Personal Loans

Get Up To $40,000 and Competitive Fixed Rates

How to Apply for a Personal Loan

  • Image of phone viewing lendingclub.com personal loans web page
  • Image of phone viewing the personal loan amount options during application
  • Phone with notification from LendingClub about personal loan

How to Apply for a Personal Loan

Check Your Rate

Why Choose a Personal Loan?

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 rates 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 you improve your credit score, by diversifying your credit mix, showing that you can make on-time monthly payments, and reduce your total debt.

Join Over 4 Million Members Nationwide

  • Borrow up to $40,000

  • Receive money fast, upon approval

  • Competitive fixed rates and fixed monthly payments

  • No prepayment fees

  • Automatic payment withdrawals

Personal Loans to Match Your Financial Goals

Credit Card Consolidation Loans
Refinance your credit cards with a personal loan—and know the exact date your loan will be paid off.
Read More
Balance Transfer Loans
Lock in a lower APR and save time by paying creditors directly through LendingClub—just tell us who to pay and how much.
Read More
Debt Consolidation Loans
Simplify your debt—and your life—with a single monthly payment on an affordable, fixed-rate loan.
Read More
Home Improvement Loans
Start your home improvement project now, without waiting for a home equity loan or line of credit.
Read More

LendingClub Bank Personal Loans Comparison

Credit Cards
$1,000 - $40,000
$2,000 - $35,000
$2,000 – $40,000
APR range
8.98% – 35.99%
9.95% – 35.99%
7.95% – 35.99%
Varies, up to 36%+
2 to 5 years
2 to 5 years
3 or 5 years
Pays multiple creditors directly
Joint loans available

Information specific to LendingClub Bank is valid as of March 8, 2024. Information specific to other entities sourced from their public-facing websites as of January 6, 2023.

What Our Members Say

I shopped around for a debt consolidation loan and this was by far the easiest application process, disbursement of funds and best interest rate. Now, I’ll be debt free in just three years, saving thousands!2

—Kyle, a member from Georgia

Read More Reviews
What Our Members Say
Frequently Asked Questions

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 usually is not required.

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.

To qualify for a personal loan from LendingClub Bank you must be a U.S. citizen or resident and at least 18 years of age with a verifiable bank account. (We accept applications from all U.S. states and Washington, D.C. We do not accept applications from the U.S. territories)

Your loan application will be evaluated based on several factors, including the information provided by you and the credit bureaus, your credit score, and your ability to repay. For the lowest rates, it helps if you have a higher than average credit score, a low debt-to-income ratio, and a good credit history. Often, applying with another person can help you qualify for a better rate and/or larger loan amount.

Learn how adding a coborrower can help you get approved for a personal loan.

You can apply and complete the entire process online in minutes from the comfort of your home using your phone, laptop, or tablet. Loan approval, and the time it takes to issue a credit decision, are not guaranteed and individual results vary based on creditworthiness and other factors.

If your loan is funded, your money will be sent directly to your creditors and/or deposited into your bank account.

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.

Checking your rate from LendingClub Bank has no impact to your credit score because a soft credit pull is used. A hard credit inquiry, which is visible to you and to others, and which may affect a person’s credit score, only appears on the person’s credit report if and when a loan is issued.

The good news is that a personal loan could positively impact your credit down the road if you’re able to show a history of on-time payments and a reduction in overall debt (that means no new debt, such as higher credit card balances).

Learn more about your credit score and how to protect your credit health.

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.

  1. 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. 

  2. 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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