The Lending Club known for its peer lending network has an offer for a $500 cash bonus with an IRA account investment. The no-fee IRA can be opened with a 401K Rollover, IRA Transfer, or ROTH Conversion, and Traditional, Roth, SEP and Simple IRA account. This offer is valid for New Lending Club IRAs that are opened, have funds transferred, or have funds invested within 90 days of opening the IRA.
When you transfer funds to a new Lending Club IRA account these are the bonus amounts you can earn:
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.
To get this bonus offer 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.
You should see your bonus within 120 days of account opening as an account credit. One major disappointment is that 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.
Keep in mind that all bonuses are for investment purposes only and will not be available for withdrawal or transfer from your New Lending Club IRA account.
How to get a Lending Club No-Fee IRA
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. Then you must maintain an invested balance of $10,000 or more in Lending Club Notes to continue to qualify. If you do not meet these requirements you will see an annual fee of $100.
Steps To Open a Lending Club IRA Account
1. Visit LendingClub
2. Click on the “Start Investing Today” button for investors on the middle right of the page.
3. Click the “Open a Lending Club IRA Today” link on the bottom left of the page.