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Banking » Reviews » LendingClub Banking Review: Savings, Checking, and CDs

LendingClub Banking Review: Savings, Checking, and CDs

LendingClub is an online only financial institution, offers a solid choice for online savings and checking accounts, CDs and personal loans.
Author: Lorraine Smithills
Interest Rates Last Update: November 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
  • Article update: November 29, 2024
Author: Lorraine Smithills
Interest Rates Last Update: November 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
  • Article update:November 29, 2024

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

LendingClub Bank

lendingclub_logo svg
lendingclub_logo svg

LendingClub Bank

Fees

$0

Minimum Deposit

$100

Our Rating

4.4
★★★★★ 4.4/5

APY Savings

4.00%

LendingClub originated as a peer to peer lending marketplace, matching borrowers with investors who would fund the loans. It was founded in 2007 and in its first 10 years of operating, LendingClub had almost $9 billion in loans.

However, in recent years, LendingClub has expanded its product line to create a more rounded banking experience for its customers.

Compared to other financial institutions, LendingClub does have a limited banking product line, it offers a solid choice for online personal loans, checking, savings and CDs.

LendingClub aims to streamline the process of managing your money with tools to help track your spending habits, debt and net worth via the online platfor