LendingClub LevelUp Savings
LendingClub's LevelUp Savings pays a 4.00% APY when you deposit at least $250 a month, with no minimum to open and no monthly fee. The rate is strong for savers who deposit regularly; if you can't hit the monthly deposit, a flat-rate account is simpler. FDIC-insured through LendingClub Bank, N.A.
Is the LendingClub LevelUp Savings worth it?
LendingClub’s LevelUp Savings rewards a saving habit. It pays a 4.00% APY when you deposit at least $250 into the account each month, with no minimum to open and no monthly fee — a structure designed to encourage consistent contributions rather than parking-and-forgetting.
Deposits are held at LendingClub Bank, N.A., which we confirmed with the FDIC is an active insured institution (cert #32551, Lehi, UT), with coverage up to $250,000 per depositor, per ownership category.
The trade-off is the condition: the 4.00% rate requires that $250 monthly deposit, so if your saving is irregular, a flat-rate account like Bread or Pibank may serve you better. But if you’re actively building savings each month, the rate is excellent and the no-fee, no-minimum structure is clean. Rates are variable and can change; this is not financial advice. Confirm the current APY and terms on LendingClub’s site before opening.
How does a high-yield savings account work?
A high-yield savings account holds cash and pays interest, quoted as an annual percentage yield (APY). The bank can change a variable APY at any time, and federal rules may limit certain withdrawals. Interest compounds — usually daily or monthly — and is taxable income in the year you earn it.
How much could you earn with the LendingClub LevelUp Savings?
At a 4% APY, a $10,000 balance in the LendingClub LevelUp Savings earns about $400 in interest over a year, before taxes. Double the balance and you roughly double the interest; your real return depends on how long the rate holds.
Illustrative estimate based on the figures on this page, not an offer. Your results will differ.
What are the pros and cons of the LendingClub LevelUp Savings?
The LendingClub LevelUp Savings stands out for 4.00% APY with qualifying monthly deposits, though top rate requires $250+ in deposits each month.
- 4.00% APY with qualifying monthly deposits
- No minimum opening deposit and no monthly fee
- FDIC-insured through LendingClub Bank (verified with the regulator)
- Top rate requires $250+ in deposits each month
- APY is variable and can change without notice
- Online-only — no branches
Who should get the LendingClub LevelUp Savings?
The LendingClub LevelUp Savings is best for savers who can deposit $250+ every month to earn the top rate.
- Savers who can deposit $250+ every month to earn the top rate
- People building a habit of regular saving
- Anyone who wants no minimum to open and no monthly fee
How does the LendingClub LevelUp Savings compare?
Among the 29 high-yield savings accounts we track, the LendingClub LevelUp Savings ranks #16 with a money8020 score of 84/100.
| Product | Score | Tier | Provider |
|---|---|---|---|
| Marcus by Goldman Sachs Online Savings | 96 | Essential | Marcus by Goldman Sachs |
| Bread Savings High-Yield Savings | 94 | Essential | Bread Savings |
| Pibank Savings | 94 | Essential | Pibank |
| Poppy Bank High Yield Savings | 94 | Essential | Poppy Bank |
| Vio Bank High Yield Online Savings | 94 | Essential | Vio Bank (a division of MidFirst Bank) |
See all high-yield savings accounts, ranked →
Common mistakes to avoid with a high-yield savings account
- Chasing a teaser rate without checking the ongoing APY or any balance tier needed to earn it.
- Leaving an emergency fund in a 0.01% big-bank account instead of a high-yield account.
- Assuming the APY is fixed — it is variable and can drop after you open.
- Overlooking transfer times: moving money to a linked bank can take one to three business days.
Key takeaways
- LendingClub LevelUp Savings earns a money8020 score of 84/100, ranking #16 of 29 high-yield savings accounts.
- 4.00% APY with qualifying monthly deposits
- At a 4% APY, a $10,000 balance in the LendingClub LevelUp Savings earns about $400 in interest over a year, before taxes.
- Best for savers who can deposit $250+ every month to earn the top rate.
- Rate and FDIC status fetched from LendingClub Bank and corroborated against a regulator.
Frequently asked questions about the LendingClub LevelUp Savings
How do I earn the 4.00% APY on LendingClub LevelUp Savings?
Per LendingClub, the LevelUp Savings account pays a 4.00% APY when you deposit at least $250 into the account each month. There is no minimum to open and no monthly fee. If you don't make the qualifying deposit, you earn a lower rate, so it suits regular savers best.
Is LendingClub LevelUp Savings FDIC insured?
Yes. Deposits are held at LendingClub Bank, N.A., which we confirmed with the FDIC is an active insured institution (certificate #32551, Lehi, Utah). Deposits are insured up to $250,000 per depositor, per ownership category.
Can the rate on the LendingClub LevelUp Savings change?
Yes. A high-yield savings APY is variable, so the bank can raise or lower it at any time, often following moves in the federal funds rate. Check the rate before you open and review it periodically.
How is interest from the LendingClub LevelUp Savings taxed?
Savings interest is taxable as ordinary income in the year you earn it. If you earn more than $10, the bank sends a Form 1099-INT, and you report it on your federal return.
Sources
We fetched these figures from the provider and corroborated them against a regulator, last checked May 30, 2026. Primary sources: