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 may charge a $7.00 processing fee for each check payment.
Sections in this article cover:
- Your first payment
- Setting up your payment method when you apply for a loan
- Switching payment methods after your loan is issued
- Making a payment by check
- Making additional payments
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:
- Sign in to your Account Summary.
- Click Make Automatic Payments.
- On the Payment Options screen, select Make Free Automatic Payments Electronically.
- 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 payments@lendingclub.com or call us at 844-227-5011.
Making a payment by check
If you prefer to pay by check, you can send us your check payment either by postal or courier mail.
- Make your check payable to LendingClub Corporation and write your name (if it's not on your check) and loan number on your check. For example:
#123456789 Jane Well
- Mail your check to one of these addresses:
Postal mail:
LendingClub Corporation
Dept. 34268
P.O. Box 39000
San Francisco, CA 94139
Courier mail:
WFB - Lockbox Services
Attn: LendingClub Corporation
Dept. 34268
3440 Walnut Avenue
Building A, 2nd Floor
Fremont, CA 94538
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.
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