Loans

How to apply for the LendingClub personal loan?

Do you need a lender that does not make hard credit inquiries and can help you pay down your debt? The LendingClub loan can be for you. Read more to know how to apply!

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by Victória Lourenço

10/04/2021 | Updated on 10/25/2021

Applying for LendingClub personal loan

Find out how to apply for a loan at LendingClub! Source: LendingClub
Find out how to apply for a loan at LendingClub! Source: LendingClub

The LendingClub loan can be helpful for people who need to make loans to improve their finances and pay for emergencies. This lender even offers the option to make joint loans, and you can change your payment date. Also, you do not have to worry about having a hard impact on your credit score when applying. That is because this lender only makes a soft credit inquiry.

In addition, you can get help from this lender’s Member Center to better manage and control your finances. So, if you want to know more about the application process to get a loan, keep reading our post!

card

Loan

LendingClub

online

Change your payment date Credit inquiry does not have a hard impact on your score

You will be redirected to another website

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Apply online

See how to apply online for a loan with this lender! Source: Gettyimages
See how to apply online for a loan with this lender! Source: Gettyimages

The online application process to get a loan with this lender can be simple, and you can do it all online. But first, we recommend that you check your rate. You can do that by filling out the application form on LendingClub’s website. Then, you can choose the best loan for you and its payment date.

After that, you can confirm your personal information and submit your loan application. Once you get a response and sign your loan terms, you can get your loan fund in just a few days.

Apply using the app

Check out if you can apply for a loan with the mobile app. Source: Gettyimages
Check out if you can apply for a loan with the mobile app. Source: Gettyimages

You can use LendingClub’s mobile app to manage and control your account and the loans made. However, you can only apply for a personal loan and create your account through their website. So, if you qualify to apply for a loan with this lender, you can follow the steps mentioned on the topic above and apply!

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LendingClub vs. OneMain Financial personal loan

If you are still unsure about applying for a personal loan with this lender, we can help you continue your research. We have prepared a comparison with a similar lender to help you decide which loan option can be the best for you. So, here is a comparison between LendingClub and OneMain Financial.

LendingClubOneMain Financial
APRThe APR varies from 7.04% – 35.89%.It ranges from 18.00 to 35.99%.
LOAN PURPOSEThis personal loan can be used to pay off debt or for any other emergency.Home upgrades, weddings, debt consolidation, and other unforeseen costs.
LOAN AMOUNTSThis lender offers loans ranging from $1,000 to $4,000.The loan amounts you can get with this lender ranges from $1,500 to $20,000.
CREDIT NEEDEDA minimum credit score of 600 points is recommended.There is no requirement for a minimum credit score.
TERMSThe terms are three to five years long.You can choose to pay back the loan in 24, 36, 48, or 60 months.
ORIGINATION FEEThe origination fee ranges from 1% to 6%.The origination fee ranges from $425 to $500, depending on the state.

In other states, this fee might be anywhere from 1% to 10% of the amount borrowed.
LATE FEEThe late payment cost can be as much as $15 or 5% of the unpaid amount, whichever is higher.Late fees can range from $10 to $30, or 15% of the total amount owed, depending on the case.
EARLY PAYOFF PENALTYWith this lender, there are no penalties for paying off your loan early.There are no penalties for paying it off early with this lender.

How to apply for OneMain Financial personal loan?

Are you looking for a lender that approves people with low credit? The OneMain Financial loan can be for you. Read more to know how to apply!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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