Chime vs. Lending Club
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 16, 2025
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Summary of Chime vs. LendingClub
Key Metrics at a Glance
| Feature | Chime | LendingClub |
|---|---|---|
| Top Savings APY | 3.50% Chime Savings Account | 4.20% LevelUp Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0.01 | $0 |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. | 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. |
Chime
Strengths
- Chime offers an A+ BBB rating and is accredited.
- Chime's app ratings are high with 4.8 on App Store and 4.7 on Google Play.
- Chime has no maintenance fees for its savings account.
Potential Drawbacks
- Chime requires a direct deposit of $200 to earn the 3.50% APY.
- Chime's APY is lower than LendingClub's 4.20% APY.
- Chime does not have physical branches.
LendingClub
Strengths
- LendingClub offers a higher APY of 4.20% compared to Chime's 3.50%.
- LendingClub's Standard Rate of 3.20% is higher than Chime's lower APY of 1.00%.
- LendingClub has no direct deposit requirement to earn interest.
Potential Drawbacks
- LendingClub is not BBB accredited despite having an A+ rating.
- LendingClub's app has a slightly lower Google Play rating at 4.6.
- LendingClub does not have physical branches.
Summary: Chime and LendingClub both offer online-only high-yield savings accounts, but LendingClub provides a higher APY of 4.20% without a direct deposit requirement. Chime, while also offering an attractive APY of 3.50%, mandates a $200 direct deposit to achieve this rate. Both banks have no maintenance fees and lack physical branches, but Chime is BBB accredited, unlike LendingClub.
→ As of November 16, 2025 Chime offers an APY of 3.50% for its Chime Savings Account, with a minimum balance of $0.01, compared to LendingClub's 4.20% APY for its LevelUp Savings account, with a minimum balance of $0.
→ LendingClub yields $70 more than Chime on a $10,000 balance after one year. Chime pays $350, while LendingClub pays $420 - an APY advantage for LendingClub.
Calculate Savings Growth for Chime vs LendingClub
All calculations are based on APY.
Chime - Chime Savings Account
Top APY: 3.50%
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewLendingClub - LevelUp Savings
Top APY: 4.20%
Total savings breakdown:
- Interest earned: $2,564.3 (12.47%)
- Total contributions: $13,000 (63.22%)
- Initial deposit: $5,000 (24.31%)
Your total balance
$20,564.30
Effective APY: 4.20% (based on your deposit and contributions)
Total balance: $20,564.3
Earnings: $2,564.3
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Chime's total earnings would be $450.2 lower than LendingClub's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Chime's vs LendingClub's Savings Accounts
| Chime | LendingClub | ||
|---|---|---|---|
| Product | Chime Savings Account | vs | LevelUp Savings |
| APY | 1.00% - 3.50% (as of 11/16/2025) | 3.20% - 4.20% (as of 11/16/2025) | |
| Bundled Account | Yes | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0.01 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | No | |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. | 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. | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.7/5 | 4.6/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 10 Months)
| Chime | LendingClub | ||
|---|---|---|---|
| Product | Chime Savings Account | vs | LevelUp Savings |
| Latest APY | 3.50 % | 4.20 % | |
| Trend | Rising | Sideways | |
| Slope (bps/mo) | 15.1 | -3.9 | |
| Rate Changes / Mo | 0.21 | 0.21 | |
| Days Since Last Change | 31 | 128 | |
| High (-10 m) | 3.75 % | 4.50 % | |
| Low (-10 m) | 2.00 % | 4.20 % | |
| Draw-down from High | -6.7 % | -6.7 % | |
| Volatility (CV) | 0.204 | 0.028 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 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 (-10 m)
- Highest APY in the last 290 days.
- Low (-10 m)
- Lowest APY in the last 290 days.
- Draw-down from High
- How far today sits below the 10-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.