4.7 of 5starsRead Reviews
A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. APR ranges from 8.05% to 35.89% and is determined at the time of application. Origination fee ranges from 3% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that we subsequently obtain 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 from us. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.
I would highly recommend Lending Club. The application process was easy and the loan closed quickly. Would definitely recommend to others.
Not what I expected
I wanted a loan to consolidate the rest of my car payments and credit cards. I have been building up my credit but had never applied for a personal loan. I wanted $11,000 but didn't think I would get approved. Sure enough, I was approved right away and was able to choose from about a dozen options (36 months, 60 months, varying interest rates etc). I picked the 36 month term I wanted and about a week later, including the weekend, I had my money! All I had to submit, after my application were copies of my W-2 form and last two paychecks. I was able to take a picture with my phone and submit it just like that. I can't believe how painless the process was and would recommend Lending Club to anyone!!
I, like many of the reviews, am impressed that I didn't have to speak to anyone as it was all done on-line. I chose to call in about a couple of things and the customer service rep, both times, was really nice, very polite and answered all questions. The process itself was very quick and you didn't feel like you were being judged. Overall it was a great experience.