Happen Bank savings account and CD rates
Happen Bank advertises 4.20% APY on its LevelUp Savings account. That is 3.83 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #34 of 2767 tracked savings rates by advertised APY. For a $10,000 balance it would rank #19. It was #19 three months ago.
Happen Bank at a glance
| Savings | |
|---|---|
| Top savings APY | 4.20% · LevelUp Savings |
| Minimum to open | $0 · LevelUp Savings |
| Against the national average | 3.83 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 4.40% · 24 months · 2-Year CD |
| Minimum to open | $500 · 24 months CD |
| Against the national average | 2.79 percentage points above the 1.61% FDIC 24-month CD average (Sep 2026) |
| FDIC certificate | 32551 · Lehi, UT |
|---|---|
| Website | www.happen.com |
| Branches | 2 branches in CA, UT |
| Availability | Nationally available |
Happen Bank savings and CD rates
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.66%, and one account in ten advertises 4.16% or more. See the highest savings rates.
Happen Bank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| 6 months | 4.20% | $500 | 6-Month CD |
| 11 months | 4.20% | $500 | 11-Month CD |
| 12 months | 3.50% | $500 | 1-Year CD |
| 14 months | 3.50% | $500 | 14-Month CD |
| 24 months | 4.40% | $500 | 2-Year CD |
| 60 months | 3.40% | $500 | 5-Year CD |
Interactive Tool
Calculate Savings for Happen Bank
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$1,650.70(10.5%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,650.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Happen Bank pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Happen Bank paid a higher average rate on savings and money market deposits than 98% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- Happen Bank, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| LevelUp Savings | 4.20% | $0 | $0 | None | $0 | None | One rate | |
| Fine print: The advertised "LevelUp Rate" APY is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" applies. | ||||||||
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| 6-Month CD | 6 months | 4.20% | $500 | not stated | not stated |
| 11-Month CD | 11 months | 4.20% | $500 | not stated | not stated |
| 1-Year CD | 12 months | 3.50% | $500 | not stated | not stated |
| 14-Month CD | 14 months | 3.50% | $500 | not stated | not stated |
| 2-Year CD | 24 months | 4.40% | $500 | not stated | not stated |
| 5-Year CD | 60 months | 3.40% | $500 | not stated | not stated |
Every requirement above is explicit: no minimum, no fee, no direct deposit, no linked account (observed Oct 5, 2026).
Opening and using the account
| Availability | Nationally available |
|---|---|
| Footprint | 2 branches in CA, UT |
| App Store rating | 4.8 out of 5 |
| Google Play rating | 4.6 out of 5 |
| Eligibility | not stated |
How Happen Bank behaves over time
- 12-month high
- 4.20%
- 12-month low
- 4.00%
- Advertised now
- 4.20%
- At the 12-month high
- Observed cuts, 12 months
- 0
- In a window with 2 Federal Reserve cuts
The advertised LevelUp Savings rate, observed through Oct 5, 2026. The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Sep 22, 2026LevelUp SavingsRaise:4.00%to4.20%
- Obs. Aug 12, 202614-Month CDCut:4.00%to3.50%
- LevelUp Savings
- Up 0.20 percentage points from 30 days ago.
- 24 months CD
- Up 0.90 percentage points from 90 days ago.
At the top advertised rates we observed for Happen Bank's LevelUp Savings, $10,000 would have grown to about $10,403 over the past year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). So it buys as much as $10,061 did a year ago. The series includes promotional tiers where one applied. See how the federal funds rate shapes savings rates.
- LevelUp Savings APY
- Banksparency savings index
- Consumer price index, year over year
- Fed rate cut
Happen Bank CD rates over time
Who is Happen Bank?
| Headquarters | Lehi, UT |
|---|---|
| Founded | 2007 |
| Scale | $12.5B assets · $10.9B deposits, $10.3B of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 32551 |
| BBB rating | A+ · Not BBB Accredited |
| Affiliation | LendingClub Corporation (NYSE: LC) is the parent company of Happen Bank, which operated as LendingClub Bank until 2026. |
| Charter state | Utah · one of 44 insured banks chartered there (Q2 2026, FDIC) |
| Size | 135th-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 91% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What Happen Bank pays on deposits above.
Common questions about Happen Bank
Is Happen Bank FDIC insured?
Yes. Happen Bank is FDIC insured under certificate 32551, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Happen Bank?
Happen Bank requires no minimum deposit to open its LevelUp Savings account, as observed on Oct 5, 2026. Check the bank's current terms before you open an account.
Does Happen Bank have branches?
Yes. Happen Bank operates 2 branches according to FDIC branch records, in addition to its website and mobile apps.
Happen Bank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Happen Bank | 4.20% | 3.54% | $0 | 2 branches in CA, UT |
| EverBank | 4.20% | 3.32% | $0 | 43 branches in CA, FL, MO, NY |
| Newtek Bank | 4.20% | 4.02% | $100 | 1 branch in FL |
| SoFi Bank | 4.20% | 3.19% | $0 | 4 branches in CA, UT |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to Happen Bank's.
Compare Happen Bank with another bank
Each link opens a full comparison page, with the two banks side by side and their current savings rates.
CIT Bank last changed its rate on February 4, 2026, up 10 basis points. Happen Bank last changed its rate on September 22, 2026, up 20 basis points.
Happen Bank vs CIT BankBarclays last changed its rate on June 24, 2026, down 10 basis points. Happen Bank last changed its rate on September 22, 2026, up 20 basis points.
Happen Bank vs Barclays- Happen Bank vs Marcus by Goldman Sachs
- Happen Bank vs SoFi Bank
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Similar banks and related pages
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Rate hubs: today's highest savings rates, and CD rates by term.