Borrowers enjoy predictable interest rates ranging from 7.90% to 35.99%, perfect for budgeting.
Support for both small needs and large expenses.
Consolidate debt easily with payments sent directly to credit accounts.
Continue paying off the loan early without fees.
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Predictable Fixed APRs Help with Planning+
With fixed APRs from 7.90% to 35.99%, LendingClub ensures borrowers know their rates and monthly payments upfront. This predictability is especially helpful for budgeting—whether consolidating debt or financing a major purchase—so you’re not surprised by rate changes mid-term.
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Borrow What You Need, Save What You Don’t+
Choose an amount between $1,000 and $50,000, depending on financial goals. Whether it’s $2,500 for a trip or $30,000 for an extensive home renovation, LendingClub’s wide loan range ensures you borrow no more than necessary. This flexibility helps you reduce interest costs and keeps debt manageable.
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Pay Off Cards Directly and Simplify Debt+
When consolidating credit card debt, LendingClub can pay your creditors directly. This removes temptation to reuse credit lines and simplifies your debt into one monthly payment. Many debt-serious borrowers appreciate this streamlined approach to reduce revolving balance risk.
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Add a Co-Borrower and Protect Your Score+
LendingClub allows co-borrowers (e.g., a spouse or parent) which can unlock better loan terms or higher amounts based on combined credit. Plus, you can pre-qualify via soft credit check before a hard pull—helpful in shopping for the best offer without impacting your score.
Top U.S. Personal Loan Options
- LendingClub Personal Loan – Borrow $1,000–$50,000 over 24–72 months with APRs from 7.90%–35.99%, origination fee 0%–8%, fixed payments, and no prepayment penalties
- SoFi – Provides up to $100,000, APRs ~9%–29.99%, no origination fee, and member perks.
- Upstart – Up to $50,000, APRs range ~6.7%–35.99%, and approval uses alternative credit data.
- LightStream – Offers $10,000–$100,000 with low APRs (6.94%–25.79%), same-day funding for strong-credit borrowers.
- Credible Marketplace – Enables comparison of personal loan offers—including LendingClub—in one soft credit check.
Traditional Bank & Credit Union Lending vs. LendingClub
Traditional banks and credit unions often offer low-interest loans with personal service, yet they usually require strong credit profiles, substantial documentation, and slower approval. LendingClub delivers similar structured borrowing—fixed rates, repayment clarity, and regulatory protections—but removes the tasks of visiting a branch, while offering a faster, digitally native experience.
About the LendingClub Personal Loan
LendingClub offers unsecured loans from $1,000 to $50,000 with terms ranging from 24 to 72 months. APRs start at 7.90% and can go up to 35.99%, based on credit history and loan specifics. Origination fees between 0% and 8% are taken from the loan amount, so you receive the net balance. Applications begin with a soft credit pull allowing rate comparison with no impact to your score, and switch to a hard inquiry once you accept the terms. After approval, funds are typically deposited within a few business days, and repayments follow a fixed monthly schedule without penalty for early payment. A typical example shows a $17,413 loan at 12.49% interest with a 6% origination fee, resulting in a 16.86% APR and approximately $582 monthly over 36 months.
Digital Lending Alternatives
Platforms such as SoFi, Upstart, and LightStream compete with LendingClub by enabling quick applications, prequalification via soft pulls, and fast funding—all fully online. Soft prequalifications protect your credit, while final loan terms are clear. LendingClub positions itself with the added benefit of predictable origination fees and reimbursements similar to a bank.
Peer‑to‑Peer & Credit Union Options
Though LendingClub has embraced institutional funding, credit unions and older peer-to-peer platforms like Prosper continue to offer community-driven lenders, with some permitting co-signers or secured loans. LendingClub provides a hybrid—digital reach with standardized, regulated processes and institutional backing.
Borrowers with Moderate Credit Scores
If your credit score is around 600–700, LendingClub may still be a viable option—though APRs may hover near 35.99%. Despite higher rates, this is still a superior choice compared to high-cost payday loans. Fixed-rate payments, clear origination fees, and timely payment reporting help borrowers improve their credit when managed well.
How LendingClub Loans Impact Your Finances & Credit
When you check rates, LendingClub uses a soft credit pull, keeping your score intact. Upon acceptance, a hard inquiry is conducted, which may slightly reduce your score. All repayment activity is reported, so on-time payments help bolster your credit, and missed payments can harm it. Adding an installment loan can improve your credit mix, and repaying early—in the absence of prepayment fees—helps minimize interest and strengthen your credit profile.
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