Lending Club is currently offering $1,000 signup bonus for IRA transfers. For people not familiar with their service, you can read my Lending Club review for more details.
Terms and Conditions
Transfers over $250,000 receive $1,000; transfers between $100,000-$249,999 receive $500; transfers between $50,000-$99,999 receive $250; transfers between $25,000-$49,999 receive $100 (terms and conditions apply). To receive your bonus, all funds must be (1) newly transferred within 60 days of opening the IRA, (2) continuously maintained in your Lending Club account and (3) fully invested on the Lending Club primary platform market within 90 days. The funds that qualify you for this bonus offering will be locked for investment purposes only and unavailable for withdrawal. You acknowledge and agree that Lending Club reserves the right to withdraw the full original value of the bonus amount delivered to you upon violation of any of these terms. Failure to fully invest the new funds within 90 days of opening the IRA account will result in your forfeiture of the bonus amount. Transactions in the secondary market ( the trading platform operated in by FolioFN) do not count as “investing funds” or towards unlocking the bonus. This bonus payment is taxable so please consult with your personal tax advisor. You are responsible for any taxes related to this offer. Void where otherwise prohibited. This offer may not be combined with any other offer. Limit: One bonus per tax ID with a maximum bonus of $1,000 per tax ID.
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.
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