The whole of the procedure of accessing MyInstantOffer Lending Club loan is pretty much straightforward and requires no more than 5 steps.
Step One: Check what MyInstantOffer has in the store for you
You need to visit the official website of My Lending Club for a quick soft credit check. This means that this check will not appear on your credit history in any way and will not affect your credit score.
The Lending Club will then inquire from you your consent to apply for a joint loan, meaning two individuals can share this loan and in fact at times this can be helpful since amount is divided and the interest rate drops but it lengthens the process for loan approval.
Or you can go for the Just Me option click Next.
Enter your Date of Birth.
Tell the figures you earn in a month.
Then give your Name and Residential Address.
In the end give your email ID and password.
Place the check mark in the box provided and tap on Get Your Rate to check what Lending Club has in the store for you.
Step Two: You can now accept or reject the Lending Club Offer
Now that you have all the loan offers in front of you, it is time to make a decision. If you are leaning towards accepting the offered loans then it is prudent to neglect the “interest rate” shown and instead focus on APR value which is “annual percentage rate” which in fact would show the real interest rate plus the fee charged. This is different for everybody according to their credit score and income.
Interest rate + fee = APR
When you have checked everything, tap on Continue.
Step Three: Give verification of your identity to The Lending Club
To verify your identity you will have to enter some details of yourself and your income. This may include your residential settings or employment details.
You also need to give your Social Security Number (SSN)!
Step Four: It is time to accept the terms of the Loan
Now when you see the section for “Loan Rate & Terms” you should know you have almost reached till the end of your loan application.
This page will list down all the rate and terms including the loan amount, the fee charged and the rest of the legal jargon. It is wise to go through this document carefully in case any terms conflicts with your financial settings.
When you click the button for “I Agree” you have officially signed the application for your loan.
Step Five: Get your email, bank details and other documents connected
You will then be required to give your banking details to The Lending Club. This will help them deposit your loan amount once it gets approved and also will help the bank take your monthly installments once the loan has been issued.
It is quite easy to connect your bank account all you have to do is tap on your bank’s logo and enter your username and password set up. You can also give the routing numbers of your bank but this only delays the application process.
The last step that Lending Club would do is verify your email address which you can do so by tapping link they have mailed you.
And you are done!