Personal Loan Reviews Advertiser Disclosure

Lending Club Personal Loans

Application Process
Customer Service
4.3 5

Get Your Personal Loan Rate from Lending Club Personal Loans

What are you looking to do with your loan?

60

11.39%

estimated

$219

estimated
 

Current Loan

This Loan

 

Change

Balance

$10,000

$10,000

$0

Term (Months)

60

60

0

 

Estimated Interest & Fees

$14,000

$3,170

Down

$10,830

Interest Cost

$14,000

$3,170

Down

$10,830

Lender Fees

N/A

$0

$0

 

Total Monthly Payment

$400

$219

Down

$181

 
Savings:
Monthly Payment Savings over 1 Year

$2,172

Interest & Fee Savings over 5 Years

$10,830

Compare Personal Loan Rates

View your top Personal Loan recommendations and compare rates on Credit Karma.

How Credit Karma Can Help

Credit Karma is an entirely free credit resource. See your credit information, educational tools and more. No catch.
  • Credit Scores
  • Credit Reports
  • Personalized Offers
  • Most Helpful Positive Review

    I am beyond impressed!
    Helpful to 211 out of 226 people

    I rarely write reviews but I really feel like I will be doing many people who are "in my shoes" a disservice if I don't.  I have only been on Credit Karma for a few weeks but I have been helped a lot by various reviews of credit services. I was looking for a loan to pay down my credit cards and raise my credit score (plus have a single payment at lower interest rate) prior to shopping for a car. Whenever I came across a lender, I would log on to Credit Karma to find reviews or comments made by members about them, and so after being prequalified by Lending Club I did the same thing and found a great deal of negative reviews. To say the least I was discouraged almost to the point of not taking the loan but then I decided since they were not likely to do a hard pull (learned that also thanks to this forum), I don't have much to lose, I might as well try. I am glad I made that decision. My loan request was for 4000, I got an interest rate of 10.99 and an APR of 13.84% (36-month term, score 680 according to LC). My loan got fully funded in about 30 hours, and it was so much fun watching that process. The most impressive part of the deal is that verification of my email and bank account were the only requirements and those happened within 24 hours. Soon after the loan was fully funded, loan status changed to "approved" and a few minutes after that to "issued". I received an email from Lending Club informing me that the money had been electronically transferred to my account and that was it! No phone calls to or from Lending Club, no faxes, no paperwork. Total time from application to issuing of the loan was only 36 hours and it was so effortless! Probably some of those who wrote negative reviews might have had genuine reasons to do so but my experience makes me conclude things may have changed for the better or borrower related factors may be partly responsible for at least some of the negative cases (like false information on application, etc), or both. 

    Read More

    bergermedecin's review was:    

     

    Most Helpful Critical Review

    Confusing
    Helpful to 80 out of 96 people

    Let me say that I took out a previous loan with Lending Club and everything was fine. I received the funds and am paying it off. No problem there.

    However, when I tried to take out a second loan, problems quickly began to arise. The website will simply NOT allow you to take out a second loan if you have one already. There is no clear cut direction as to what to do or what to click on.

    I emailed Lending Club and asked if I could take out a second loan and explained the technical issues I was having. Someone responded with "you can only take out a second loan if you had the first loan for 6 months and paid everything on time". That was all the email said. But I have had the other loan for a YEAR and always paid on time. They didn't address my real question or even look up my account. I emailed them again and finally they told me how to get a second loan. You have to actually sign up using a different email address to do this. It was confusing and irritating to have to do that.

    I have had other questions and have gotten one line generic responses via email. You can call them with questions too, but phone lines are only open during the day and early evenings.

    My loan has been 100% funded as of a week ago, but I never received an email stating this. I found out myself when I logged in to my account. I have not received any funds in my bank account either. I don't understand what the hold up is or why there was no communication. I just emailed them yet again with another question.

    It has been two weeks since I posted my loan and I am confused about the status. 

    Bottom line: the loan request process may be time consuming and possibly a waste of time if you never end up getting a loan somehow down the road. Customer service is below average. The website is easy to use for simple tasks but there is limited information available for account holders and not easy to figure out how to take out multiple loans. Overall, not as easy of a process as I once thought it was. Don't know if I would recommend Lending Club to anyone.

    Read More

    Reviews (1274)

    Pleasantly easy

    The whole process was supper easy and convient.  The only negative I have is the origination fee is a little to steep, but I understand the necessity for it.  Overall I would recommend this product to anyone who needs it.  I will definitly apply again in the future.

    Read More
    Easy to apply, terms and service
    Helpful to 1 out of 1 people

    Professional and courteous service

    Read More
    Very easy to apply, good terms, service

    very helpful customer service

    Read More
    True to their word

    Easy to apply and no bait and switch

    Read More
    True to what they offer

    I didn't think I will get approved but they stand behind what they offer. No bait and switch. Application and loan process was painless. 

    Read More
    FAST LOAN

    I Applied May 19 got my loan on May 22!! amazing!

    Read More
    This was a God send.
    Helpful to 0 out of 1 people

    This was the most painless and quick application process for a loan I've every seen. I was a bit sceptical but very pleasantly surpised how simple and quick the whole process was. Nothing but good things to say about The Lending Club. Very Highly recomended !!

    Read More
    Easiest loan experience EVER!!

    This was a great experiance and such an easy process. I was really sceptical of it at first, but I have to say it was very simple and efficent and has just been a great experiance overall. I'd highly recommend it to anyone. 

    Read More
    Easiest loan Ive ever gotten
    Helpful to 2 out of 2 people

    I work at an financial institute. Im have purchased one home, some land and several cars. Im very responsible when it comes to my credit. However,  as time went along I found myself leaning more towards credit cards. One in particular told me that I would have 0% interest for a year and the variable interest. When I spoke to someone they told me with my credit it would be single digits. But as the year went on, it became double digits. I was not very impressed at all. Another credit card that I have had for  15 years never gave me a good rate and when I called for a credit increase told me flat out no because I wasnt responsible. Excuse me,  15 years one late payment (pregnancy, 11 days late) and you said Im not responsible. At that point, I just paid it off and let it sitting as open credit.  So this year when I  recieved my bonus that was WAY less than what I had budgeted in to pay off the credit card, I was very disheartened. I sat on an offer from Lending Club for 4 months HOPING that I could take all extra money and pay off my debt. But there was NO extra money. SO I called my banks, and none of them did personal loans and the ones that did had high interest rates or required me to sell my kidney and soul.  I knew that  we are planning to build a home in the next 4-6 months. So I did my research. And trust me it was a lot of research. I didnt want it to be a loan shark. But trust me everything they said,they did.

    I applied  on a Wednesday morning, agreed to the FIXED RATE terms at an EXcellent interest rate.. I was  fully funded in an hour. They verified my account with the small balance on Thursday morning, Friday morning it was deducted out. Waited over the weekend to hear something back because it kept saying I needed to verify my email. Hmmm, how is that possible if you sent me an email? But I called and I was HAPPY to speak to a person. She did have me verify some personal information but nothing like a bank. She was very helpful. Walked me through the verification steps.. Wednesday morning, I woke up with the money in my account. I logged into my Lending club account and it was just like they said. 

    I immediately paid every credit card to zero balance. I am happy with the fixed dollar amount coming out and IM saving about $275 a month. On good months I will take that extra money and pay it down faster ( did I mention, no prepayment penalities?).

    The one thing that I wish that LC would do= allow us to pay extra online. I know its possible to call it in but what if i get a wild hair at 2am in the morning and want to pay my bills (Ive done this before!)... 
     

    If you are scared or on the fence if this is the right option for you- just be honest, dont take out more than you can afford to pay back and  do what you say you are going to do! 

    Read More
    This process is painless and seamless!

    Applied on Tuesday, received my funds on Friday! I love the idea of people (still) helping people and definitely will find a way to pay it forward!

    Read More

    Add Your Review Of Lending Club Personal Loans

    Rate this product

    Rate your application experience (Optional)

    Application Process

    Customer Service

    What is your experience with this product?

    I Have It

    I Used To Have It

    I Applied For It

    Write your review:

    Profile Image
    Anonymous
    Post as Member

    Company Overview

    Lending Club is an online peer to peer financial community that works to match approved borrowers with investors. The online application process makes applying for a personal loan quick and convenient. Available loan types vary from debt consolidation to special events loans. Loan amounts range from $1,000 to $35,000 with fixed monthly rates. Borrower and investor support is available online or by phone.

    Founded in 2007, LendingClub has helped facilitate more than $5 billion in loans. All loans featured on Lending Club are funded by WebBank, a Utah-chartered Industrial bank headquartered in Salt Lake City.

    **Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at lender websites. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 7% to 30%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval. When evaluating offers, please review the lender’s Terms and Conditions for additional details.