Personally, I have all my savings in a LendingClub LevelUp Savings account, earning 4.00% APY with $250+ in monthly deposits right now. Check out our review here to see if it’s right for your money.
2026 Award Winner
LendingClub LevelUp Savings
Member FDIC.
APY
4.00% APY with $250+ in monthly deposits
Rate info
LevelUp Rate of 4.00% APY applied to full balance with $250+ in deposits in Evaluation Period. Otherwise, accounts earn Standard Rate of 3.00% APY. LevelUp Rate applies for first two statement cycles. Rates variable & subject to change at any time. See terms: https://www.lendingclub.com/legal/deposits/levelup-savings-t-and-cs
- Competitive APY
- No fees
- Easy ATM access
- Unlimited number of external transfers (up to daily transaction limits)
- Requires you to make monthly deposits to earn the best APY
- ACH outbound transfers limited to $10,000 per day for some accounts
- No branch access; online only
The LendingClub LevelUp Savings account has a lot to offer. At the top of the list is its high APY, though you must deposit monthly to earn the best rate. Next is zero account fees, a strong and straightforward perk. Finally, you get a free ATM card, which you can use to withdraw from thousands of ATMs nationwide. Interested? You can open an account with $0.
Open a LendingClub LevelUp Savings Account
Why online banks pay so much more
Online banks and fintech platforms don’t carry the overhead costs from physical branches, large staffs, and in-person infrastructure. And that lean business model means they can pass those savings directly to customers in the form of higher interest rates.
Traditional big banks don’t usually offer high APYs because most customers simply never check. Inertia is profitable for them — and costly for you.
The best HYSAs consistently offer rates 10x to 40x higher than the big bank average. That spread has been meaningful for the past several years, and even as rates shift, the gap between online banks and traditional banks tends to stay wide.
How to switch without losing access to your money
The most common hesitation I hear is this: “What if I need the money quickly?” It’s a fair question.
Banking online means you can’t run down to your corner branch and withdraw $5,000 in cash in a pinch. You need to plan ahead a little for money transfers.
Most online high-yield savings accounts let you:
- Transfer money to and from your checking account within one to three business days
- Link up your existing bank account in the app (for faster transfers)
- Set up recurring deposits so saving becomes automatic
- Access your balance online or via mobile app anytime
The switch itself typically takes about 10 minutes online. You open the account, link your current bank, and transfer whatever amount makes sense. Many people keep their checking account exactly where it is and simply move their savings over to earn more.
I currently earn 4.00% APY on my savings balance. The setup took one afternoon and I haven’t had to think about it since.
The bottom line
Your savings account should be working for you — not for your bank. The difference between 0.01% APY and 4.00% APY isn’t a small technicality. On a decent-size savings balance, it’s hundreds of dollars a year, every year, for doing absolutely nothing differently.
If you haven’t checked your savings rate recently, today is a good day to do it. And if you find out you’re earning next to nothing, the fix is simpler than you think.
Compare the best high-yield savings accounts and start earning more on your money.
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