A smarter way to invest and borrow.

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 and apply for a loan free of charge, and you only pay an origination fee upon the successful issuance of your loan. You can prepay anytime - there are no prepayment penalties or fees.

Interest Rates and APRs

Each loan request made by a borrower is attributed a grade ranging from A1 to G5 with a related interest rate. Each loan grade and its corresponding interest rate and annual percentage rate are displayed below.

Loans from $1,000 to $9,975 are only available with a 36-month term.

Loan Grade Interest Rate 36-mo APR 60-mo APR
A1 5.93% 6.68% 7.64%
A2 6.39% 7.75% 8.11%
A3 6.68% 8.40% 8.40%
A4 6.92% 8.99% 8.65%
A5 7.89% 9.97% 9.63%
B1 8.18% 10.98% 10.38%
B2 9.17% 11.99% 11.39%
B3 9.99% 12.82% 12.23%
B4 10.99% 13.84% 13.25%
B5 11.53% 14.38% 13.80%
C1 12.29% 15.90% 14.58%
C2 12.69% 16.31% 14.99%
C3 13.33% 16.96% 15.64%
C4 13.99% 17.64% 16.32%
C5 14.65% 18.31% 16.99%
D1 15.61% 19.29% 17.98%
D2 16.55% 20.26% 18.94%
D3 16.99% 20.71% 19.39%
D4 17.57% 21.30% 19.98%
D5 17.86% 21.60% 20.28%
Loan Grade Interest Rate 36-mo APR 60-mo APR
E1 18.25% 21.99% 20.68%
E2 18.84% 22.60% 21.28%
E3 19.52% 23.29% 21.98%
E4 20.49% 24.29% 22.97%
E5 21.67% 25.49% 24.18%
F1 22.99% 26.84% 25.54%
F2 23.99% 27.87% 26.57%
F3 24.50% 28.39% 27.09%
F4 24.99% 28.89% 27.59%
F5 25.57% 29.49% 28.19%
G1 25.80% 29.72% 28.42%
G2 25.83% 29.75% 28.45%
G3 25.89% 29.81% 28.52%
G4 25.99% 29.92% 28.62%
G5 26.06% 29.99% 28.69%

Origination Fee

We assess an origination fee for providing the services of screening borrowers and issuing the loans. This origination fee is determined by the loan grade of the listing and term as displayed in the following tables:

Loan Term A B C
Sub-Grade 1 2 3 4 - 5 1 - 5 1 - 5
36-Month 1.11% 2.00% 2.50% 3.00% 4.00% 5.00%
60-Month 4.00% 4.00% 4.00% 4.00% 5.00% 5.00%
Loan Term D E F G
Sub-Grade 1 - 5 1 - 5 1 - 5 1 - 5
36-Month 5.00% 5.00% 5.00% 5.00%
60-Month 5.00% 5.00% 5.00% 5.00%

The origination fee is included in the Annual Percentage Rate calculation and is subtracted from the loan proceeds prior to disbursement.

For example, 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 $20,000 60-month loan at an interest rate of 7.62% with a 3.00% origination fee of $600.00, you will receive a loan amount of $19,400.00 and will make 60 monthly payments of approximately $401.90 at an 8.91% APR.

Not all loan terms and rates are available to all loan applicants or requests.

There are no application fees, and you do not pay any origination fee if the loan does not get issued.

Access Loan Interest Rates and Origination Fees

Lending Club Access Loans feature a streamlined application process, fast funding and broader approval criteria than traditional loans via Lending Club. The Annual Percentage Rate for Access Loans ranges from 27.91% to 35.99%, with interest rates between 23.96% and 31.91% and origination fees of 5.00%.

Other Fees

  • Unsuccessful Payment Fee

    When an automatic payment fails and is rejected by the borrower's bank, an Unsuccessful Payment Fee is charged to the borrower to cover the cost Lending Club incurs on the transaction. This could happen if there is insufficient balance in the borrower's bank account, the bank account has been closed or if the account is otherwise suspended. Each attempt to collect the monthly payment is considered a separate transaction, so an Unsuccessful Payment Fee may be assessed for each failed attempt. The amount of an Unsuccessful Payment Fee is $15.

  • Late Payment Fee

    When a borrower's payment is late after a 15-day grace period, a Late Payment Fee is assessed on the 16th day to compensate investors for the delay. This fee is prorated and then passed on to the investors. The amount of a Late Payment Fee is the greater of 5.00% of the unpaid installment amount, or $15. This fee may be charged only once per late payment.

  • Check Processing Fee

    If a borrower elects to make payments via check, there will be a $15 processing fee per payment. There is no additional charge if the borrower makes payments via direct debit from their bank account (ACH).

Investor Fees

Lending Club uses its low operating costs to pass savings on to investors in the form of solid returns and low investing costs. There are no hidden fees or charges. Lending Club collects fees from investors when they receive payment proceeds, so our revenue from investors is tied directly to their cash flow.

  • Service Charge

    Lending Club provides servicing for the loans facilitated through our platform. This includes maintaining investor accounts, collecting and processing principal and interest payments from borrowers, and distributing these payments net of fees to investors. Investors pay Lending Club a service fee equal to one percent (1%) of the amount of any payments received within 15 days of the payment due date. If a borrower misses a payment, investors do not pay a service fee.

  • Collection Fee

    When borrowers miss payments and loans become late, Lending Club uses best practices from the banking industry to bring delinquent loans back to "current" status. Currently, Lending Club charges investors one of the following collection fees, which is deducted from any amount recovered:1) 18% of the amount recovered if the loan is 16 or more days late and no litigation is involved, or 2) 30% of hourly attorneys' fees, plus costs, if litigation is involved. Lending Club does not charge a collection fee if no payments are collected, and no collection fee will be charged in excess of the amount recovered.

    Please note that Lending Club currently charges investors a reduced collection fee, which may be discontinued at any time. The normal collection fee is a percentage of the amount recovered: 30% if the loan is less than 60 days past due and no more than 90 days from the date of origination; 35% in all other cases, except litigation; 30% of hourly attorneys' fees in the event of litigation, plus costs.

Financial Innovation

The math pitch involves the increased efficiency of cutting out the banks, allowing relatively lower rates for borrowers and good returns for lenders.

New York Times

Featured Borrower


"The interest rate on my loan through Lending Club is a third less than what I was paying before, and it’s very satisfying to know that there is an end date for being done with my debt."