Rare perks for a high-yield savings account

Many high-yield savings accounts (HYSAs) focus on the rate only — and strip away everything else.

But LendingClub is really different, offering features you rarely see in the HYSA world.

Here are a few things that standout:

  • No monthly fees or maintenance charges
  • Free ATM access with a linked debit card (super rare for HYSAs)
  • Unlimited external transfers, subject to transaction limits
  • FDIC insured up to $250,000 through LendingClub Bank, N.A.

What I love most is the practical access to your cash. If you ever need money in a pinch, you can stroll down to the nearest ATM and withdraw some.

Of course, the goal isn’t to treat this like a checking account — it’s to build up your savings for short-term goals.

It’s a great place to keep emergency funds, travel savings, or even just your monthly buffer.

Why consistency wins

The 4.20% APY with $250+ in monthly deposits is great, but what really matters is how easy this account makes it to save regularly and stick with it.

It literally forces you to build an ongoing savings habit.

And once it’s set up, all you need to do is remain patient and go about your normal life. Your account will grow in the background.

For example, let’s say you deposit $500/month and never touch it. After 12 months, here’s what that looks like:

Month

Balance

Interest Earned

1

$500

$1.75

6

$3,000

$36.27

12

$6,000

$135.64

Data source: Author’s calculations.

You won’t get rich overnight. But that’s not the goal. It’s about creating a consistent money-saving system that actually works.

Set it up, forget it, and then wake up after a year with over $6,000 in savings.

Is LendingClub LevelUp Savings for you?

If you’ve got $250/month you can comfortably set aside, this account is one of the easiest wins in personal finance.

And since there are no account fees or minimums, there’s very little downside to opening an account and giving it a try.

You’ll naturally set aside more money, all while earning a top APY

Read our full LendingClub LevelUp Savings review here to learn more and start growing your savings today.

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