Based on responses from 14,827 borrowers in a survey of 76,365 randomly selected borrowers conducted from 1/1/16 - 10/1/16.
Borrowers who received a loan to consolidate existing debt or pay off their credit card balance reported that the interest rate on outstanding debt or credit cards was 21% and average interest rate on loans via Lending Club is 14.6%.
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Want to consolidate your debts and reduce monthly payments?
Borrowers who used a personal loan via Lending Club for debt consolidation or to pay off high interest credit cards report in a survey that the interest rate on their loan was an average of 30% lower than they were paying on their outstanding debt or credit cards.
To calculate how much you could save, use our personal loan calculator.
With fixed, low rates and monthly payments, the amount you pay will never increase, giving you a clear path to achieve your financial goals.
Our online loan application takes minutes, with no impact to your credit score.
The origination fee ranges from 1% to 6% and the average origination fee is 5.47% based on origination volumes from 7/1/2016 to 9/30/16.
Best APR is available to borrowers with excellent credit.
You can pay off your loan at any time and get rid of future interest payments. A debt consolidation loan can improve your credit score.
75% of Lending Club customers experienced a FICO score increase three months after obtaining their loan, with an average score increase of 20 points.
Want to eliminate your debt and slash your monthly payments?
With an unsecured personal loan via Lending Club you can pay off your high interest debt and consolidate it into a single monthly payment.