Ally Bank vs. LendingClub
Compare rates, requirements, and features side-by-side to find the best option for you.
Ally Bank
Savings Account
3.30%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Ally Bank
Savings Account
LendingClub
LevelUp Savings
Up to4.20%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppRange: 3.20% – 4.20%Show Fine Print & Trends Hide Details
LendingClub
LevelUp Savings
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Ally Bank vs. LendingClub
Why Ally Bank?
- ✓No checking account or direct deposit required
Why LendingClub?
- ✓Higher potential APY (4.20% vs 3.30%) on all balances
— Key Feature Differences —
Better Returns at $10,000
LendingClubLendingClub's LevelUp Savings earns more on smaller deposits (approx. $420 vs $330/yr).
Better Returns at $25,000
LendingClubLendingClub's LevelUp Savings pulls ahead with larger amounts (approx. $1050 vs $825/yr).
Best for Simplicity
Ally BankAlly Bank's Savings Account offers 3.30% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
LendingClubLendingClub offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.7 (vs. 4.4)
Shared Benefits
Over a 1-year period, LendingClub's LevelUp Savings pays $90 more interest on a $10,000 balance than Ally Bank's Savings Account.
Executive Summary
LendingClub offers a competitive LevelUp Savings account with an APY of 4.20%, significantly higher than Ally Bank's Savings Account, which provides a 3.30% APY. The LevelUp Savings requires a monthly deposit of $250 to earn the higher rate; otherwise, it defaults to a standard rate of 3.20%. Both accounts have no minimum deposit, no maintenance fees, and are online-only. Ally Bank's account is noted for its simplicity, with no direct deposit requirement, while LendingClub is recognized for better returns at various deposit levels and a superior mobile app experience.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Ally Bank and LendingClub.
| Feature | Ally Bank | LendingClub |
|---|---|---|
| APY | 3.30% Verified: 12/6/2025 ↘︎ 0.20%90d Change | 4.20% Range: 3.20% - 4.20% Verified: 12/6/2025 Stable (90d) |
| Product Name | Savings Account | LevelUp Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.4 | iOS4.8 Android4.7 |
| BBB Rating | A+ | A+ |
| Important Notes | - | The advertised "LevelUp Rate" APY of 4.20% is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" of 3.20% applies. |
| Next Steps |
Savings Comparison
LendingClub earns $577.2 more than Ally Bank.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$1,987.10(9.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,987.10
LendingClub
LevelUp Savings
Savings Breakdown
- Interest Earned+$2,564.30(12.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,564.30
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | LendingClub |
|---|---|---|
| Savings Account | LevelUp Savings | |
Current APY | 3.30% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.3 | -3.6 |
Days Since Change | 36 | 148 |
10-Month High | 3.80% | 4.50% |
10-Month Low | 3.30% | 4.20% |
Adjustments / Mo | 0.48 | 0.19 |
Volatility Score | 0.039 | 0.028 |
How to read these metrics(Click to expand)
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