If you choose to make automatic payments, your loan payments are electronically deducted from your bank account each month. We'll email you a reminder a few days beforehand so you can make sure money is there.  

You can also pay by check if you prefer. Handling the mail costs more, so we charge a $7.00 processing fee for each check payment. 

Your first payment

Your first payment is due 30 days after your loan is issued, even if your bank takes a few extra days to deliver the funds to your account.
 

Setting up your payment method when you apply for a loan

When you link your bank account, you can set up automatic payments from your bank account. If you prefer to pay by check, click Change This and select check payments instead.  

Switching payment methods after your loan is issued

If you are currently paying by check, but would like to switch to automatic payments: 

1. Sign in to your Account Summary. 
2. Click Make Automatic Payments. 
3. On the Payment Options screen, select Make Free Automatic Payments Electronically. 
   
4. Click Yes, I want Automatic Monthly Payments.  

If you are currently signed up for automatic payments, but would like to switch to check payments, email our Payment Processing team at paymentprocessing@lendingclub.com or call us at 1-844-227-5011.  

Making additional payments

You can also make additional loan payments, or pay off your loan early. We don’t charge any prepayment penalties or check fees for additional payments or loan payoffs.