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Moving Loans

Make Your Move With a Personal Loan

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What Is a Moving Loan?

Moving loans, or relocation loans, are unsecured personal loans that help cover the cost of moving your household. Especially if you find yourself in a hurry to move, a personal loan for moving offers fixed rates, predictable monthly payments, flexibility on how and when you can use the money, and, best of all, fast funding if approved.

Along with covering costs like moving services, truck rentals, and hotel stays, relocation loans are a convenient way to pay for some or all other related expenses that come with moving, such as security deposits, new furniture, and home repairs.

Why Get a Moving Loan?

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Cover All Costs
Confidently plan for everything from your engagement to the honeymoon.
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Lock in a Fixed Rate
With competitive rates, your monthly payment never increases.
Save money!
Peace of Mind
Predictable monthly payments on a defined repayment term.

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

I was stuck between a rock and a hard place when I suddenly had a work transfer. The loan really helped me out with my moving expenses.

—Douglas, a member from Hawaii 

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How LendingClub Personal Loans Work

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How LendingClub Personal Loans Work

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Frequently Asked Questions

Because most relocation loans are unsecured, your eligibility and offers depend on your creditworthiness, income, and current debt. A good or excellent credit score, steady income, and a good debt-to-income ratio can improve your chance of securing a loan with a low-interest rate and the amount you need.

Once you receive and accept your loan offer, you can use your loan to hire movers, rent a moving truck, pay a security deposit, furnish your new home, cover other moving and living expenses, and more.

At LendingClub, you can precheck your rate without hurting your credit. You then review the loan terms, pick an offer, complete the application, accept the official offer, and funds are deposited directly into your bank account. Once you get the loan, you’ll repay it with fixed monthly payments over a set period of time.

There are moving loans for bad credit borrowers, but you may find the fees and high-interest rates make them a poor option. If possible, try to boost your credit score before applying, or consider taking out a joint loan or using a co-borrower with better creditworthiness. In some cases, using a credit card could be less expensive.

You might also consider cutting costs by renting a truck and asking friends or family to help with your move rather than hiring a moving service.

You can help keep things moving along by checking your to-do list and making sure you have submitted all the documents and information requested.

Moving costs vary depending on where you live, how far you’re moving, and how much stuff you need to move. You can often save money by doing the move yourself rather than hiring movers, though that generally takes more time and planning, and can be very stressful. And keep in mind long-distance relocations are almost always more expensive than a local move, even if you go the DIY route.

  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.

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.

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 collected and authenticated by Bazaarvoice. 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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