LendingClub Personal Loan review

Discover how the LendingClub Personal Loan can help you consolidate debt, make a large purchase or finance your dream project. Read our comprehensive review to find out if it's right for you.


LendingClub Personal Loan: Take the stress out of debt and unlock the power of a lower rate loan!

Lending Club Personal Loan
Learn everything about Lending Club Personal Loans. Source: The Post New.

If you’re thinking of taking out a loan and need some extra cash, then you may want to consider the LendingClub Personal Loan.

With fast approvals and competitive rates it’s becoming one of the most popular personal loans available.

Lending Club Personal Loan

How to apply for LendingClub Personal Loan

Get the funds you need and have the flexibility to use them for anything. Learn how to apply for a LendingClub personal loan today!

  • APR: A variable based on creditworthiness between 8.05% and 36.00%.
  • Loan Purpose: Any purpose you may have, except for investment, education post-high school, or illegal activities. 
  • Loan Amount: You can request any amount between $1,000 to $40,000.
  • Credit Needed: You need a score of at least 600 to become eligible for a loan with LendingClub. 
  • Terms: You can repay your loan in flexible terms, between 3 and 5 years.
  • Origination fee: There’s an origination fee up to 6% attached to LendingClub. 
  • Late Fee: Either 5% of payment of $15 once the grace period ends. 
  • Early Payoff Penalty: There are no prepayment fees attached to LendingClub. 

This reputable online lending company has made quite the name for itself in the past few years, with over 4 million satisfied customers and $80+ billion borrowed. 

But what makes them unique among other lenders? Let’s take an in-depth look at the LendingClub Personal Loan in our review so you can decide if it’s right for your borrowing needs.

Lending Club Personal Loan: how does it work?

LendingClub is like a matchmaker for people who want to borrow money for various reasons.

It’s all online, so you just need to fill out an application on their website, and they’ll let you know if you qualify for a loan and how much you can borrow.

One interesting fact about LendingClub is that you can get a loan even if your credit isn’t perfect.

They have different grades of loans depending on how risky they think you are, and the interest rate you get will depend on your grade.

If you have good credit, you’ll get a lower interest rate, but even if you have bad credit, you can still get a loan. In that case, you can secure lower rates by applying for a joint loan. 

Once you get approved for a loan, LendingClub might deposit the funds into your account within two business days.

You’ll make fixed monthly payments to LendingClub, and you can even change your due date if you need to. 

Significant benefits and disadvantages you may find

Lending Club Personal Loan
Is it worth it to apply for this personal loan? Source: Lending Club.

There are definitely pros and cons to taking out such a loan, but it’s worth exploring whether or not LendingClub is the right fit for your borrowing needs.

Let’s take a closer look at the advantages and potential drawbacks next. 


  • You can apply and get a loan with LendingClub even with a subprime score;
  • Borrow up to $40,000 for whatever purpose you have or goals to achieve;
  • You can apply for a joint loan and get even better rates;
  • LendingClub allows you to pre-qualify and check your rates online with a soft pull.


  • Unlike many online lenders, LendingClub still charges origination and late fees;
  • You won’t be able to manage your account on-the-go because there’s no mobile app.

Is a good credit score required for applicants?

Having a good credit score is important when applying for a LendingClub Personal Loan, but it’s not a requirement.

The recommendation is a minimum credit score of 600, although higher credit scores will likely result in better loan terms.

If you have a lower credit score, you may still be able to qualify for a LendingClub loan, but you may face higher interest rates.

Learn how to apply for a LendingClub Personal Loan

Now that you know how a personal loan with LendingClub works, how about applying for yours?

You can do it online in only a few minutes, and the pre-qualification process won’t harm your credit score. Check the following link for a complete walkthrough.

Lending Club Personal Loan

How to apply for LendingClub Personal Loan

Get the funds you need and have the flexibility to use them for anything. Learn how to apply for a LendingClub personal loan today!

About the author

Aline Barbosa

Aline Barbosa is an editor, writer and learning-enthusiast. Passionate about music, books and human behavior. Curious about the unknown. Believer that learning is a life-long process.

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