There are three types of payment plans offered through LendingClub Patient Solutions—Fixed Rate Plans, Promotional No-Interest Plans (Waived Interest, Payment Required), and Promotional Rate Plans (Low APR, Equal Payment Required) .
Credit accounts with Promotional No-Interest Plans (Waived Interest, Payment Required) are interest-free for a promotional period of 6, 12, 18 or 24 months. After the promotional period, a 26.99% standard APR will assess on any remaining balance.
For patients who prefer budget-friendly payment options repaid over longer terms, Fixed Rate Plans and credit accounts with Promotional Rate Plans (Low APR, Equal Payment Required) are offered. Fixed Rate Plans APRs range from 4.99% to 24.99% for amounts up to $50,000 with payment terms up to 84 months. The APR is based on the amount financed, term selected, and applicant's credit history. The interest rate stays consistent for the life of the loan with no sudden spikes and no hidden fees. Promotional Rate Plans also offer longer repayment terms but with a promotional rate of 17.90% APR during the promotional period. After the promotional period ends, a 26.99% standard APR applies.
Depending on your medical specialty, your practice may offer all or just some of these financing options. We can help you choose the best option when you give us a call at 800-630-1663.
1 Rates range from 4.99% to 24.99% APR. Terms available based on amount financed and credit history. All Fixed Rate Plan Loans made by NBT Bank, N.A., member FDIC. Please visit lendingclub.com/dental for current rate information.