My previous update of my Lending Club Account Performance was back in September 30, 2009. How time flies by so quickly. I promised then to do periodic updates of my account performance.
Since then I’ve deposited an additional $20,000 in my account because Lending Club was paying a 1% bonus to deposit and invest the money by the end of December 2009. That’s another cool $200 in bonus I couldn’t resist.
Since I’ve invested in Lending Club, loan payments to date total $3,041.23 with zero late payments or loan defaults. That is very good news. I hope the trend continues.
I have only invested in A, B and C borrowers which are the lowest risk borrowers; however, the return is lower than the more risky borrowers (D, E, F, and G).
I currently have 353 outstanding notes (loans to 353 individuals) ranging from $25 to $250. As the money is paid back I’ve reinvested it to other borrowers.
Since I started funding notes in August 2009, I’ve earned $669.78 in interest, but with bonuses I’ve earned a total of $1,492.20. The net annualized return estimated is currently almost 11%. See screenshot below of account summary.
Update: Lending Club is offer $25 for free when you sign-up as an investor at no risk. You can use the $25 to try out P2P lending with no future obligation. There is nothing for you to deposit and you can lend the $25 immediately.