Posted by Lending Club :: May 11, 2010 @ 2:30 am
As of this morning, Lending Club now offers 5-year personal loans to our growing financial network of investors and borrowers, in addition to our existing 3-year personal loans.
Borrowers can enjoy the benefits of a lower monthly payment, making budgeting and loan repayment easier.
Investors can now earn more interest by choosing 5-year Notes and receive 0.74% extra yield on B graded Notes and 1.86% extra yield on C through G graded Notes*, as compared to 3-year Notes. Investors also benefit from a lower annual impact of the service charge on their return: 0.45% on a 5-year Note vs. 0.71% on a 3-year Note on average.
We are thrilled to expand on our product offering that enables our borrowers to get great rates while investors earn better returns.
Get started right away. Browse Notes >
Happy borrowing and investing,
Notes offered by prospectus filed with the SEC.
* There is no extra yield on A Notes.
Print This Post
9 Comments
Wow these are great loans and rates!!!
very happy about this.. I hope lending club can set up a system to
extend current borrowers to 5 years.
[...] lending service Lending Club did up to now only offer 3 year
loans. Today Lending Club adds 5 year [...]
Perfect for auto loans.
[...] to friend 14May Lending Club now offers 5-year personal
loans, in addition to existing 3-year personal [...]
These are great for auto loans.
Good you're adding more loans. Everyone should have access to the
money they need, specially when they are trying to get money for a
business......
[...] my last update, Lending Club introduced 5 year notes.
So far, I’m not impressed with them, and do not see the advantage
as a investor. The [...]
Lending Club is great, this 5 year loan is just what I have been
looking for!