Can you pay off a Lending Club loan early?

0 votes
asked Dec 2, 2018 in Other-Finance by Bureau765 (230 points)
Can you pay off a Lending Club loan early?

1 Answer

0 votes
answered Dec 2, 2018 by Gracy (149,380 points)
Yes you may pay off your lending club loan in full earlier than the loan term and there won't be any prepayment penalties or any other fees if you do prepay the loan.

Other loan companies may charge a loan payoff early fee however lending club doesn't charge any fees for early payoff of the loan.

Also any additional payments towards your lending club principal balance will allow you to repay your lending club loan early by reducing the total amount of interest you'll pay.

108,713 questions

117,666 answers

1,358 comments

7,058,495 users

...