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You won’t see a LendingClub location while driving to the grocery or dropping the kids off at school. As the first public US neobank and a full-spectrum financial technology (fintech) marketplace bank, LendingClub is fully online.
LendingClub’s acquisition of Radius Bank in 2020 launched the organization into the world of personal banking, with high-yield savings accounts and checking accounts, CDs and more. But since 2007, more than 3 million members have relied on LendingClub for investments and loans. Since Then, LendingClub has grown into one of the largest online lenders for personal loans.
LendingClub Personal Loans
Best for Small Loans
Key Features
- Low minimum credit score requirement
- Small loan amounts available
- ability to add a co-borrower
You won’t find the lowest rates or most flexible loan terms with LendingClub, and if you have a $100,000 project to fund, you should look elsewhere. LendingClub is designed for those with bad credit (or who are on the path to good credit) . With a low minimum credit requirement and small loan amounts, LendingClub personal loans give borrowers a low-risk shot at improving their credit score.
LendingClub Personal Loans
APY
7.04% to 35.89%
Loan terms
3 or 5 years
Loan amounts
$1,000 to $40,000
Origination fees
3% to 6%
Prepayment penalty
n/a
Minimum credit score requirement
600
LendingClub Loans: At a Glance
As mentioned above, you can now use LendingClub as a complete finance solution — open a checking account, tie it to a savings account and even start an investment account. Let’s drill down to the loan portion of LendingClub’s business specifically. With LendingClub, you can apply for:
- Personal loans up to $40,000
- Business loans up to $500,000
- Auto loan refinancing
- Financing for patient care (health and dental)
In…
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