30-yr fixed 6.43% ▾ 0.06 wk
15-yr fixed 5.79% ▾ 0.04 wk
HELOC avg 7.90% — no change
Auto 60-mo new 6.82% ▴ +0.03 mo
Personal 24-mo 11.57% ▾ 0.12 qtr
Credit card APR 21.52% ▴ +0.09 qtr
as of Jul 2, 2026 · Federal Reserve / Freddie Mac via FRED (St. Louis Fed)
Marketplace · Independent review

LendingClub: an honest look at the rates and the fine print

LendingClub is a long-running marketplace lender that accepts joint applications and pays creditors directly for consolidation. It reaches fair-credit borrowers banks decline, but origination fees of up to 8% and high top-end APRs mean the total cost can climb quickly — always compare on APR, not rate.

By Daniel Reeves · Reviewed by M. Okafor, CFP Updated July 2, 2026

LendingClub

Personal loans · Marketplace · NMLS #167439 · Founded 2007

3.7/5
  • Personal loan APR8.98–35.99%
  • Loan amounts$1,000–$40,000
  • Terms24–60 months
  • Origination fee3–8%
  • Min credit score600 (est.)
  • FeatureJoint applications

Independent profile. Loans Advisor is not affiliated with, or compensated by, this lender.

Where LendingClub fits

Strengths

  • Accepts co-borrowers
  • Direct creditor payoff for consolidation
  • Reaches fair credit

Watch-outs

  • Origination fee up to 8%
  • Max $40,000
  • High APR ceiling

Best for

Based on its rates and products, LendingClub is most relevant if you're looking at:

Figures are researched from public rate sheets and regulatory filings and change often — verify current terms with LendingClub before applying. Loans Advisor is not affiliated with, or paid by, LendingClub, and earns no referral fee from this profile.