Prosper Fees

Prosper fees are very straightforward. All of the fees we charge are on this page. There are no fees to use the site, post a listing or place bids. Fees only result from obtaining a loan as a borrower or receiving payments on a loan as a lender.

Borrower Fees

1% closing fee

If you are a borrower and your loan is funded, you will be charged 1% of the amount borrowed or $25, whichever is greater.

For example, if you take a loan for $5,000 to help pay for your wedding, you will be charged $50. The 1% is taken from your loan immediately, so in this example your loan is for $5,000 and you'd receive $4,950 in cash deposited into your bank account.

This means that if you're using Prosper to purchase something specific (like a wedding dress), make sure you ask for enough to cover the dress and the 1% closing fee.

1% Non-electronic payment charge (optional)

Borrowers who elect to pay their loans through bank drafts, rather than the free electronic payment service through ACH, will have 1% of additional interest added to their loan's interest rate. This added interest will be paid to Prosper for processing bank draft payments, not to lenders.