Lending Club, the largest peer-to-peer lender in the world today, has announced a very generous bonus available for a limited time only. Investors new or old, can earn up to $300 in cash depending on the amount of new money they load into their Lending Club accounts and invest before July 31st 2010. First, let’s talk about the bonus tier levels because the amount you invest is directly related to the amount you earn as a cash bonus.
Any current funds you have in your Lending Club account will not count toward the load amounts you need in order to attain this bonus, only newly loaded funds as of June 22,2010. In addition, there are a good number of other rules that must be followed:
Update -As of July 1st, 2010, the Lending Club Bonus offer is no longer taking place
- This bonus is for a very limited time only. All funds must be loaded in your Lending Club account by June 30th 2010. Any funds loaded after this date are ineligible for the bonus.
- The bonus will be added to your Lending Club account on July 15th 2010 and will be unlocked for withdrawal on July 31st, 2010 if all required funds have been invested. You cannot simply load the funds without investing, or your bonus will be forfeited.
- Only the first 200 people to load their funds at each tier level will qualify for this bonus so act fast.
- The funds must be invested in the primary market, not the secondary market.
The final restriction would come from actually opening up a Lending Club account. Currently, only residents of CA, CO, CT, DE, FL, GA, HI, ID, IL, KY, LA, ME, MN, MO, MS, MT, NH, NV, NY, RI, SC, SD, UT, VA, WA, WI, WV, and WY are able to participate in p2p lending with Lending Club.
Current returns in Lending Club are at record highs (currently 9.64% on average) and earning a $300 cash bonus on a $10,000 deposit is a great way to earn an additional 3% on your money in the matter of a month (So roughly a 36% return if you look at it that way). To take advantage of this limited time offer, sign up for a Lending Club account now.
Published or updated June 7, 2011.