Discover Bank vs. LendingClub
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Discover BankOnline Savings Account Jan 16, 2026 | LendingClubLevelUp Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.30% | 3.00% - 4.00% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Discover Bank is part of Capital One and this account is not open to new customers. | 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 InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Discover Bank vs. LendingClub
As of Discover Bank offers an APY of 3.30% for its Online Savings Account, with a minimum balance of $0, compared to LendingClub's 4.00% APY for its LevelUp Savings account, with a minimum balance of $0.
LendingClub pays $70 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $330, while LendingClub pays $400 - an APY advantage for LendingClub.
Why Discover Bank?
- ✓No checking account or direct deposit required
- ✓Fast transfers via Zelle® (up to $600 a day)
Why LendingClub?
- ✓Higher potential APY (4.00% vs 3.30%) on all balances
— Key Feature Differences —
Better Returns at $10,000
LendingClubLendingClub's LevelUp Savings earns more on smaller deposits (approx. $400 vs $330/yr).
Better Returns at $25,000
LendingClubLendingClub's LevelUp Savings pulls ahead with larger amounts (approx. $1000 vs $825/yr).
Best for Simplicity
Discover BankDiscover Bank's Online Savings Account offers 3.30% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, LendingClub's LevelUp Savings pays $70 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
LendingClub offers the superior LevelUp Savings account with a competitive APY of 4.00%, provided that a monthly deposit of $250 or more is made; otherwise, the APY drops to 3.00%. This account has no maintenance fees or minimum balance requirements, making it accessible for many savers. In contrast, Discover Bank's Online Savings Account yields 3.30% APY but is currently not open to new customers. Both accounts are online-only and do not require direct deposits. Overall, LendingClub's LevelUp Savings stands out for its higher potential returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Discover Bank vs. LendingClub Savings Calculator
You earn $70 more with LendingClub than Discover Bank 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.
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
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 | Discover Bank | LendingClub |
|---|---|---|
| APY | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change | 4.00% Range: 3.00% - 4.00% Verified: 1/21/2026 ↘︎ 0.20%90d Change |
| Product Name | Online 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 | iOS4.9 Android4.8 | iOS4.8 Android4.8 |
| Zelle® Support | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | Discover Bank is part of Capital One and this account is not open to new customers. | 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 Discover Bank Non-sponsored link to official site | Visit SiteVerify at LendingClub Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Discover Bank | LendingClub |
|---|---|---|
| Online Savings Account | LevelUp Savings | |
Current APY | 3.30% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.5 | -4.2 |
Days Since Change | 13 | 40 |
12-Month High | 3.75% | 4.50% |
12-Month Low | 3.30% | 4.00% |
Adjustments / Mo | 0.41 | 0.25 |
Volatility Score | 0.037 | 0.038 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Discover Bank vs...
Comparing against Standard Savings
Compare LendingClub vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.