LendingClub is a full-spectrum fintech marketplace bank that helps their clients pay less when borrowing and more when saving. Since 2007, they’ve helped more than 4 million members reach their financial goals through a range of technology-driven financial products. LendingClub believes that everyone deserves a better financial future, which is why they’ve built a marketplace that keeps costs low and opportunity high for their customers.

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Program Variety

LendingClub offers a range of loans to their clients, including auto refinance loans, personal loans, business loans and medical patient solutions.

Once known for their peer-to-peer lending service, LendingClub has updated its offerings to include digital banking services like high-yield savings accounts, CDs and rewards checking.

Services Available

LendingClub’s services include the following:

  • Personal loans
  • Business loans
  • Auto Refinancing
  • Health financing solutions
  • Checking accounts
  • Savings accounts
  • CDs

Program Costs

The APR on a LendingClub loan can range from 8.05% to 36%. LendingClub borrowers also pay an origination fee of 2% to 6%. There are no application fees, brokerage fees or fees for early payoffs, but borrowers who are late on payments may be charged late fees and other penalties.

Industry Reputation

LendingClub has helped more than 4 million clients reach their goals since 2007. They have been a BBB-accredited business since 2008, and they are an equal housing lender.

In 2021, LendingClub closed the acquisition of Radius Bank, which is now known as LendingClub Bank. It was voted as the best online bank by Bankrate in 2020 and the best online banking experience by Nerdwallet in 2021.


As of writing this review, LendingClub’s BBB profile shows that they’ve closed 1,112 complaints over the past three years. They have an average customer rating of 4.57 out of 5 stars. LendingClub’s Trustpilot profile lists an excellent customer rating of 4.7 out of 5 from over 4,500 reviews.

In 2018, the FTC filed a complaint against LendingClub corporation alleging that they falsely advertised that their loans came with no hidden fees. LendingClub agreed to settle the charges without admission of wrongdoing in 2020.

State Coverage

LendingClub accepts loan applications from residents of all 50 states. Their loans aren’t currently available to those who live in U.S. territories.


  • Loans range from $1,000 to $40,000
  • Funds available within two days
  • Accessible to most borrowers
  • Offers joint loan applications
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