Final Lending Club Bonus Amounts
My LendingClub bonus has turned out even better than I had hoped. The original deal was a five per-cent bonus based on the amount lent before February 3rd. I managed to get the minimum $5,000 invested in a portfolio, as well as an extra $375 from loans that had expired and I resubmitted. The bonus was based on how much you submitted, regardless of whether or not the loans got fully funded and approved or not. That means, the bonus was based off of my portfolios totaling $5,375 for a bonus amount of $268.75.
It has taken some time for all of the loans that I bid on to finally finish. As of today, all of them are finished and I’m waiting for 3 of them that are still pending final approval. When all is said and done, I will have $2950 in loans with a bonus of $268.75. That means, instead of just a 5% bonus, mine ended up at 9.11% of the loans that got funded. If I count my $75 in referral fees ($25 for signing up, $25 for referring my wife, and $25 in her account), I’ve already earned 11.65% on the money I have lent.
So far I like Lending Club.
An addition $75 in loans that were fully funded were not officially approved, and they have been credited back to my account. That makes the bonus 9.35% not counting referral bonuses, or 11.96% if I count my referral bonuses.
February 19th, 2008 at 8:43 pm