LendingClub vs. Openbank
Openbank edges out LendingClub slightly at 4.09% vs 4.00% APY. On a $10,000 balance, the difference is just $9 per year—so other factors may matter more.
The Bottom Line
The LendingClub and Openbank savings accounts are very similar. Choose LendingClub if mobile app quality matters.
| Metric | LendingClubLevelUp Savings Feb 21, 2026 | OpenbankHigh-Yield Savings Account Feb 21, 2026 |
|---|---|---|
| APY | 3.00% - 4.00% | 4.09% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$205 $10,000+$409 $25,000+$1,023 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
Terms | 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 AppDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsRate Changes Often |
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. Openbank
Executive Summary
Openbank's High-Yield Savings Account offers a competitive APY of 4.09%, making it the winner in this comparison. This account requires a minimum deposit of $500 but has no maintenance fees or direct deposit requirements, enhancing its appeal for simplicity. In contrast, LendingClub's LevelUp Savings account provides an APY of 4.00% if a monthly deposit of $250 or more is made; otherwise, the rate drops to 3.00%. While LendingClub boasts a strong mobile app experience, Openbank stands out for its straightforward account terms.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why LendingClub?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.7 vs 2.6)
Why Openbank?
- ✓No checking account or direct deposit required
— Key Feature Differences —
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.09% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
LendingClubLendingClub offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.7 (vs. 2.6)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $9 more interest on a $10,000 balance than LendingClub's LevelUp 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
LendingClub vs. Openbank Savings Calculator
You earn $9 more with Openbank than LendingClub 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.
LendingClub
LevelUp Savings
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$409.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,409.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $399 per year in interest.
Both LendingClub and Openbank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | LendingClub | Openbank |
|---|---|---|
| APY | 4.00% Range: 3.00% - 4.00% Verified: 2/21/2026 ↘︎ 0.20%90d Change | 4.09% Verified: 2/21/2026 ↘︎ 0.11%90d Change |
| Product Name | LevelUp Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Monthly |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A- |
| Important Notes | 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 LendingClub Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | LendingClub | Openbank |
|---|---|---|
| LevelUp Savings | High-Yield Savings Account | |
Current APY | 4.00% | 4.09% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.3 | -2.7 |
Days Since Change | 71 | 16 |
12-Month High | 4.50% | 4.75% |
12-Month Low | 4.00% | 4.09% |
Adjustments / Mo | 0.25 | 0.33 |
Volatility Score | 0.038 | 0.027 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare LendingClub vs...
Comparing against Standard Savings
Compare Openbank vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.
More Comparisons
Compare LendingClub's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| LendingClub vs Ally Bank | 3.20% | $0 |
| LendingClub vs American Express | 3.30% | $0 |
| LendingClub vs Axos Bank | 4.21% | $0 |
| LendingClub vs Bank of America | 0.01% | $100 |
| LendingClub vs Barclays | 3.85% | $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 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 |