Funeral Loans

Personal Loans to Help with Funeral Costs

How much do you need?

How Can a Personal Loan Help?

Faced with making quick decisions about funeral financing, grieving loved ones often turn to variable, high-interest-rate credit cards. A competitive, fixed-rate personal loan can quickly get you the money you need to cover burial, cremation, and other funeral-related expenses. Predictable monthly payments on a defined repayment term can give you peace of mind.

Join Over 4 Million Members Nationwide

  • Borrow up to $40,000

  • Quick and easy online application

  • Eligibility based on credit history

  • Receive money fast upon loan approval

  • No prepayment fees

Why Get a Funeral Loan?

Lock in a Fixed Rate
With an affordable fixed rate, your monthly payment never increases.
Cover All Costs
Confidently plan everything from family members’ travel arrangements to services.
Save money!
Peace of Mind
Predictable monthly payments on a defined repayment term.
Funeral Loans FAQ

Funeral costs can add up quickly. A funeral loan can help make sure those expenses are covered.

  • Traditional burials and embalming services, cremation, and eco (redwood forest) options

  • Funeral home service fees

  • Memorial service fees

  • Funeral plot and grave marker or headstone

  • Casket or vault

  • Burial clothes, including composting suits

  • Urn

  • Hearst and transportation

  • Officiant

  • Musician

  • Flowers and wreaths

  • Travel arrangements for family members

A personal loan for funeral expenses can be a quick and affordable option during an emotional, stressful time. With LendingClub, you can check your rate without obligation or impacting your credit score. Upon loan approval, money is deposited directly into your bank account, typically within two days.

You’ll then make fixed monthly payments for the duration of your repayment term. If at some point you decide to pay off your loan early, no prepayment fees will be applied.

When deciding which personal loan lender is right for you, you’ll want to compare:

  • Loan amounts: Loan amounts vary by lender and eligibility criteria. Funeral services can be costly. Make sure the minimum and maximum loan amounts align with your needs.

  • Interest rate ranges: Interest rates vary by lender. The lower your interest rate, the less your loan will cost overall.

  • Eligibility: Loan approvals are typically based on credit score, payment history, and income, among other factors.

  • Fees: Application costs, origination fees, and prepayment penalties vary by lender and may impact your total cost. Compare APRs across different lenders to understand the true cost of each loan offer.

  • Joint applications: If you think you might not qualify on your own based on your credit history, work with a lender that accepts co-borrowers and apply together for a joint personal loan.

  • Timing: Funeral loans are often time sensitive. Make sure the timing from loan application to funding will work for your needs.

Personal Loans vs. Credit Card Comparison

Personal Loans

  1. Installment loans can help you pay down debt and take control of your budget
  2. Single, fixed rate monthly payment is easy to manage
  3. Fixed monthly payment and payoff date saves you money over time
  4. Lower average APRs compared to credit cards1

Credit Cards

  1. Revolving credit accounts can lead to overspending
  2. Managing multiple credit cards with variable due dates, limits, and terms is time consuming and stressful
  3. Low minimum monthly payments and revolving compound interest can trap you in a cycle of debt
  4. Higher average APRs are an expensive way to pay for large purchases

What Our Members Say

LendingClub was there for me when I was in desperate need. They helped me when I was turned down by my bank and the process was very fast.

—Brenda, a member from California

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How LendingClub Personal Loans Work

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How LendingClub Personal Loans Work

Check Your Rate
Frequently Asked Questions

When you're considering a loan to pay for funeral costs, your credit and payment history play a big role in determining if you qualify, and the rates and terms you receive.

LendingClub lets you check your rate without obligation or a hard credit inquiry.

Many online lenders offer unsecured personal loans you can use to pay for funeral costs. While most online lenders do not require a pre-existing relationship, some banks and credit unions may require you to have an established account before you can apply. Some lenders let you check your rate with a soft credit inquiry, which won’t impact your credit score. To get the best deal, look for lenders who offer no fee loans and compare multiple interest rates.

You may get a personal loan to pay for funeral expenses if your credit scores are below fair. However, you may be limited in what interest rates, terms, and amounts are offered. Submitting a joint application with someone who has good credit can improve your chances of getting a larger loan offer with a more favorable rate.

Many funeral homes today expect payment in full and in advance (or a partial upfront payment at the minimum). If you have time to prepare, compare service costs between funeral homes. Some funeral directors offer payment plans, but these are generally only available to people who are prepaying for their own services.

The cost of a funeral varies widely depending on your location and the services you want. According to the National Funeral Directors Association, the median nationwide cost for a funeral with a viewing and burial is $7,640. Including a vault raises the median to $9,135, while specialty services can be higher. This also doesn’t account for additional charges like markers, obituaries, and monuments.

If you simply can’t come up with the money to pay for burial or cremation costs, you still have options. To start with, if you can't afford to pay for burial costs, state or local governments may be able to provide financial assistance.

The Social Security Administration pays a small grant to eligible beneficiaries to offset some funeral costs. Also, other state and federal government programs may help with emergency funeral funds. Keep in mind federal funding may only be available for certain circumstances, such as when a loved one is eligible for veterans’ burial benefits.

You may also be able to raise money from crowdfunding or local charitable organizations.

  1. On average, Personal Loans from LendingClub Bank are offered at an APR of 14.81% with an origination fee of 6.00% and a principal amount of $19,169 for loans with term lengths of 36 months, based on current credit criteria and an analysis of historical borrower data between October 2023 and December 2023. For credit card purchases made in December 2023, the average APR was 22.70%, according to publicly available information published by TheBalance.com. If a borrower pays off a credit card balance of $18,019 with an APR of 22.70% over 36 equal monthly payments, the borrower will pay $6,990 in total finance charges. If the borrower obtains a Personal Loan with a term of 36 months and an amount financed of $18,019 (principal amount of $19,169 with an origination fee of $1,150 at 14.81% APR, the borrower’s monthly payment will be $623 and the borrower will pay $4,407 in total finance charges over the term of the loan, a savings of $2,583 as compared to the average credit card for borrowers with average credit scores.

Savings are not guaranteed and depend upon various factors, including but not limited to interest rates, fees, term length, and making payments as agreed. 

Reducing debt and maintaining low credit balances may contribute to an improvement in credit score, but results are not guaranteed. Individual results vary based on multiple factors, including but not limited to payment history and credit utilization.

A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $19,169 for a term of 36 months, with an interest rate of 10.49% and a 6.00% origination fee of $1,150 for an APR of 14.81%. In this example, the borrower will receive $18,019 and will make 36 monthly payments of $623. Loan amounts range from $1,000 to $40,000 and loan term lengths range from 24 months to 60 months. Some amounts, rates, and term lengths may be unavailable in certain states.

For Personal Loans, APR ranges from 8.98% to 35.99% and origination fee ranges from 3.00% to 8.00% of the loan amount. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of March 8, 2024 and are subject to change without notice.

Checking a rate through us generates a soft credit inquiry on a person’s credit report, which is visible only to that person. A hard credit inquiry, which is visible to that person and others, and which may affect that person’s credit score, only appears on the person’s credit report if and when a loan is issued to the person. Credit eligibility is not guaranteed. APR and other credit terms depend upon credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and credit usage and history.

Any reviews presented are individual experiences and results may vary. Reviews are collected and authenticated by Bazaarvoice. Any average rating presented is based on these reviews. All reviews can be accessed at https://www.lendingclub.com/company/reviews.

Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Deposit accounts are subject to approval. Deposit products are FDIC-insured up to $250,000 per depositor, per ownership category.

"LendingClub" and the "LC" symbol are trademarks of LendingClub Bank.

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