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What fees do borrowers pay?
When a loan is issued, borrowers pay a one-time origination fee (for 36 or 60 month loans) that ranges from 1.11% to 5.00% of the loan amount, depending on your loan grade (A-G), which is based on your credit score, loan purpose, employment type, loan amount, loan term, and credit usage &...
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| 06 Feb, 2012 | |
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What fees does Lending Club charge investors?
You can open an account free of charge.
Our investor service fee is calculated to be one percent (1%) of the amount of the payment processed. Whatever is the calculated amount, we will round the amount of the payment to the nearest whole cent. For example, if you had a payment of...
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| 18 Apr, 2013 | |
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Are the loan rates and investor returns posted on your website “net” of Lending Club’s fees?
Absolutely. The loan APRs (Annual Percentage Rates) posted on our site include the origination fees paid by borrowers and the net annualized return earned by investors are calculated net after service charges and defaults.
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| 21 Feb, 2010 | |
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Does it cost anything to join Lending Club?
No. Registration is free of charge for both borrowers and investors. To join Lending Club as a borrower, click here. To open an investing account, click here.
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| 25 Feb, 2010 | |
