Bank of America vs. LendingClub
Comparing Bank of America and LendingClub for savings: Bank of America's Advantage Savings pays 0.01% APY while LendingClub's LevelUp Savings pays 4.00% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? LendingClub pays $399 more than Bank of America annually ($400 vs $1).
Choose Bank of America if you want Zelle for quick transfers. Choose LendingClub if getting the best rate matters most.
| Metric | Bank of AmericaAdvantage Savings Feb 17, 2026 | LendingClubLevelUp Savings Feb 17, 2026 |
|---|---|---|
| APY | 0.01% | 3.00% - 4.00% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $100 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. | The advertised "LevelUp Rate" APY of 4.00% is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" of 3.00% applies. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Bank of America vs. LendingClub
Executive Summary
LendingClub offers a significant advantage with its LevelUp Savings account, boasting an APY of 4.00%, provided that a monthly deposit of $250 or more is made; otherwise, the Standard Rate of 3.00% applies. This account has no minimum deposit or balance requirements and no maintenance fees, making it a flexible choice for savers. In contrast, Bank of America's Advantage Savings account offers a much lower APY of 0.01% and requires a minimum deposit of $100, along with a potential monthly maintenance fee of $8 unless certain conditions are met. Overall, LendingClub is the clear winner in terms of returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Bank of America?
- ✓No checking account or direct deposit required
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Why LendingClub?
- ✓Higher potential APY (4.00% vs 0.01%) on all balances
— Key Feature Differences —
Better Returns at $10,000
LendingClubLendingClub's LevelUp Savings earns more on smaller deposits (approx. $400 vs $1/yr).
Better Returns at $25,000
LendingClubLendingClub's LevelUp Savings pulls ahead with larger amounts (approx. $1000 vs $3/yr).
Shared Benefits
Over a 1-year period, LendingClub's LevelUp Savings pays $399 more interest on a $10,000 balance than Bank of America's Advantage Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bank of America vs. LendingClub Savings Calculator
You earn $399 more with LendingClub than Bank of America on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
LendingClub
LevelUp Savings
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | LendingClub |
|---|---|---|
| APY | 0.01% Verified: 2/17/2026 Stable (90d) | 4.00% Range: 3.00% - 4.00% Verified: 2/17/2026 ↘︎ 0.20%90d Change |
| Product Name | Advantage Savings | LevelUp Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $8 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | N/A | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. | The advertised "LevelUp Rate" APY of 4.00% is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" of 3.00% applies. |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at LendingClub Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | LendingClub |
|---|---|---|
| Advantage Savings | LevelUp Savings | |
Current APY | 0.01% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -4.3 |
Days Since Change | 63 | 67 |
12-Month High | 0.03% | 4.50% |
12-Month Low | 0.01% | 4.00% |
Adjustments / Mo | 0.16 | 0.25 |
Volatility Score | 0.117 | 0.039 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Bank of America's APY of 0.01% with other banks
Compare LendingClub's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| LendingClub vs Ally Bank | 3.30% | $0 |
| LendingClub vs American Express | 3.30% | $0 |
| LendingClub vs Axos Bank | 4.21% | $0 |
| LendingClub vs Barclays | 4.00% | $0 |
| LendingClub vs Capital One | 3.30% | $0 |
| LendingClub vs Chase Bank | 0.01% | $0 |
| LendingClub vs Chime | 3.00% | $0 |
| LendingClub vs CIT Bank | 3.75% | $100 |
| LendingClub vs Citibank | 3.20% | $0 |
| LendingClub vs Discover Bank | 3.30% | $0 |
| LendingClub vs EverBank | 3.90% | $0 |
| LendingClub vs Marcus by Goldman Sachs | 3.65% | $0 |
| LendingClub vs Newtek Bank | 4.20% | $0.01 |
| LendingClub vs Openbank | 4.09% | $500 |
| LendingClub vs Pibank | 4.60% | $0 |
| LendingClub vs SoFi Bank | 4.00% | $0 |
| LendingClub vs Synchrony Bank | 3.50% | $0 |
| LendingClub vs Varo Bank | 5.00% | $0 |
| LendingClub vs Wealthfront | 3.95% | $0 |
| LendingClub vs Wells Fargo | 0.05% | $25 |