|
Browse by category:
|
|
Showing: 1-8 of 8
Articles
|
|
 |
What is accrued interest and when do I get it?
Accrued interest is the interest that has accrued by the Notes you hold, but that has yet to be collected in a future payment from the borrower. When the payment is received, interest is then realized and deposited in your account.
|
| 22 Feb, 2010 | |
|
What happens if a loan is repaid early?
Borrowers can prepay their loans at any time with no penalty. If a borrower prepays a loan, you will receive your pro rata share of the principal amount outstanding at the time of the prepayment, minus our 1% service fee.
|
| 18 Apr, 2013 | |
|
How long does it take for a borrower payment to show up in my account?
When a borrower makes a payment, it takes up to 4 business days for the money to arrive from the borrower’s bank account. Lending Club then distributes the proceeds immediately to investors.
|
| 28 Dec, 2012 | |
|
Why is there a “pending withdrawal” in my account?
Pending withdrawals are scheduled by the account holder or a service fee that has been charged but not withdrawn from your account yet.
|
| 11 Feb, 2010 | |
|
More About Net Annualized Return (NAR)
Net Annualized Return is based on funds actually received each month, net of our service fee of 1%. We make deductions to account for any defaulting loans. We refer to these deductions as "default status" amounts. As explained below, default status amounts are equal to the outstanding principal...
|
| 18 Apr, 2013 | |
|
How is the service fee charged?
When distributing borrower payments to investors, Lending Club’s 1% service fee is applied. The impact of the 1% service charge on your Net Annualized Return is on average 0.45% on 5-year Notes or 0.71% on a 3-year Notes.
|
| 18 Apr, 2013 | |
|
How do I receive borrower payments?
Lending Club services the loan and collects payments from borrowers. All proceeds (principal and interest) are distributed, net of a 1% service fee, to all investors who purchased notes associated with the loan payment.
|
| 18 Apr, 2013 | |
|
How We Use Rounding
How We Use Rounding for Monthly Borrower Payments
When we calculate payments that are owed to Lending Club by Borrowers, sometimes the calculation results in an amount that would require a payment of less than a penny. For example, if a Borrower takes out a loan for $7,500 at an interest...
|
| 16 Nov, 2012 | |
