LendingClub Bank Review 2025
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Edited by
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At a glance
Overview
LendingClub Bank is a good option for consumers looking for an online bank that offers competitive yields and low fees. LendingClub also offers a good range of certificates of deposit (CDs).
Highlights:
ATM Fee Refunds No Monthly FeesHighlights:
CDs
Checking
Savings
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.1/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
LendingClub offers a wide array of deposit accounts, ranging from CDs and high-yield checking and savings accounts. LendingClub accounts generally charge small fees, and those who are primarily looking for broad ATM access will find the online bank to be a good choice, as it provides unlimited ATM rebates from fees charged by ATM providers.
Pros
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LendingClub Bank offers a top-tier annual percentage yield (APY) on its high-yield savings and checking accounts.
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The bank charges no monthly fees on many of its products.
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Checking account holders with direct deposit can receive their paychecks up to two days early.
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You can earn 1 percent cash back on debit card purchases with the LevelUp Checking account and 1 percent APY (on balances of $2,500 or more).
Cons
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No customer support on Sundays, and potentially limited access on weekdays to those not on Eastern time.
LendingClub Bank products
LendingClub Bank LevelUp Savings account
Pros
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There is no minimum deposit required to open the LevelUp Savings account.
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There is no monthly fee on this account.
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High APY, as long as you make deposits of at least $250 each month.
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The account comes with a free ATM card.
Cons
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You can only earn the high APY if you deposit at least $250 each month into your savings account. If you miss a monthly cycle, you will earn a lower standard APY, though it's still competitive.
Rate history for LendingClub's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
LendingClub Bank certificates of deposit
Pros
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Rates for LendingClub CDs range from decent to competitive.
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LendingClub offers all the most common CD terms, which is helpful for building CD ladders.
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The minimum deposit requirement is relatively low at $500.
Cons
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LendingClub doesn’t offer specialty CDs, like bump-up or no-penalty CDs.
Rate history for LendingClub's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
LendingClub Bank LevelUp Checking account
Pros
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The LevelUp Checking account pays a good interest rate (for a checking account) on balances of $2,500 or more.
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It also pays 1 percent cash back on purchases at gas stations, grocery stores and pharmacies, as long as you receive at least one direct deposit each month.
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If you have a personal loan with LendingClub, you can earn 2 percent cashback on payments made via your checking account.
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The account is largely fee-free, without minimum balance requirements or monthly fees.
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You can use thousands of ATMs for free, and LendingClub provides unlimited ATM rebates from fees charged by ATM providers.
Cons
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You need a balance of at least $2,500 to begin earning interest, which is more than some other checking accounts require for similar APYs.
How LendingClub compares to other banks
Compare different account types offered by LendingClub Bank. Annual percentage yields (APYs) shown were updated between Nov. 27, 2025 and Dec. 3, 2025.
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Selected bank
LendingClub Bank savings account
Bankrate score
5.0
Bankrate Savings rating = 5.0/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Ally Bank savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Nov. 27, 2025 and Dec. 3, 2025.
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| 4.20% | 3.30% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $2,100 | $1,650 | |
| LendingClub Bank offers a LevelUp Savings account that rewards you with a top-notch yield but only when you make deposits totaling at least $250 per statement cycle. If you don't meet the $250 requirement in a given month, your yield will be lower (though still fairly competitive). The account has no monthly service fees and no minimum balance required to earn interest. | Ally Bank consistently offers a competitive yield on its Online Savings Account. The online bank doesn’t have the absolute highest yield, but it offers a competitive one and doesn’t have a minimum balance requirement or a monthly service fee. The bank offers mobile deposit, but you’ll need to transfer money to the Ally checking account or money market account if you want to access money in your savings from an ATM. | |
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Bankrate does not currently track additional product details for this bank.
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APY offering:
3.30%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
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Bankrate does not currently track additional product details for this bank.
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Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | None |
| Non-sufficient funds fee | None |
| Monthly maintenance fee | None |
| Out-of-network ATM fee | None |
| Excessive transaction fee | None |
Customer experience
Digital experience. LendingClub Bank offers lots of tools and features to help consumers manage their money, including a mobile app for depositing checks, accessing budgeting tools, paying bills and much more. LendingClub Bank also lets users link external accounts, create a budget and determine their net worth. LendingClub’s mobile app is highly rated by both iOS and Android users.
Customer service hours. Customer service representatives can be reached by phone and live chat from 8 a.m. to 8 p.m. ET, Monday through Saturday.
Bankrate staff insights
Where did this quote come from?
Our focus at Bankrate is on delivering accurate content and the right context for making well-informed financial decisions.
We gather real quotes from real people through surveys, interviews, and testimonials from Bankrate staff and consumers like you who have actual experience with these products. We then hand-pick what to feature to ensure credibility and relevance.
Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.
The above images were last updated on Jan. 22, 2024.
Video overview: Easy app transfers
All rates, features and offers shown in the media on this review were accurate at the time they were procured, but may have changed since recording. The content may also contain views and opinions that do not reflect those of Bankrate.
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Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
