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Lending Club Personal Loans

Product Holder (1410 Reviews)
Application Process
Customer Service
4.7481999397278 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

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  • Most Helpful Positive Review

    I am beyond impressed!
    Helpful to 313 out of 333 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. 

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    bergermedecin's review was:    

     

    Most Helpful Critical Review

    Confusing
    Helpful to 95 out of 114 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.

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    Reviews (1410)

    it was quick and easy

    customer service was outstanding they answered all my questions and made me feel comfortable going forward 

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    the process was easy and quick

    the money was ready for me in a couple of days and the customer service was outstanding!  they answered every question and was ver informative.  I felt comfortable going forward 

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    Impressed!
    Helpful to 3 out of 4 people

    I applied for this loan through Credit Karma, of which I've been a long time member. Had a credit card that was a huge thorn in my side with a ridiculous interest rate. Would have taken SO long to pay it off. Applied for a loan with Lending Club and was approved right away with a surprisingly low interest rate. I will be able to pay off that credit card now in full and will only take 36 months to pay off this loan. Saved me a ton of money. Also, easy steps process and money was in my account within days! Very happy and impressed!

    Read More
    Easiet loan I ever got
    Helpful to 2 out of 2 people

    Had some high credit card balances (with high interest rates) due to some unexpected travel and medical expenses and had thought about looking for a personal loan to pay them off, but that process is always so tedious and cumbersome.  I thought it might be quicker with online loan companies, but I was never sure who I was working with.  Credit Karma - a company I trust - sent Lending Club to my inbox.  Within about 15 minutes of answering a few questions, I was on my way to a solution.  It took a day for them to verify my bank account, then I got an email that all was a "Go" and that I would receive the funds in my account in "up to 4 business days".  It was there in 2 days.  My credit cards are paid, I have a little extra cash left over, the high interest rates are gone, and I'm looking forward to a higher credit rating.  Thank you Lending Club.

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    New
    Helpful to 1 out of 1 people

    The application and time it took was excllent. I am new, but  all seems to be a very good expereince and has helped me to consolidate my loans into one monthly payment and low interest rate, thank you, Duane

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    FANTASTIC,
    Helpful to 1 out of 1 people

    MY EXPERIENCE WITH LENDING CLUB WAS AWESOME. NO HASSLE, OR QUESTIONS AFTER QUESTIONS. . JUST AN EASY SIMPLE PROCEDURE. THANK YOU SO MUCH. IT HAS RELIEVED MY MIND  AND WORRY.

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    Fast and very simple process
    Helpful to 3 out of 3 people

    The entire process was very simple and amazingly quick. From time of application until funds were in my account it was 4 business days. That being said I have one gripe. It is the orgination fee and was high in my opinion. The amount or estimated amount should have been disclosed prior to my entry of amount needed for debt consolidation. This reduced my available funds by several hundred dollars ($800) not allowing me to payoff all my accounts. 

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    Easy and effecient application process

    Very courteous and responsive phone help to adjust payment date - short wait time. Excellent

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    cathyvanhorn's review was:    

     
    Write A Reply |
    WWOOOOWWWWWW
    Helpful to 6 out of 6 people

    I applied por a loan like 10 days ago and finally got my money into my account, $5000 loan FICO 690 $150.00 monthly just awesomeeeeeeeeeee

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    Glad you were happy with your experience!

    LendingClubRep's reply was:    

     
    Simple and Fast!
    Helpful to 6 out of 6 people

    I have been looking into bank loans for about 6 months now.  I was checking my Credit Karma one day and I noticed "a suggestion" I looked into further, did my research and finally decided to go with Lending Club as suggested.  The process was so simple! I did exactly as told and was able to get the loan I needed within the week.  The rates far surpassed any banks... will I use them again after this one is paid off??? Without a doubt YES!

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    Glad you were happy with your experience!

    LendingClubRep's reply was:    

     

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    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.