Your APR depends on several factors, such as your credit rating, the amount you want to borrow, and how much you already owe to other creditors. We present a range of loan offers based on what you qualify for.
Borrowers who received a loan to pay off their credit cards or consolidate their debt reduced their rate by an average of 24%.*
Checking your rate generates a soft credit inquiry, which is visible only to you. Creditors and others who use your credit report only see a hard credit inquiry when your loan is issued.
Want to find out what you qualify for? Checking your rate is free, fast, and easy.
Here’s what’s involved in a personal loan through LendingClub.
What you pay each year in interest, shown as a percentage of the total amount you borrowed.
A one-time fee of 1-6%* that’s only charged when you receive your loan. It’s deducted from your loan when the loan is issued, so you’ll receive the amount you applied for minus the origination fee.
The total yearly cost of your loan, including both the interest rate and the origination fee. The APR is the best way to quickly compare your yearly costs for different loan options.
Deposited in your account
($6,000 minus the $300 origination fee)
Your payments each month over 36 months
With a variable-rate loan, the interest rate and APR may change as the market interest rate changes. As a result, you may pay more or less interest from month to month, and your monthly payment may change as well. You can learn more about different types of loans on our blog.
You'll never pay an application or broker fee for a personal loan through LendingClub. Origination fees for personal loans through LendingClub range between 1.00% and 6.00% of the loan amount.
There are just a few things you can’t use a personal loan for, including investments, gambling, education after high school, and anything illegal.
Choose your offer.
You'll receive multiple loan offers if you qualify. Each one shows the loan amount, interest rate, APR, monthly payment, and loan term (either 36 or 60 months).
Complete the application and verify your information.
We ask for your Social Security number, as well as information about your income and employment. If we need any additional documents, we’ll let you know in your To-Do List. Then, hold tight while we review your application.
Get your money.
Once your loan is approved and backed by investors, your money will be automatically deposited into your bank account. The entire process typically takes about 7 days. In some cases, it may take a little longer, particularly if you need to send us additional information or documents.