The Lending Club peer lending network is offering up to a $500 cash bonus to new Lending Club IRA account investors.
Updated 9/2/2015: I just saw this new offer available when I logged in to my Lending Club account, so log in and visit your account home page to access this offer through the banner shown below.
You can open a new Lending Club IRA Account for Investors to earn up to a $500 cash bonus when you transfer funds to a new Lending Club IRA.
You can open your no-fee IRA with a 401K Rollover, IRA Transfer, or ROTH Conversion, and Traditional, Roth, SEP and Simple IRA accounts are available.
Currently only residents of the following states may invest in Lending Club notes: 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, or WY.
Lending Club IRA Cash Bonus Amounts
You’ll earn the following bonus amounts when you transfer funds to a new Lending Club IRA account:
- Transfer and invest $5,000 to $9,999 and get a $25 bonus to invest.
- Transfer and invest $10,000 to $24,999 and get a $50 bonus to invest.
- Transfer and invest $25,000 to $49,999 and get a $125 bonus to invest.
- Transfer and invest $50,000 to $99,999 and get a $250 bonus to invest.
- Transfer and invest $100,000 or more and get a $500 bonus to invest.
The amount of any bonus will be determined based on both the amount of new funds transferred from external accounts and the amount of those funds invested within 90 days of opening a New Lending Club IRA.
The account credit will be processed within 120 days of account opening.
Lending Club IRA Bonus Details
To be eligible for this bonus offer, you must click on the “Enroll and Transfer Funds to an IRA” link on the promotional page within your account to open a new Lending Club IRA.
This offer is valid for New Lending Club IRAs that:
1. Are opened.
2. Have funds transferred.
3. Have funds invested within 90 days of opening the IRA.
Existing account balances will not be considered in determining eligibility for the amount of any bonus described in this offer.
All bonuses are given as an account credit.
All bonuses are for investment purposes only and will not be available for withdrawal or transfer from your New Lending Club IRA account.
“Invested” means that the funds have been used to purchase Notes through the Lending Club platform.
Transactions on the Folio Investing Note Trading Platform do not count toward the “invested” amount for purposes of determining eligibility for this bonus offer or the amount of any bonus.
The maximum bonus is $500.
There is a limit of 1 bonus per account.
Please note that no specific expiration date is provided for this promotion, so it is only available if you see the banner being displayed on the home page of your online account with Lending Club.
Lending Club No-Fee IRA Requirements
To qualify for a no-fee IRA, you must have an initial minimum balance of $5,000 or more in Lending Club Notes and maintain this invested balance for the first 12 months.
To continue to qualify for the no-fee IRA after the first year, you must maintain an invested balance of $10,000 or more in Lending Club Notes.
All account balances are determined as of the last business day immediately prior to the anniversary date of the opening of your account.
An annual fee of $100 applies to accounts that don’t meet these requirements.
How To Open a Lending Club IRA Account
1. Visit LendingClub.com.
2. Click on the “Start Investing Today” button for investors on the middle right side of the page.
3. Click the “Open a Lending Club IRA Today” link on the bottom left side of the page.
Take advantage of this Lending Club IRA bonus offer to earn up to a $500 cash bonus from Lending Club.
You may also be interested in the Lending Club Cash Back Bonus for new investors who open a standard Lending Club investment account.
Open a Lending Club IRA account today to qualify for up to $500 in cash bonuses from the Lending Club peer lending network.