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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

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  • Most Helpful Positive Review

    Mar 04, 2014

    I am beyond impressed!
    Helpful to 188 out of 202 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

    Apr 30, 2014

    Abusive and nasty staff
    Helpful to 9 out of 9 people

    I have had a loan with Lending Club for several years and paid each month on time without any problems what so ever.

    I applied for another loan, and none of my information changed from the first loan- same employer, address, etc.

    I called to verify my phone number and was basically told by some obnoxious underwriter that the application was fraudulant.  Now why would I pay my existing loan on time each month and that apply for another loan as a fraudster?

    Absolutely stupid, cancelled the application and took my business elsewhere.  I will pay off the small balance I have with Lending Club and never deal with them again.

    Their underwriters and staff are rude and obnoxious.  BEWARE

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    SYARTHA's review was:    

     

    Reviews (1246)

    Apr 26, 2015

    Fast and Professional
    Helpful to 1 out of 1 people

    I have taken 2 loans out with Lending Club and have had no issues with either one.   I am also a peer lender on the site.  An time that I have needed to talk with someone I have had no issues.  The customer service folks have been professional and helpful everytime.  

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    bmcool10262's review was:    

     
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    Apr 25, 2015

    Easy and quick application process!
    Helpful to 3 out of 3 people

    I had been considering applying for a loan with Lending Club to pay off my high interest credit cards. I wasn't sure how the process worked or what Lending Club is. I called and asked for information and the person was very patient and helpful explaining what I needed to know to make an informed decision. I applied online and within a couple days, I was asked to verify some information, current employment and bank account which I did. I was pleasantly surprised to have been funded a week later! My credit cards are all paid off, my monthly payments are much less than what I was paying before, the interest rate is lower, I will be debt free of credit cards in three years AND my credit score has increased significantly since taking the loan and paying the cards off! This is the best financial decision I've made. Lending Club makes it so easy.

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    lbmcdee's review was:    

     
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    Apr 18, 2015

    Thank you so much Lending club
    Helpful to 2 out of 4 people

    Because all jobs can solve well smoothly, it is appreciated. The document writing was so easy and it was convenient and it was good.

    Thank you very much.

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    Ericasun72's review was:    

     
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    Apr 17, 2015

    Poor Customer Care - SKETCHY
    Helpful to 4 out of 6 people

    They will advertise that they can turn a loan around in 3-5 days, however they have horrible customer service and most of the time the process will take upwards of a month.  I had an easier time buying my house that working with Lending Club on a small home reno loan.  They will give you an account advisor and manager however the account advisors are very unresponsive and do not really help you with any of your questions.  No communication was timely.  Overall I love the idea behind what they are offering, Lending Club needs to get thier customer service in line.

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    eskr2504's review was:    

     
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    Apr 14, 2015

    Easiest loan I have ever applied for
    Helpful to 3 out of 3 people

    I usually just check negative reviews when I look at a product. So I didnt initially apply for a loan through Lending Club because of the bad feedback on here. Since I kept seeing it advertised for an APR below my credit cards I decided to give it a shot. I used the loan to refinance a personal loan I had through Wells Fargo (at a higher rate) and pay off my credit card debt. I asked for and was approved for a $14,000 loan at 8.50% APR. I applied on a Monday night, got approval on Tuesday morning, and had the funds Wednesday. I called customer service to ask about the first payment, and they were nice. I also go through to a person without any trouble.

    For compairison: My Credit Score is 710 (TransUnion is what they used) and at the time of loan application I was using 61% of my revolving credit.

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    FCIpilot's review was:    

     
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    Apr 13, 2015

    Lending club is the best
    Helpful to 1 out of 2 people

    there is no finer loan company anywhere and i will always be a customer

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    18wheler's review was:    

     
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    Apr 10, 2015

    Easy to apply, great rates, convenient!
    Helpful to 2 out of 2 people

    I work in lending myself, albeit in quite a different type of market. The application process was easy to understand and complete. The follow up request for documentation and verification was simple to follow, and it did not require an outrageous amount of effort like other loan companies I'm familiar with. The process from application and loan listing, to funding 6 days. I was able to receive a GREAT rate, have a set payment schedule, and will be saving myself almost $200 a month in payments by consolidating my credit card debt with the Lending Club. Payments are set to come out automatically, with a reminder email to me a few days ahead of time to make sure I have the funds available, and they will work with you on changing a due date either 15 days ahead or 15 days back from your original date.

    Their customer service was top notch. Most polite people I have dealt with on the phone in a long time! And this is coming FROM a customer service rep in the lending field. They understand the product, they sound legitimately happy to help you, and are thorough but concise in their explanations and requests.

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    PupnPony's review was:    

     
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    Apr 03, 2015

    fast and professional
    Helpful to 4 out of 6 people

    whole process took 8 business days. everything done online. :)

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    kasikamen's review was:    

     
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    Apr 02, 2015

    Fast and easy
    Helpful to 2 out of 3 people

    There are no annoying phone calls; everything was online!  I really liked the experience...

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    medmed83's review was:    

     
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    Apr 02, 2015

    Trust when It was needed the most.
    Helpful to 2 out of 2 people

    The whole process was easy and handled with care.  I never felt I was being talked down to.  The agent was courteous and answered all of my questions in simple, easy to understand language.  Even the ones I thought might be redundant.  I was able to pay this off early and that process was super easy also.  I would definitely recommend this to any friend or family member who was in need.

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    Sprial1942's review 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.


    If you receive a $5,000 36-month loan at an interest rate of 6.03% with a 1.11% origination fee of $55.50, you will receive a loan amount of $4,944.50 and will make 36 monthly payments of approximately $152.18 at a 6.78% APR. In the case of a $15,000 60-month loan at an interest rate of 7.90% with a 3.00% origination fee of $450.00, you will receive a loan amount of $14,550.00 and will make 60 monthly payments of approximately $303.43 at a 9.20% APR. Annual Percentage Rates presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at lendingclub.com. The estimated APR presented does not bind Lending Club or any lender originating loans through the Lending Club platform. The range of APR available through Lending Club is 6.68% to 29.99%. Only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR depends upon credit score, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval.

    *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.