LendingClub Bank Review 2023
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At a glance
CDs
Checking
Savings
About Bankrate Score
Overview
LendingClub Bank is a good option for consumers looking for an online bank that offers competitive yields, low fees and ample ATM access.
Highlights
- ATM Fee Refunds
- No Monthly Fees
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

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 = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

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 = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

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 = 4.4/5
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 by our partners, which impacts how, where, and in what order the products appear.
Overall
LendingClub Bank is an FDIC-insured online bank formerly known as Radius Bank until it was acquired by LendingClub in February 2021. Consumers looking for an online bank that offers competitive yields, low fees and ample ATM access might consider LendingClub Bank to be a solid option.
Pros
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LendingClub Bank offers a competitive yield on its high-yield savings account.
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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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LendingClub Bank’s Rewards Checking account doesn’t have NSF (nonsufficient funds) fees or overdraft fees.
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You can earn 1 percent cash back with LendingClub Bank’s Rewards Checking account.
Cons
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You’ll need at least $2,500 to open a CD. Other online banks have a much lower opening deposit requirement.
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Other banks have higher-yielding accounts.
LendingClub Bank banking products
FEATURES
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of 12/4/2023
LendingClub Bank savings overview
Technically, LendingClub’s High-Yield Savings account has four rate tiers, but regardless of your balance, you currently earn the same competitive APY on all tiers.
Pros
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There are no monthly fees.
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Only $100 is needed to open an account.
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Savers will enjoy the competitive APY being offered.
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You can make your opening deposit using a debit card.
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You can get an ATM card for your High-Yield Savings account.
Cons
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Some banks don’t require a minimum opening deposit.
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LendingClub charges a $35 fee for expedited delivery of ATM/debit cards.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
LendingClub BankAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

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 = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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** |
Stop Payment | $25 |
*There’s only a $10 monthly maintenance fee for tailored checking accounts with average monthly balances less than $500.
**Other withdrawal limits may apply, including a limit on how much you may withdraw at an ATM from your deposit account.
About LendingClub Bank
LendingClub Bank is an online bank based in Lehi, Utah, that was known as Radius Bank until it was acquired by LendingClub Corp. in February 2021. It was renamed LendingClub Bank in July 2021.
Bank 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. The iOS mobile app is highly-rated, while the Android app has middling reviews.
Customer service representatives can be reached by phone and live chat 8:30 a.m. to midnight Eastern time, Monday-Friday, and 8 a.m. to 8 p.m., on weekends.
How LendingClub compares to other banks
LendingClub vs. SoFi
Both LendingClub and SoFi are online-only banks and similar in that they charge little to no fees and offer high yields on their deposit accounts. However, SoFi doesn’t offer certificates of deposits. If that’s what you’re primarily in the market for, or you want to have one bank for all of your deposit accounts, LendingClub may be the better choice.
LendingClub FAQs
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.
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