Lending Club (NYSE:LC) recently announced it is now offering a bonus incentive for IRA investments. From now through April 30, 2017, investors that open an IRA investment will receive a bonus of up to 3% of their investment.
According to Lending Club, the IRA investment offer is valid for new IRA accounts that are opened and into which New Funds are deposited by April 30, 2017 and such new funds are invested by June 30, 2017 or existing Lending Club IRA accounts that deposit New Funds by April 30, 2017, and such New Funds are invested by June 30, 2017. Accounts that qualify for the incentive are Traditional IRA, Roth IRA, SEP IRA, or SIMPLE IRA.
The company noted that investors see historical annual returns on IRA investments between 5% and 7%. It was also revealed that 99% of invest in more than 100 notes of relative equal size have seen positive returns and investors can receive payments as borrowers make their monthly payments. Investors may contribute up to $5,500 (or $6,500 for ages 50 and over) per tax year to an IRA. They can also roll over funds from previous 401(k) or 403(b) retirement plan to a Lending Club IRA and transfer funds from another IRA to a Lending Club IRA.
See the bonus list below.