LendingClub vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | LendingClubLevelUp Savings Jan 7, 2026 | OpenbankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 3.00% - 4.00% | 4.20% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
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 App | FDIC InsuredLow Minimums |
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
As of LendingClub offers an APY of 4.00% for its LevelUp Savings account, with a minimum balance of $0, compared to Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
Openbank pays $20 more than LendingClub on a $10,000 balance after one year. LendingClub pays $400, while Openbank pays $420 - an APY advantage for Openbank.
Why LendingClub?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.7 vs 2.9)
Why Openbank?
- ✓Higher potential APY (4.20% vs 4.00%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $400/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $1000/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% 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. 2.9)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $20 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.
Executive Summary as of
Openbank offers the highest APY with its High-Yield Savings Account at 4.20%, making it the winner in this comparison. This account requires a minimum deposit of $500 but has no maintenance fees and does not require direct deposit. In contrast, LendingClub's LevelUp Savings account provides an APY of 4.00% but only if a monthly deposit of $250 or more is made; otherwise, the rate drops to 3.00%. Both banks operate online only and provide FDIC insurance, but Openbank stands out for its simplicity and better returns at various deposit levels.
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
LendingClub vs. Openbank Savings Calculator
You earn $20 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+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | LendingClub | Openbank |
|---|---|---|
| APY | 4.00% Range: 3.00% - 4.00% Verified: 1/7/2026 ↘︎ 0.20%90d Change | 4.20% Verified: 1/7/2026 Stable (90d) |
| Product Name | LevelUp Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| 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 | iOS4.8 Android4.7 | iOS3.1 Android2.9 |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | Not Rated |
| 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% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.1 | -2.9 |
Days Since Change | 26 | 169 |
10-Month High | 4.50% | 4.75% |
10-Month Low | 4.00% | 4.20% |
Adjustments / Mo | 0.29 | 0.29 |
Volatility Score | 0.033 | 0.026 |
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.