There are several options for making loan payments. Remember, your first payment is due one month after your loan is issued and the funds are sent to your account, even if your bank takes a few extra days to make the funds available. You can use automatic payments, pay by check, or by phone.
Sections in this article cover:
- Setting up your payment method when you apply for a loan
- Pay automatically
- Pay by check
- Pay by phone
- Making extra payments
Setting up your payment method
When you apply for a loan, you’ll be asked to link your bank account. Once you have linked and verified your bank account, you’ll be able to set up autopay. If you prefer to pay by check, click Change This and select check payments instead. You can also make one-time payments by giving us a call.
If you choose to make automatic payments, they’ll be debited from your bank account each month. You must have a verified bank account linked to your LendingClub account before signing up for auto pay. Once you’re signed up, you’ll get an email reminder a few days before your payment processes so you’ll always know when to expect it.
Pay by check
If you prefer to pay by check, just let us know. Once you’re set up to pay by check, you can send payments either by postal or courier mail.
- Just make your checks payable to LendingClub Corporation. Also, make sure to write your name and full loan number on your check. For example:
- Mail your check to one of these addresses:
Postal mail Courier mail LendingClub Corporation Wells Fargo Lockbox Services Dept. 34268 Attn: LendingClub Corporation P.O. Box 39000 Dept. 34268 San Francisco, CA 94139 3440 Walnut Ave. Building A,Window H Fremont, CA 94538
If your check arrives by 11:30 am Pacific Time, it will be processed the same day, checks received after that time will be processed the next business day.
Pay by phone
If you'd prefer not to use automatic payments:
- Click Change This when setting up your payment method.
- Confirm your selection.
When you’re ready to make your monthly payment, call us at 844-227-5011. Be sure to have your bank account information ready when you call each month. Keep in mind, if you call to make a payment before 2 pm Pacific Time the payment will be processed the next business day. If you call after 2 pm Pacific Time, your payment will take two business days to process. For example:
- If you call on Monday at 10 am Pacific Time to make a payment, it’ll be processed on Tuesday.
- If you call on Monday at 3 pm Pacific Time to make a payment, it’ll be processed on Wednesday.
Making extra payments
All additional payments you make go directly to your loan’s principal. That means every extra payment you make reduces the total amount of interest you’ll pay over the life of your loan. Early payments, unless otherwise specified, will be treated as additional payments and be applied directly to your loan’s principal. Keep in mind that early or extra payments do not take the place of your regular monthly payment.
One-time online monthly payments are currently not offered, but you will be notified once that option is available.