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
What you pay in interest annually, shown as a percentage of the total amount borrowed.
Origination Fee
One-time fee of 3.00% to 8.00% of your loan amount based on your credit rating, and charged only when you receive your loan.
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 Fee RateOrigination FeeAPRAmount DepositedMonthly Payment
24 Months$11,00014%5%$55017%$10,450$528
36 Months$18,00012%5%$90014%$17,100$598
48 Months$18,00014%6%$1,08016%$16,920$492
60 Months$21,00016%6%$1,26017%$19,740$511

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 based on loan terms offered from September – November 2023 and is provided for illustrative purposes only; your experience may be different. 

What Our Members Say

I’ve used LendingClub four times. Great customer service, great rates, unbeatable payback options and above all a company that I trust.

—Dana, a member from Florida 

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Frequently Asked Questions

You can use a personal loan for almost any purpose, with a few exceptions. LendingClub Bank members often use personal loans to pay off credit cards at a lower rate, consolidate debt, or take care of unexpected costs.

A few ways a personal loan from LendingClub Bank cannot be used include anything related to education after high school, making investments (such as securities or cryptocurrency), or funding any illegal activity.

Choose your offer

You’ll be able to select the loan amount, interest rate, APR, monthly payment, and loan term.

Confirm your information

We ask for your Social Security number and details on 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

Once your loan is approved, we’ll send the money straight to your bank account, and/or pay your creditors directly 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 theinterest 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 support@lendingclub.com. 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 payments@lendingclub.com, 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.

  1. 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.

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.

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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