Charles Schwab Bank vs. LendingClub
Compare rates, requirements, and features side-by-side to find the best option for you.
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
LendingClub
LevelUp Savings
Up to4.20%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppRange: 3.20% – 4.20%Show Fine Print & Trends Hide Details
LendingClub
LevelUp Savings
Charles Schwab Bank vs. LendingClub Savings Calculator
LendingClub earns $2,478.2 more than Charles Schwab Bank.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
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.
Comparison Analysis
Comparing Charles Schwab Bank vs. LendingClub
Why Charles Schwab Bank?
- ✓No checking account or direct deposit required
Why LendingClub?
- ✓Higher potential APY (4.20% vs 0.15%) on all balances
- ✓Higher rated Android app (4.7 vs 2.9)
— Key Feature Differences —
Better Returns at $10,000
LendingClubLendingClub's LevelUp Savings earns more on smaller deposits (approx. $420 vs $15/yr).
Better Returns at $25,000
LendingClubLendingClub's LevelUp Savings pulls ahead with larger amounts (approx. $1050 vs $38/yr).
Shared Benefits
Over a 1-year period, LendingClub's LevelUp Savings pays $405 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
LendingClub offers a significantly higher APY of 4.20% on its LevelUp Savings account, which is an online-only product requiring a monthly deposit of $250 or more to qualify for this rate. In contrast, Charles Schwab Bank's Schwab Bank Investor Savings™ provides a much lower APY of 0.15%, with no direct deposit requirements and no minimum balance necessary. While Schwab's account has no fees and allows for daily compounding, LendingClub's higher yield presents a compelling option for those who can meet the monthly deposit condition.
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 Charles Schwab Bank and LendingClub.
| Feature | Charles Schwab Bank | LendingClub |
|---|---|---|
| APY | 0.15% Verified: 12/10/2025 Stable (90d) | 4.20% Range: 3.20% - 4.20% Verified: 12/10/2025 Stable (90d) |
| Product Name | Schwab Bank Investor Savings™ | LevelUp Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android2.9 | 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 |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Charles Schwab Bank | LendingClub |
|---|---|---|
| Schwab Bank Investor Savings™ | LevelUp Savings | |
Current APY | 0.15% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -3.6 |
Days Since Change | 314 | 152 |
10-Month High | 0.15% | 4.50% |
10-Month Low | 0.15% | 4.20% |
Adjustments / Mo | 0.00 | 0.19 |
Volatility Score | 0.000 | 0.028 |
How to read these metrics(Click to expand)
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