Lending Club vs. Santander Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 16, 2025
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Summary of LendingClub vs. Santander Bank
Key Metrics at a Glance
| Feature | LendingClub | Santander Bank |
|---|---|---|
| Top Savings APY | 4.20% LevelUp Savings | 0.01% Santander Savings |
| Minimum to Open | $0 | $25 |
| Minimum Balance for Top APY | $0 | $0 |
| Note | 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. |
LendingClub
Strengths
- LendingClub offers a high APY of 4.20%, significantly higher than Santander's 0.01%.
- LendingClub has no maintenance fees, while Santander charges a $1 monthly fee.
- LendingClub has an excellent BBB rating of A+.
Potential Drawbacks
- LendingClub requires a $250 monthly deposit to earn the highest APY.
- LendingClub has no physical branches, limiting in-person banking options.
- LendingClub is not BBB accredited.
Santander Bank
Strengths
- Santander has physical branches primarily in the Northeast and Miami, enhancing accessibility.
- Santander's account has a lower minimum deposit requirement of $25 compared to LendingClub.
Potential Drawbacks
- Santander's APY is significantly lower at 0.01%, down from 0.03% last month.
- Santander charges a $1 monthly maintenance fee, unlike LendingClub.
- Santander is not rated by the BBB.
→ As of October 16, 2025 LendingClub offers an APY of 4.20% for its LevelUp Savings account, with a minimum balance of $0, compared to Santander Bank's 0.01% APY for its Santander Savings account, with a minimum balance of $0.
→ LendingClub yields $419 more than Santander Bank on a $10,000 balance after one year. LendingClub pays $420, while Santander Bank pays $1 - an APY advantage for LendingClub.
Calculate Savings Growth for LendingClub vs Santander Bank
LendingClub
Total savings breakdown:
- Interest earned: $2,564.3 (12.47%)
- Total contributions: $13,000 (63.22%)
- Initial deposit: $5,000 (24.31%)
Your total balance
$20,564.30
Total balance: $20,564.3
Earnings: $2,564.3
Bank OverviewSantander Bank
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, LendingClub's total earnings would be $2,558.6 higher than Santander Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare LendingClub's vs Santander Bank's Savings Accounts
| LendingClub | Santander Bank | ||
|---|---|---|---|
| Product | LevelUp Savings | vs | Santander Savings |
| APY | 3.20% - 4.20% (as of 10/16/2025) | 0.01% (as of 10/16/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | No | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $25 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $1 | |
| Direct Deposit Required | No | No | |
| Note | 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. | ||
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.5/5 | 4.1/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 9 Months)
| LendingClub | Santander Bank | ||
|---|---|---|---|
| Product | LevelUp Savings | vs | Santander Savings |
| Latest APY | 4.20 % | 0.01 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.4 | -0.1 | |
| Rate Changes / Mo | 0.22 | 0.11 | |
| Days Since Last Change | 97 | 27 | |
| High (-9 m) | 4.50 % | 0.03 % | |
| Low (-9 m) | 4.20 % | 0.01 % | |
| Draw-down from High | -6.7 % | -66.7 % | |
| Volatility (CV) | 0.028 | 0.217 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-9 m)
- Highest APY in the last 268 days.
- Low (-9 m)
- Lowest APY in the last 268 days.
- Draw-down from High
- How far today sits below the 9-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.