LendingClub Banking Review 2026: Checking, Savings and CDs
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
After acquiring Radius Bank in 2021 and rebranding it with its own name, LendingClub became a digital bank with a full line-up of deposit accounts, including a solid checking account with perks such as ATM fee rebates and cash back for some everyday purchases. The bank also offers free access to two nationwide shared ATM networks and competitive rates on its savings account and certificates of deposit.
No monthly fees.
Competitive rates on savings account and CDs.
ATM fee rebates.
Competitive rewards checking account.
No overdraft program.
No branch access.
Product reviews
Certificates of deposit
Low minimum, strong rates. LendingClub certificates of deposit are available in terms ranging from six months to five years. The minimum opening deposit of $500 is low, and rates are strong.
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 6 months | 3.90% | $500 |
| 10 months | 3.50% | $500 |
| 11 months | 4.15% | $500 |
| 1 year | 3.50% | $500 |
| 14 months | 4.00% | $500 |
| 1.5 years | 3.50% | $500 |
| 2 years | 3.50% | $500 |
| 3 years | 3.45% | $500 |
| 5 years | 3.40% | $500 |
LendingClub CD
Savings
No monthly cost or minimums. There is no minimum amount required to open or maintain this account and no monthly fees.
Strong rate but there’s a catch. The savings rate is competitive with some of the best high-yield online savings rates. The APY is 4.00% for folks who deposit at least $250 in their account monthly, which is also known as a statement cycle or "Evaluation Period." If customers don't make those deposits, the rate is 3.00%, which is still really strong compared to most competitors. Note that many other high-yield savings accounts don’t require monthly deposits for their top APYs.
Checking
Limited scope for cashback rewards. With the LevelUpChecking account, you can earn 1% cash back on some signature-based purchases in stores and online (at store checkouts, you select “credit” instead of "debit"). The signature-based purchases have to be for groceries, gas or pharmacies (based on merchant codes), and you need to make at least one monthly direct deposit to receive cash back.
» See more options on our list of best rewards checking accounts
Earns decent interest. If your balance hits $2,500, a 1.00% annual percentage yield kicks in. Accounts with lower balances than $2,500 don't earn interest. Many checking accounts don’t have interest, so this is a rare perk.
No regular fees or minimums. LendingClub LevelUp Checking has no monthly fee and no minimum balance or minimum opening requirement.
Free ATM access in the U.S. and abroad. LendingClub doesn’t charge fees for using other banks’ ATMs for cash withdrawals. The bank issues refunds — with no cap — on fees charged by non-network ATM owners. That includes ATMs abroad, though you still might be subject to international exchange fees and might need to contact customer support if an international fee rebate doesn’t automatically get applied.
LendingClub LevelUp Checking
Customer experience & overdraft fees
Customer experience
Informative website, extended phone hours. LendingClub offers phone support with extended hours during the week and on weekends (but not Sundays). Its website has an extensive FAQ section as well as live chat on certain webpages. The LendingClub apps earn high user ratings from iOS and Android users.
Overdraft fees
No coverage or fees. LendingClub doesn’t have an overdraft program, which typically means it declines transactions that would overdraft your account. This kind of system can help you not incur fees, but if you sometimes need to overdraw your account for an important transaction to go through, you can find accounts that charge either no fee or a low fee for that service. See our picks for best banks for overdrafts.
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.