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LendingClub Savings Account Interest Rates: June 2025

You can open a high-yield sa🍸vings account with just $100

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LendingClub offers a LevelUp savings account that provides a higher-than-average annual percentage yield (APY) of up to 4.40%, with no monthly maintenance fees. But that rate requires a minimum deposit of at least $250 per month; otherwise, you'll get the Standard Rate.

Learn how LendingClub's savings accounts compare to other 澳洲幸运5开奖号码历史查询:high-yield savings accounts.

LendingClub Savings Account Rates
Account Name How to Earn Highest APY APY Range Monthly Fee
Deposit $250 or more per month 3.40% - 4.40% $0

Compare LendingClub Savings Account Rates

LendingClub does offer fairly high interest rates on its savings accounts, but you may be able to find even higher rates by shopping around. Compare𓆉 different terms and c﷽onditions from our partner offers below.

LendingClub Savings Accounts: Key Features

Lending Club Savings Account Key Features
Level Up Savings APY Range 3.40%-4.40%; deposit $250 per month to earn higher rate
Minimum Balance to Earn Highest APY None
Minimum Opening Deposit $0
LevelUp Savings Withdrawal Limits Daily limits apply to mobile deposits, ATM withdrawals, and outgoing transfers; limits depend on relationship tier
Monthly Service Fee $0

LendingClub’s savings accounts offer APYs that are significantly higher than the national average. No minimum opening deposit is requ൩ired to open an account.

Although LevelUp Savings is available to anyone, the Founders Savings account is invite-only, exclusive to LendingClub Retail Notes investors, as explained below. It's not open to the general public.

The accounts have no monthly fees, and you can get a fre✨e ATM card to use with no fees at in-network ATMs (SUM and MoneyPass ATMs).

LendingClub uses the daily balance metཧhod to calculate interest for each account. The accrued interest is credited to your account on the last business day of the monthly statement cycle. 

Unlike most banks, LendingClub doesn’t have a fixed limit on the number of transfers you can make per month for LevelUp Savings. Instead, it sets daily deposit limits and 澳洲幸运5开奖号码历史查询:withdrawal limits base𒅌d on the total balance in LendingClub acc𓃲ounts. 

LendingClub LevelUp Savings Transfer and Withdrawal Limits
Preferred Elite Reserve
Eligibility Maintain an end-of-day Relationship Balance of >$2,000 for >7 consecutive calendar days Maintain an end-of-day Relationship Balance of >$10,000 for >30 consecutive calendar days OR >$30,000 for >7 consecutive calendar days Maintain an end of day Relationship Balance of >$50,000 for >60 consecutive calendar days OR >$150,000 for >7 consecutive calendar days
Incoming External Transfers (ACH) Daily Limit $250,000 $250,000 $250,000
Outgoing External Transfers (ACH) Daily Limit $10,000 $50,000 $250,000
Mobile Deposit Daily Limit $50,000 $150,000 $250,000
ATM Withdrawal Daily Limit $500 $1,000 $2,000

Important

As a LendingClub customer, you get access to a financial dashboard. You can use the dashboard to create a budget, track you𝄹r spending, develop an action plan to repay outstanding debt, and trac๊k your net worth. 

In LendingClub’s early days, it allowed individuals to become investors by providing funding for loans through the LendingClub Notes program. However, LendingClub Notes has ended. But as a benefit to those founding members, LendingClub introduced the Founder Savings account, an account only available through invitation. If you participated in the LendingClub Notes program, you may be eligible for the Founder Savings account. 

The Founder Savings account doesn’t limit the number of transfers you can make, but it does set a daily limit of $250,000 on outgoing external transfers.

Pros and Cons of LendingClub Savings Accounts

Pros
  • 澳洲幸运5开奖号码历史查询:Higher-than-average APY

  • 澳洲幸运5开奖号码历史查询:No monthly fees

  • 澳洲幸运5开奖号码历史查询:Allows cash deposits at ATMs

Cons
  • ꦰ澳洲幸运5开奖号码历史查询:Deposit requiremen🅠t to earn best rate

  • 澳洲幸运5开奖号码历史查询:Low external transfer limit

  • 澳洲幸运5开奖号码历史查询:Lack of physical branches

Pros Explained

  • Higher-than-average APY: LendingClub’s savings account interest rates tend to be significantly higher than the national average.
  • No monthly fees: Whereas many banks charge monthly fees—or require account holders to maintain a certain balance before they'll waive the fee—LendingClub's high-yield savings accounts have no monthly maintenance fees
  • Allows cash deposits at ATMs: Many digital banks provide no option to deposit cash; all deposits must be made via electronic transfer or mobile deposit. For those in jobs that typically pay cash, that downside is significant. But with the LendingClub savings account you can deposit cash at a MoneyPass deposit-taking ATM. 

Cons Explained

  • Deposit requirement to earn best rate: Although many digital banks offer high rates with no requirements, LendingClub requires a deposit of at least $250 to receive the highest rate for the LevelUp Savings account.
  • Low external transfer limit: Nationally, the per-payment 澳洲幸运5开奖号码历史查询:electronic transfer limit is $1 million. Most banks have lower limits, but they usually allow transfers of $25,000 to $100,000 per day. But with LendingClub, those with LevelUp savings accounts with the basic "Preferred" status based are limited to just $10,000 in outgoing external transfers per day. If you're making a large transaction—such as transferring the funds for a down payment on a house—you may have to space out your deposits, which could be frustrating. 
  • Lack of physical branches: LendingClub operates two branches nationwide, so the vast majority of customers won't have access to a brick-and-mortar location or in-person assistance. 

Note

With a LendingClub savings account, you can deposit and withdraw cash at select MoneyPass ATMs. MoneyPass is a fee-free ATM network with over 40,000 locations nationwide.

About LendingClub: Other Savings Options

澳洲幸运5开奖号码历史查询:LendingClub was founded in 2006 as a digital installment loan platform. But in 2021, it acquired Radius Bancorp and became a bank holding company. Now, LendingClub offers a range of financial products, including 澳洲幸运5开奖号码历史查询:personal loans, auto loans, checking accounts, and savings accounts. 

As a digital bank, LendingClub allows you to open accounts entirely online. You just need to provide your Social Security number, ♔current U.S. address, email address, and the banking details of another bank ꧅account to make your initial deposit. 

Besides high-yield savings accounts, LendingClub also offers a 澳洲幸运5开奖号码历史查询:certificate of deposit (CD). Its CD usually has a much higher-than-a☂verage APY, and you can choose from a variety of term lengths.

LendingClub’s checking accounts, savings accounts, and CDs are backed by the Federal Deposit Insurance Corporation (FDIC), so your deposits are insured up to $250,000. 

Tip

You can only open a LendingClub savings account online. You cannot open an account over the phone, and LendingClub doesn’t operate any branches. If you want one-on-one assistance, you may want a more traditional 澳洲幸运5开奖号码历史查询:brick-and-mortar b🐓ank or credit union.

Alternatives to LendingClub Savings Accounts

If LendingClub isn't right for you, consider one of the following alternatives to build your savings.

  • Other high-yield savings accounts: Although LendingClub offers a high-yield savings account with relatively good interest rates, it likely doesn’t offer the highest rate you can get. If a great APY is on the top of your wish list, check out the best high-yield savings account rates to see how much you could earn.
  • High-yield checking: High-yield savings accounts provide higher-than-average APYs, but they often lack accessibility. They may not provide debit or check-writing privileges, and the bank may limit how many withdrawals you can make per month. If you need to withdraw money from your account with low friction and/or often, a 澳洲幸运5开奖号码历史查询:high-yield checking account may be a better choice.
  • Certificates of deposit (CDs): With a CD your money is committed to the account for a specific period, such as 24 or 36 months, and you earn a fixed rate of interest during that time. 澳洲幸运5开奖号码历史查询:The best CD accounts often pay higher APYs than savings accounts, so your money can grow more quickly. However, if you need to withdraw money from the CD before its maturity date, you'll usually have to pay an early-withdrawal penalty.
  • Cash management accounts: 澳洲幸运5开奖号码历史查询:Cash management accounts are typically offered by non-bank entities, such as brokerage firms. They usually offer substantially higher APYs than the average rate for traditional savings accounts, and they may offer additional Federal Deposit Insurance Corporation (FDIC) coverage, protecting deposits over the $250,000 limit.

Frequently Asked Questions (FAQs)

Are LendingClub Savings Accounts Safe?

LendingClub is a safe option. Like traditional brick-and-mortar banks, LendingClub’s savings accounts are 澳洲幸运5开奖号码历史查询:backed by the FDIC, so your deposits are insured up to $250,000.

How Do You Open a LendingClub Savings Account?

You can 澳洲幸运5开奖号码历史查询:open a LendingClub sav✅ings ✱account online. To open an account you must be at least 18 years old and a citizen or resident of the U.S. with a valid Social Security number. You'll also need at least $100 for the opening deposit for a high-yield account. According to LendingClub, you can fill out the account application and get a response within minutes.

How Much Money Do You Need for a LendingClub Savings Account?

Lending Club doesn't ask for a minimum deposit to 澳洲幸运5开奖号码历史查🦩询:open either of its ♚high-yield savings accounts. But🧸 you will need to deposit at leas🎐t $250 per evaluation period to earn the best rate for the LevelUp Savings account.

How Can You Withdraw Money From a LendingClub Savings Account?

LendingClub doesn’t operate branches, so you can’t withdraw money from a teller. However, you can withdraw money at ATMs with your provided ATM card, or by tra⛄nsferring 𝕴funds to another bank online via ACH.

Is LendingClub Good for Savings?

LendingClub is a useful option for those who want a bank account with 澳洲幸运5开奖号码历史查询:no monthly fees. You can ear🔴n a much higher yield on your savings, and there’s no ongoing minimum꧃ balance requirement.

Is LendingClub’s Savings Account Legit?

LendingClub's savings accounts are a legitimate banking option. LendingClub acquired Radius Bancorp in 2021 and formed LendingClub Bank. Today, it offers a range of banking products and its deposit accounts are backed by 澳洲幸运5开奖号码历史查询:FDIC insurance. Deposits to a LendingClub savi༺ngs or checking account are insured up to $250,000.

Your Guide to Savings Accounts

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