LendingClub
Check full information about LendingClub — review, rating in 2024. See detailed contact information, financial data, locations and list of branches.
3.98
Branches near me
Financial data
All values USD, Dollar figures in thousandsAll Financial Data LendingClub
5,662,760
4,902,539
4,591,841
760,221
LendingClub Personal loans Pros&Cons
Pros:
- Soft pull: LendingClub does a soft pull for pre-qualification, and it does not affect your credit score. However, if you decide to proceed with the loan, LendingClub will carry out a hard inquiry.
- High approval odds: You may qualify for a personal loan from LendingClub even with fair credit.
- No prepayment penalties: You may choose to pay off your loan ahead of time without worrying about incurring any penalty.
- Joint applications: If you have a lower than required credit score for qualifying, you may increase the chances of approval by getting a co-borrower who has good to excellent credit.
- Multiple loans:You may have two active personal loans at the same time, although their total amount cannot exceed $40,000.
Cons:
- Origination fee: Personal loans come with a 3% to 6% origination fee, depending on your creditworthiness.
- Loan term options: You get to choose from just two loan terms for personal loans – 36 or 60 months.
- Relatively high APR: LendingClub offers loans with APR ranging from 7.04% up to 35.89%. Additionally, it doesn’t offer any discounts for AutoPay, which many lenders do.