Bank-backed personal loans up to $40,000 for fair-to-good credit borrowers.
Get started at LendingClub Bank → Pre-qualify (where available) with a soft credit pull — no score impact.
ClearValue Rating: 4.1 / 5 — our editorial assessment (how we rate)
Editorial confidence (30%), cost (25%), value (25%), accessibility (20%) — scored consistently across every product, independent of compensation.
Borrowers at the higher end of the fair-credit range (620–660 FICO) who want a bank-backed lender and higher loan amounts.
LendingClub — Bank-backed personal loans up to $40,000 for fair-to-good credit borrowers. Best for: Borrowers at the higher end of the fair-credit range (620–660 FICO) who want a bank-backed lender and higher loan amounts.. Compare it against alternatives before applying; the right fit depends on your situation, credit, and goals.
LendingClub is a solid choice for debt consolidation if your FICO is in the 600–660 range and you need to consolidate $10,000–$40,000. LendingClub Bank issues personal loans of up to $40,000 — one of the higher ceilings among fair-credit lenders — and supports joint applications, which can improve approval odds or lower your rate if a co-borrower has stronger credit. The origination fee (2–8% of loan amount) adds to the total cost, so compare the all-in APR (not just the interest rate) to the blended rate on your current credit card debt. Consolidation only makes financial sense when the LendingClub APR is meaningfully lower than your existing balances. Pre-qualify at lendingclub.com — the soft-pull check does not affect your credit score and shows your actual rate before you commit.
Yes. LendingClub Bank, N.A. is an FDIC-insured national bank regulated by the Office of the Comptroller of the Currency (OCC). LendingClub acquired Radius Bank in 2021 and became a bank holding company — transitioning from a peer-to-peer marketplace to a direct bank lender. Personal loans are now issued directly by LendingClub Bank. The company is publicly traded (NYSE: LC) and subject to full federal banking supervision. LendingClub is subject to the Truth in Lending Act (TILA/Regulation Z), which requires clear APR disclosure, and the Equal Credit Opportunity Act (ECOA). To verify independently: the CFPB's consumer complaint database at consumerfinance.gov includes LendingClub entries and responses, and LendingClub Bank's FDIC charter is searchable at fdic.gov.
LendingClub charges an origination fee of 2–8% of the loan amount, deducted from the proceeds at funding. A $20,000 loan with a 5% origination fee means you receive $19,000 but repay the $20,000 principal plus interest. The origination fee is factored into the disclosed APR under TILA/Regulation Z — compare APRs (not interest rates) when shopping multiple lenders. No-origination-fee lenders (SoFi, LightStream, Discover) exist in the prime-credit tier (680+ FICO); at 600–660 FICO, origination fees are typical and LendingClub's 2–8% range is in line with Upgrade and Avant. Verify the current fee range at lendingclub.com before applying.
How we rate
Every pick gets a 1–5 ClearValue Rating computed from four weighted factors: Editorial confidence (30%), Cost (25%), Value (25%), and Accessibility (20%).
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