Based in California, LendingClub is one of the biggest peer-to-peer lending platforms for loans. Getting a personal loan from LendingClub has many advantages, some of which have been discussed below:
Borrow high amounts with great annual percentage rates (APR)
LendingClub personal loans provide a funding of up to $40,000. You may borrow up to this amount for any purpose that you want. Depending upon your eligibility such as credit score, debts, salary, age, etc., your APR will be decided. The rates vary between 6.16% and 35.89%. You may check the best rates for yourself on their online portal, without letting it affect your credit score.
Make monthly payments
Just like an equated monthly installment (EMI), you may pay off your loan in the form of fixed monthly payments. By knowing a fixed duration of paying off your loan and the fixed amount going out from your account every month, repaying a personal loan from LendingClub becomes simple. It also helps you plan ahead and be financially disciplined.
Get your money sooner than most loan providers through an easy process
The process of getting a LendingClub person loan is incredibly simple and quick. You can apply online within a matter of minutes, see the available APR options, and select an offer that suits you the best. The approval process will be quite fast and you will get your funding within days. The money is directly credited to your bank account. Since it is a peer-to-peer lending platform, it is not as time-consuming as other major lenders.
Get loans for various purposes
There are various purposes for which you can avail a personal loan from LendingClub. You can get a loan for refinancing your credit card debt, debt consolidation, any major purchase, home improvement, relocation, moving, green loan, or any other personal financing purpose. You can even borrow a loan for a vacation, a business, or for financing your car. Just choose the requirement and get a loan from LendingClub.
If all your documents are in place and you have been able to maintain a decent credit score, then you are sure to get a great deal for procuring a LendingClub personal loan. Their interest rates are quite competitive, their turnaround time is par excellence, and their loans will help you deal with your immediate financial needs.