No Prepayment Fee | |
| Late Fee Amount | $15 |
LendKey Personal Loans Community Reviews
Would you recommend LendKey Personal Loans to your friends?
