You can make extra payments on your loan any time right from your Account Summary. We apply these one-time payments directly to your principal balance. This decreases the total cost of your loan by reducing your principal balance and the total interest you pay on that amount.
You can also fully prepay your loan at any time. If you choose to pay off your loan early, you won’t owe any additional interest and your monthly payments will end. See Paying off your loan for instructions.
Sections in this article cover:
- Sign in to your Account Summary.
- Click Manage Payments in the Payment Information section.
- Click Make an Extra Payment.
- Enter the amount you want to pay, and then click Review Extra Payment.
You’ll notice that the page displays the earliest date when we can process your payment.
- Review the details of your payment, and then click Confirm Extra Payment.
The review page shows the payment amount, date, bank name, and the last three digits of your bank account. It also shows the next few payments for your loan so you know what’s coming up.
Pay by check
If you want to make an extra payment 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, along with the word "AP" so we know to apply the funds as an extra payment. For example:
AP #123456789 Jane Well
Mail your check to one of these addresses:
P.O. Box 39000
San Francisco, CA 94139
WFB - Lockbox Services
Attn: LendingClub Corporation
3440 Walnut Avenue
Building A, 2nd Floor
Fremont, CA 94538
Note: Make extra payments in a separate check from your monthly payments. If you make your monthly payment plus an extra amount in the same check, the entire amount is processed as an extra payment that is applied to your principal balance, and your monthly payment is still due.
For example, if your monthly payment is $200 and you mail in a $300 check, the full $300 is applied as an extra payment. You would still owe your $200 monthly payment. If you just wanted to pay an extra $100 on your loan, you would write one check for your $200 monthly amount and a separate $100 check that would be applied as an extra payment.
Any payment that does not match your monthly payment amount is processed as an extra payment, and your monthly payment is still due.
Pay by phone
If you'd like to make an extra payment electronically and aren't enrolled in automatic payments, you can call us at 888-227-5011. Please have your bank account information ready when you call.