LendingClub vs. Newtek Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
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
Newtek Bank
Personal High Yield Savings
4.35%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Newtek Bank
Personal High Yield 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 LendingClub vs. Newtek Bank
Why LendingClub?
- ✓Higher rated Android app (4.7 vs 4.2)
Why Newtek Bank?
- ✓Higher potential APY (4.35% vs 4.20%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $435 vs $420/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1087 vs $1050/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.35% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
LendingClubLendingClub offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.7 (vs. 4.2)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $15 more interest on a $10,000 balance than LendingClub's LevelUp Savings.
Executive Summary
Newtek Bank offers a competitive Personal High Yield Savings account with an APY of 4.35%, making it the winner in this comparison. This account requires a minimum deposit and balance of just $0.01, and there are no maintenance fees or direct deposit requirements, providing a straightforward savings option. In contrast, LendingClub's LevelUp Savings account offers a slightly lower APY of 4.20%, which is contingent upon depositing $250 or more each month; otherwise, a standard rate of 3.20% applies. Both banks operate online only and are FDIC insured.
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 LendingClub and Newtek Bank.
| Feature | LendingClub | Newtek Bank |
|---|---|---|
| APY | 4.20% Range: 3.20% - 4.20% Verified: 12/6/2025 Stable (90d) | 4.35% Verified: 12/6/2025 Stable (90d) |
| Product Name | LevelUp Savings | Personal High Yield Savings |
| Minimum Deposit | $0 | $0.01 |
| Min. Balance for APY | $0 | $0.01 |
| 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 | iOS4.8 Android4.7 | iOS4.5 Android4.2 |
| 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
Newtek Bank earns $97.7 more than LendingClub.
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
Newtek Bank
Personal High Yield Savings
Savings Breakdown
- Interest Earned+$2,662.00(12.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,662.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | LendingClub | Newtek Bank |
|---|---|---|
| LevelUp Savings | Personal High Yield Savings | |
Current APY | 4.20% | 4.35% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.9 | -2.0 |
Days Since Change | 148 | 239 |
12-Month High | 4.75% | 4.90% |
12-Month Low | 4.20% | 4.35% |
Adjustments / Mo | 0.25 | 0.34 |
Volatility Score | 0.033 | 0.022 |
How to read these metrics(Click to expand)
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