LendingClub personal loans: 2025 review

LendingClub is best for emergency loans

LendingClub is Bankrate’s best emergency loan for 2025. Not only can eligible borrowers get funds as soon as the next business day, but terms last as long as 84 months — far longer than the weeks-long repayment terms of emergency options like payday loans.

Another advantage LendingClub offers is the flexibility in when you pay. If you fall behind, there is a 15-day grace period before you're charged a late fee. You can also make a one-time change to your due date so it better suits your payment schedule. These benefits might make all the difference when you have to take out an unexpected emergency loan.

LendingClub personal loan purposes

LendingClub’s personal loans feature a range of repayment terms, amounts of up to $60,000, a co-borrowing option and direct payment to creditors. This combination makes its loans ideal for many purposes, including debt consolidation, financing a midsize home improvement project or making a large purchase. Like many lenders, LendingClub doesn't allow its loans to be used to cover post-secondary education-related expenses, investing, buying cryptocurrency or for illegal activities.

LendingClub customer resources

Customer support

You can reach customer support over the phone at 888-596-3157. Representatives are available from 5 a.m to 5 p.m. PT, Monday through Friday, and from 8 a.m. to 5 p.m. PT on Saturday. 

Digital experience

LendingClub’s application can be completed online from start to finish, and you can apply for prequalification to can check eligibility without affecting your credit. Your account can be managed online or through the LendingClub's mobile app, which is available for both iOS and Android devices. 

How this lender compares

LendingClub vs. Prosper

Just like LendingClub,Prosper accepts joint loan applications and requires a minimum credit score of 600. Prosper offers loans up to $50,000, while LendingClub has a slightly higher maximum amount of $60,000. However, Prosper’s maximum repayment term is just 60 months, making LendingClub a better fit if you want more flexibility and lower monthly loan payments. 

LendingClub vs. Avant

Avant offers similar APRs to LendingClub and similar repayment terms. However, Avant’s loans are limited to $35,000, which is a lower limit than LendingClub’s. 

That said, Avant has an even lower credit score requirement, offering loans to qualified applicants with a score of 550 and above. Avant also offers a wider range of repayment terms, ranging from 24 to 60 months. You may also be able to get your funds in one business day with Avant.

Do you qualify for a LendingClub personal loan?

Like other lenders, LendingClub requires borrowers to be at least 18 years old, reside in one of the 50 states or Washington, D.C. and be U.S. citizens or permanent residents to qualify. Additionally, borrowers must:

• Have a credit score of at least 600.
• Have a verifiable bank account.

How Bankrate rates LendingClub