LendingClub vs. Openbank
LendingClub and Openbank both offer 4.00% APY on their high-yield savings accounts. With identical rates, your choice comes down to other factors like mobile app quality, branch access, or customer service reputation.
The Bottom Line
The LendingClub and Openbank savings accounts are very similar. Choose LendingClub if mobile app quality matters.
| Metric | LendingClubLevelUp Savings Apr 7, 2026 | OpenbankHigh-Yield Savings Account Apr 7, 2026 |
|---|---|---|
| APY | 3.00% - 4.00% | 4.00% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
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 |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing LendingClub vs. Openbank
Executive Summary
Both LendingClub and Openbank offer competitive high-yield savings accounts with an APY of 4.00%. LendingClub's LevelUp Savings account requires a monthly deposit of $250 to maintain this rate, while Openbank's High-Yield Savings Account has no such requirement, making it simpler for users. Both accounts are online-only and have no maintenance fees, with Openbank requiring a minimum deposit of $500. Overall, while both banks provide comparable rates, Openbank's straightforward approach may appeal to those seeking simplicity.
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 2.5)
Why Openbank?
- ✓No checking account or direct deposit required
— Key Feature Differences —
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.00% 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. 2.5)
Shared Benefits
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
LendingClub vs. Openbank Savings Calculator
Both accounts earn exactly the same amount.
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+$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.
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: 4/7/2026 Stable (90d) | 4.00% Verified: 4/7/2026 ↘︎ 0.20%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+ | 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% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.0 | -2.5 |
Days Since Change | 116 | 7 |
12-Month High | 4.40% | 4.40% |
12-Month Low | 4.00% | 4.00% |
Adjustments / Mo | 0.16 | 0.33 |
Volatility Score | 0.036 | 0.023 |
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 | 3.20% | $0 |
| LendingClub vs Axos Bank | 4.21% | $0 |
| LendingClub vs Barclays | 3.85% | $0 |
| LendingClub vs Capital One | 3.20% | $0 |
| LendingClub vs Chime | 3.00% | $0 |
| LendingClub vs CIT Bank | 3.75% | $100 |
| 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 | 4.20% | $0 |