Most savings accounts are terrible. The national average rate sits at just 0.39% right now, according to FDIC data. And if your money is parked at a big bank, you’re almost certainly earning way less than that.

Late last year, I moved all of my own savings into a LendingClub LevelUp Savings account — and it’s been one of the easiest financial wins I’ve made in a while. I’m earning 4.00% APY with $250+ in monthly deposits, I set it up in about two minutes, and I haven’t thought about it since.

Here’s exactly how it works.

How to unlock 4.00% APY with LendingClub

LendingClub LevelUp Savings has one simple requirement to earn 4.00% APY: deposit at least $250 per month into the account.

It doesn’t require direct deposit from your paycheck — any regular ACH transfer from another bank account works. And there’s no holding period or anything weird — you can transfer the money right back out the next day if you want (not sure why you’d want to though if you’re building a balance).

For me, I just set an auto-transfer of $250 on the 1st of every month from my checking account → savings. It unlocks the highest APY on my entire balance, and I don’t have to touch anything else.

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