Personal Loans Rates & Fees

Competitive Fixed Rates and Monthly Payments

How We Determine Your APR

We determine your annual percentage rate (APR) based on several factors, such as your credit history and rating, the amount you want to borrow, and your total debt-to-income ratio. We then present you with a loan offer(s) based on what you can qualify for right now.

How Rates & Fees Work

Interest Rate Icon

Interest Rate

What you pay in interest annually, shown as a percentage of the total amount borrowed.

Origination Fee Icon

Origination Fee

One-time fee of 3-6% of your loan amount based on your credit rating, and charged only when you receive your loan.

Annual Percentage Rate (APR) Icon

Annual Percentage Rate (APR)

The total annual cost of your loan, including interest rate and origination fee, and the true cost of borrowing money. Use APR to compare loan costs across lenders.

Monthly Payment Examples

TermLoan AmountInterest RateOrigination FeeAPRAmount DepositedMonthly Payment
36 Months$6,0009.56%$30013.11%$5,700$192.37
60 Months$20,00010.19%$1,20012.90%$18,800$462.81

Your actual monthly payment will vary based on the terms and conditions of your loan offer (which includes your APR, loan amount, term, and origination fee). The example above is provided for illustrative purposes only; your experience may be different.

Monthly Payment Examples

Interest Rate9.56%
Origination Fee$300
Amount Deposited$5,700
Monthly Payment$192.37
Interest Rate10.19%
Origination Fee$1,200
Amount Deposited$18,800
Monthly Payment$462.81

Your actual monthly payment will vary based on the terms and conditions of your loan offer (which includes your APR, loan amount, term, and origination fee). The example above is provided for illustrative purposes only; your experience may be different.

Frequently Asked Questions

You can use a personal loan for just about anything, including:
  • Paying off high interest rate credit cards
  • Consolidating high interest debt
  • Large, unexpected expenses such as home repairs or medical bills
  • Funerals, weddings, and other major events

Personal loans may not be used for investments, gambling, education after high school, or anything illegal.
After you check your rate, you’ll be given the opportunity to:

    Choose your offer

    If your loan request is approved, you’ll be able to review the loan amount, interest rate, APR, monthly payment, and loan terms.

    Confirm your information

    We ask for your Social Security number, and about your income and employment. If we need any other documents or information, we’ll let you know in your To Do List. Then, hold tight while we look for your investors on our marketplace and wrap up your loan.

    Get funded

    If we find your investor match and your loan is funded, we’ll send the money directly to your bank account, and/or to your creditors if you choose this option. *

The best way to do compare loan offers from different lenders is by looking at the annual percentage rate (APR) for each. APR is the best way to quickly compare the total annual cost to borrow money from different lenders because APR includes all finance charges: interest rate and fees.

A no-fee or low-interest rate loan may look appealing at first sight. However, it’s important you carefully consider the total cost of borrowing money (which means all finance charges, not just interest rate alone) before settling on a loan offer.
The difference between a fixed rate loan and a variable rate loan is the interest rate on a fixed rate loan won’t change, while it will on a variable rate loan. All personal loans offered by LendingClub are fixed rate loans.

With a fixed rate loan, your interest rate, APR, and monthly payment are fixed, meaning these all remain the same over the course of your loan. On a variable rate loan, the interest and APR may change as the market interest rate changes, resulting in you paying more (or less) interest from month-to-month as well as fluctuations in your monthly payment. Learn more about different types of loans.
The biggest difference is a loan application fee is charged (and paid) when you apply for a loan (before you know if your loan will be approved), and an origination fee happens only when you receive your loan funds after you’ve been approved.

Some lenders require you pay an application fee (or, broker fee) simply to apply for their loan. Typically, application fees are non-refundable, even if a lender later decides to decline your loan application. While LendingClub does not charge an application fee on any of its loans, we do charge an origination fee which ranges from 3-6% of your total loan amount (depending on your credit).
LendingClub does not charge any application fee, broker fee, or require any upfront or advance payment of any kind to obtain a loan.

If you were asked to pay such upfront fees by a company representing themselves as LendingClub, please contact us immediately at . We take seriously and investigate all such complaints. Learn more about how to protect yourself from scams.
You can make extra payments on your loan, or pay off your loan in full, at any time with no additional charges or prepayment penalties. If you’re able to, we encourage you to pay your loan off early because you’ll save money on the interest charges that you did not incur due to your early payoff.
As soon as you know you may have difficulty making your payment, please contact us at, or call 877-227-5011. Our team members are here to help answer your questions and talk about the options available to you.

Keep in mind that all of our members receive a 15-day grace period to make payments with no penalty. If your monthly loan payment is not paid within the 15-day grace period, a late fee or other penalty may apply. Learn more