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LendingClub 2026 Personal Loan Review
A LendingClub personal loan is a standout option for qualified borrowers who want to pay off debt with flexible terms.
Written by , Edited by
Written by and
Last updated September 8, 2025
Last updated September 8, 2025
5.0
Est. APR
5.96 - 35.99%
Min. credit score
600
Time to fund
1 - 2 days
Loan amount
$1K - $60K
Loan term
2 to 7 years
Origination fee
0% to 8%
Overview
LendingClub personal loans are a great option for fair- to excellent-credit borrowers looking to consolidate debt or finance large purchases.
This lender is an especially good choice for debt consolidation because it offers a rate discount and direct payment to creditors on debt consolidation loans.
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What the nerds think
"LendingClub has all the makings of a five-star lender, especially if you want to use its balance transfer loan to consolidate debt. Its lightning-fast approval and funding timeline, its direct payment to creditors and the possibility of an additional rate discount all make it a smart option for borrowers who are ready to get their debt under control."
Jackie VelingLead Writer
What LendingClub is best for
Detailed breakdown
Affordability(25%)4/5
We review lenders' annual percentage rate offerings and the competitiveness of each lenders' APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.Customer Experience(20%)5/5
We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.Underwriting and Eligibility(20%)4.5/5
We consider the rigorousness of each lender's underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.Loan Flexibility(20%)5/5
We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.Application Process(15%)4.5/5
We consider the lender's full application process, including a borrower's ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.Overall Rating5/5
Read more about our ratings methodologies for personal loans.
Where LendingClub stands out
- Option to pre-qualify: You can pre-qualify on LendingClub’s website to check your potential rate, loan amount, repayment term, monthly payment and total interest costs. Applicants may be shown multiple offers. Pre-qualification generates a soft credit pull, which won't hurt your credit score. Once you apply, LendingClub does a hard credit pull, which is typical among lenders and temporarily knocks a few points off your score.
- Direct payment to creditors: LendingClub’s balance transfer loan helps borrowers pay off debt by sending the loan proceeds to up to 12 creditors, simplifying the consolidation process. This type of loan may come with an additional rate discount, though LendingClub doesn’t disclose how much.
- Fast approval and funding: Applications are typically approved within one hour, and the majority of borrowers can expect the money in their account in one to two business days. This means you could submit an application and receive funds within 24 hours.
- Joint loan option: LendingClub allows joint loan applications. Applying for a personal loan with a co-borrower who has strong credit may boost your chances of qualifying and getting a lower rate or larger loan. It may be especially helpful if you’re consolidating high-interest credit card debt, since you’ll want to prioritize getting the lowest rate possible.
- Option to choose and change payment date: Borrowers can choose their repayment date before signing a loan agreement and change the date during repayment. Payment date flexibility can be helpful if you change jobs, for example, and get paid on a different date.
Where LendingClub falls short
- Origination fees: LendingClub may charge an origination fee up to 8%. This fee is deducted from the loan before a borrower receives funds, reducing the total loan amount. If you’re consolidating debt, you’ll need to borrow a higher amount than what you owe to pay off all your debts. Origination fees are common among online lenders.
How to qualify
LendingClub’s minimum borrower requirements are typical for a fair- or good-credit lender, but borrower averages are slightly higher. A high credit score and strong income will give you the best chance of qualifying. Loans are available in all 50 states and Washington, D.C.
LendingClub’s borrowing requirements
- Minimum credit score: 600.
- Minimum annual income: None.
- Maximum debt-to-income ratio: 40%.
- Minimum credit history: Three years and two accounts.
- Must be a U.S. citizen, provide a Social Security number and provide proof of residency.
- Must have a valid U.S. bank account, government-issued photo ID and email address.
- Must provide proof of employment or income.
Ready to check rates? See what rate you can get by pre-qualifying.
✅ No impact to your credit score
Profile of an average LendingClub borrower
Credit Score
700+
Average APR
17%
Annual Income
$100,000
Loan Amount
$19,000 to $21,000
Loan Purpose
Debt consolidation
Debt-to-income Ratio
20%
Compare LendingClub to the best lenders
Personal loan lenders offer different rates, loan amounts and special features, so it pays to weigh other options. The best personal loan is usually the one with the lowest APR.
 |  |  |  |
|---|---|---|---|
EST. APR 5.96-35.99% | EST. APR 6.49-24.89% | EST. APR 7.74-35.49% | EST. APR 7.74-35.99% |
LOAN AMOUNT $1K-$60K | LOAN AMOUNT $5K-$100K | LOAN AMOUNT $5K-$100K | LOAN AMOUNT $1K-$50K |
MIN. CREDIT SCORE 600 | MIN. CREDIT SCORE 660 | MIN. CREDIT SCORE None | MIN. CREDIT SCORE 600 |
LendingClub personal loans borrower reviews
4.5out of 5
(89 reviews)
93%
Would recommend
this product
Rating Breakdown
5
(61)4
(13)3
(8)2
(1)1
(1)Sort by:
Rod H.
Verified NerdWallet CustomerMiddle of the road, I thought. I've only had experience with two different personal loans for two different companies, Wells Fargo and Lending Club. Lending Club, their fees were a little bit more than Wells Fargo, similar rates, so I would put Wells Fargo above Lending Club. As far as the ease of navigating their system and getting the money, I think Wells Fargo had my money to me before the lending club.
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Jacqueline C.
Verified NerdWallet CustomerWould you recommend this product? Yes
Satisfied.
Megan H.
Verified NerdWallet CustomerWould you recommend this product? Yes
It was really quick and really smooth, very transparent. No surprises or anything like that. So I would give it a read it really well.
Ron B.
Verified NerdWallet CustomerWould you recommend this product? Yes
It went great. It was easy.
AC T.
Verified NerdWallet CustomerWould you recommend this product? Yes
It was complicated.
Mauricio M.
Verified NerdWallet CustomerWould you recommend this product? Yes
I was very satisfied. It went pretty smoothly.
Ashton R.
Verified NerdWallet CustomerWould you recommend this product? Yes
It was very easy, very user friendly. So, very satisfied.
Antoinette H.
Verified NerdWallet CustomerIt went well and I'm satisfied.
Freddy S.
Verified NerdWallet CustomerWould you recommend this product? Yes
The process was fairly quick.
User reviews are displayed for informational purposes only and are not monitored for accuracy. These reviews do not reflect the opinions of NerdWallet or the financial institutions referenced and are not endorsed by them. Neither NerdWallet nor the financial institutions are responsible for the content of any review, nor are the financial institutions obligated to respond to or address any user posts.
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