A personal loan allows you to borrow money from a lender for almost any purpose, typically with a fixed term, a fixed interest rate, and a regular monthly payment schedule. Collateral is usually not required and personal loans typically have lower interest rates than most credit cards.
Since interest rate and loan terms on a personal loan are fixed, you can select a loan and payment amount that fits within your budget—which is great when you’re consolidating debt. Plus, you’ll know the exact date your loan will be fully paid off. Using a personal loan to consolidate high-interest credit card debt might even help improve your credit score. *
Refinance your credit cards with a personal loan—and know the exact date your loan will be paid off.
Lock in a lower APR and save time by paying creditors directly through LendingClub—just tell us who to pay and how much.
Simplify your debt—and your life—with a single monthly payment on an affordable, fixed-rate loan.
Start your home improvement project now, without waiting for a home equity loan or line of credit.