LendingClub
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
LevelUp Savings: 3.40% - 4.40% APY(Rank 10 out of 74 tracked HYSAs)
Minimum Deposit: $0 | Online Only
National Savings Interest Rate: 0.42% (as of 5/19/2025)
Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.
(Source: FDIC)Bank Overview
Location: Lehi, Utah (LendingClub Corporation HQ: San Francisco, California)
Founded: 2007
Affiliation: LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank
Access to Branches: None
BBB Rating: A+ (Not BBB Accredited.)
App Store Rating: 4.8/5
Google Play Rating: 4.6/5
Website: Visit LendingClub
Our Take on LendingClub
Highlights
- LevelUp Savings offers a competitive APY of 4.40%
- No maintenance fees or minimum balance requirements
- High App Store rating of 4.8
- A+ BBB rating indicates strong trustworthiness
Considerations
- APY drops to 3.40% without monthly deposits of $250+
- No physical branches available for in-person service
- Not BBB Accredited despite high rating
- Direct deposit is not required but may limit some users
Summary: LendingClub's LevelUp Savings account provides a strong APY of 4.40% with no fees or minimum balance, making it appealing for savers. However, the APY is contingent on monthly deposits of $250 or more, and the bank lacks physical branches. With an A+ BBB rating, it shows reliability, but its non-accreditation may raise concerns. The bank's high App Store and Google Play ratings reflect positive user experiences.
Savings Account
Savings Account Offered by LendingClub
| Feature | LevelUp Savings |
|---|---|
| APY | 3.40% - 4.40% (as of 6/20/2025) |
| APY Trend | Stable for the last month |
| Minimum Deposit | $0 |
| Minimum Balance for APY | $0 |
| FDIC-insured | Yes |
| Online Only | Yes |
| Bundled Account | No |
| Direct Deposit Required | No |
| Compound Frequency | Daily |
| Maintenance Fee | $0 |
| Eligibility | United States |
| Note | The advertised "LevelUp Rate" APY of 4.40% is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" of 3.40% applies. |
No deposit agreement summary available for this bank. | |
Calculate Savings for LendingClub
All calculations are based on APY.
LevelUp Savings (APY: 3.40% ⎼ 4.40%)
Deposit Frequency:
Total savings breakdown:
- Interest earned: $4 (3.85%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (96.15%)
Your total balance
$104.00
Effective APY: 4.40% (based on your deposit and contributions)
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
LendingClub Savings Rates Over Time
Historical APY Insights
| Metric | LevelUp Savings |
|---|---|
| Latest APY | 4.40 % |
| Trend | Sideways |
| Slope (bps/mo) | -4.3 |
| Rate Changes / Mo | 0.32 |
| Days Since Last Change | 85 |
| High (-6 m) | 4.75 % |
| Low (-6 m) | 4.40 % |
| Draw-down from High | -7.4 % |
| Volatility (CV) | 0.020 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-6 m)
- Highest APY in the last 186 days.
- Low (-6 m)
- Lowest APY in the last 186 days.
- Draw-down from High
- How far today sits below the 6-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Compare LendingClub's Savings Account
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| Feature | LendingClub | Select a bank... |
|---|---|---|
| Product | LevelUp Savings | N/A |
| APY | 3.40% - 4.40% (as of 6/20/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Daily | N/A |
| Minimum Deposit | $0 | N/A |
| Minimum Balance for APY | $0 | N/A |
| Maintenance Fee | $0 | N/A |
| Direct Deposit Required | No | N/A |
| Note | The advertised "LevelUp Rate" APY of 4.40% is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" of 3.40% applies. | N/A |