In my first post about Lending Club, I made a $5,000 investment at the end of December 2017. A month has gone by and it’s time for an update!
Using their automate strategy, Lending Club allocated my $5,000 into 200 notes ($25 per note). My expected return states 3.71%-6.71%.
So far, 1 note has paid in full. This means I’ve received $45.34 in principal and interest payments.
However, Lending Club took $0.67 in fees and I ended up with $0.67 in return.
ROI is 0.0134%.
For a month, that’s pretty ehh…especially when the bank is paying 1%+ interest at places like Capital One and American Express Savings. Had I put my $5K with Capital One, I would have earned $4.17 for the month instead.
However, this just the first month, so things should get better as more people start to pay back their loans. In looking at the details, I’m expected to see 120 and 32 notes pay their first installment on 2/3/18 and 2/4/18, respectively. So, I’m expecting February to be more interesting.
More to come!