Borrow at a low, fixed rate.

Rates and Fees

Up-front rates with no hidden fees

At Lending Club, there are no hidden fees or charges. You can check your rate (with no impact to your credit score) and apply for a loan* free of charge.


All loans feature an affordable fixed rate, which means your monthly payment will never increase! Plus, you can prepay your loan at any time to eliminate future interest payments; there's never a prepayment penalty or fee.


When you apply for a personal loan through Lending Club, each loan offer you receive is assigned a grade ranging from A to G with a corresponding interest rate, origination fee and annual percentage rate ("APR").

An APR shows you the cost of borrowing money on a yearly basis. It can help you quickly compare different loans or credit cards on an apples-to-apples basis. The APR on a personal loan through Lending Club includes both the interest rate and origination fee. The origination fee is deducted from your loan proceeds, and there is no fee if you do not receive a loan. We'll never ask for an upfront payment of any kind.

The range of interest rates, origination fees, and APRs for each loan grade is listed on the table below. You may not be eligible for the full range of rates or loan terms displayed here.

Loan
Grade
Interest
Rate
Origination
Fee
24-Month
APR
36-Month
APR
60-Month
APR
A 5.49% - 7.98% 1% - 2% 6.48% - 9.99%
A 6.03% - 8.19% 1.11% - 3% 6.78% - 10.27% 7.30% - 9.49%
B 8.67% - 11.99% 4% - 5% 11.48% - 14.85% 10.88% - 14.27%
C 12.39% - 14.99% 5% 16.00% - 18.66% 14.68% - 17.34%
D 15.59% - 17.86% 5% 19.27% - 21.60% 17.96% - 20.28%
E 18.54% - 21.99% 5% 22.29% - 25.82% 20.98% - 24.51%
F 22.99% - 25.57% 5% 26.84% - 29.49% 25.54% - 28.19%
G 25.80% - 26.06% 5% 29.72% - 29.99% 28.42% - 28.69%

Additional rates and loan terms are available for qualified borrowers with outstanding creditworthiness.

For example, if you receive a $6,000 36-month loan at an interest rate of 6.99% with a 2% origination fee of $120.00, you'll receive a loan amount of $5,880.00 and will make 36 monthly payments of approximately $185.24 at an 8.36% APR.

In the case of a $20,000 60-month loan at an interest rate of 7.62% with a 3% origination fee of $600.00, you'll receive a loan amount of $19,400.00 and will make 60 monthly payments of approximately $401.90 at an 8.91% APR.

Your actual monthly payment will vary based on the APR, loan amount and term selected.


Other Fees

  • Unsuccessful Payment Fee

    Lending Club sends a reminder every month in advance of the payment due date. There is no need to send a paper check, as we connect directly to your bank account to process your payment automatically. If an automatic payment is rejected by your bank, an Unsuccessful Payment Fee of $15 is charged to cover the cost Lending Club incurs on the transaction. This could happen if there's not enough money in your bank account to cover your loan payment, your bank account has been closed, or if the account is suspended or inaccessible. We may attempt to process your automatic payment up to two additional times and each attempt that is returned unpaid is subject to an Unsuccessful Payment Fee.

  • Late Payment Fee

    To account for unexpected events, you have a 15 day grace period following your monthly due date during which you can make your payment with no penalty or impact to your credit score. After the 15 day grace period, a Late Payment Fee is assessed on the 16th day to compensate investors for the delay. The amount of a Late Payment Fee is the greater of 5.00% of the unpaid installment amount, or $15. We charge this fee once per late payment.

  • Check Processing Fee

    Processing monthly loan payments automatically is one of the many things we do to keep rates low. Handling checks costs more, so if you would like to make your loan payments via check, we charge a $15 processing fee per payment. There is no charge to make payments via direct debit from your bank account (ACH), and there's no fee for paying a loan off early (in fact that saves your money).

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Adrian

"Not only was my interest rate much lower, the process was so easy– all online with no need to physically go to the bank to fill out even more paperwork."