About Lending Club
Lending Club is a digital financial services provider and online bank offering unsecured personal loans, credit card refinancing, debt consolidation, and personal banking products. Prospective borrowers can review personalized rate options through an online application process that utilizes a soft credit inquiry, leaving credit scores unaffected. Lending Club personal loans feature fixed interest rates with no prepayment penalties, allowing borrowers to pay off balances ahead of schedule without added fees. In addition to personal loans, Lending Club offers deposit accounts such as high-yield savings, checking, and certificates of deposit through its digital banking portal.
Frequently Asked Questions
Does Lending Club offer promo codes or discount coupons?
As a financial services provider, Lending Club does not issue traditional promo codes or retail discount coupons. Applicants can check personalized loan rates directly through Lending Club without impacting their credit scores.
Will checking my loan rate with Lending Club affect my credit score?
Checking your loan options with Lending Club involves a soft credit inquiry, which does not affect your credit score. A hard credit inquiry is only conducted if you select a loan offer and complete the formal application.
Does Lending Club charge prepayment penalties on personal loans?
No, Lending Club does not charge prepayment penalties on its personal loans. Borrowers are free to make partial extra payments or pay off their remaining loan balance early at any time without penalty.
What fees are charged on a Lending Club personal loan?
Lending Club does not charge an application fee. Personal loans may include a one-time origination fee that is deducted directly from the loan proceeds prior to disbursement, and a 15-day grace period is offered before late payment fees apply.
