Here’s a great option you might like. Right now LendingClub offers 4.20% APY with $250+ in monthly deposits on its LendingClub LevelUp Savings account. Check it out below.
2025 Award Winner
LendingClub LevelUp Savings
Member FDIC.
APY
4.20% APY with $250+ in monthly deposits
Rate info
Circle with letter I in it.
LevelUp Rate of 4.20% APY applied to full balance with $250+ in deposits in Evaluation Period. Otherwise, accounts earn Standard Rate of 3.20% 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
Min. To Earn APY
$0 to open, $250 cumulative monthly deposits for max APY
Pros/Cons
- 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
Bottom Line
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.
Are other banks just as safe?
Long story short — Yep!
I used to keep all my money with Chase because it’s massive, and that felt “safe.” A lot of people feel the same about Bank of America, and I totally get it.
But the truth is most banks, no matter their size, offer the same FDIC protection. That means online banks and even some tiny fintechs are just as secure as the big guys.
FDIC insurance covers up to $250,000 per person, per bank on deposits in checking and savings accounts. Some credit unions offer NCUA insurance, which works the same way.
As long as you’re choosing a reputable, federally insured institution, your money is protected just like it would be at Bank of America or Chase.
I moved my entire emergency fund (about $25,000) out of Chase and into a high-yield savings account a few years ago. I was nervous at first, but since then I’ve earned over $2,000 in interest. And because the money’s insured, I sleep just fine at night.
How to choose a good HYSA
You don’t need to completely ditch Bank of America. I still have my old big bank checking account and use it for direct deposit, bills, and everyday stuff.
But when it comes to storing extra cash — like emergency funds, travel savings, home down payments — a high-yield savings account makes a lot more sense.
Here’s what to look for when picking a new bank to work with:
- A high APY (Around 4.00% APY is excellent)
- No monthly fees
- FDIC or NCUA insurance
- Easy transfers and access
- A user-friendly app
My HYSA right now is with Betterment. It’s connected to my Chase checking account on the back end so I can do money transfers easily between my checking and savings accounts.
Ready to earn 400x more interest?
Switching where your savings lives might seem small. But it can have a massive impact over time
I used to ignore this APY stuff, too. But once I saw how much money I was leaving on the table, I couldn’t unsee it. Moving just one chunk of savings from a 0.01% account to a 4.00% HYSA turns dead money into easy money.
You don’t need to overhaul your whole financial life. Just open a high-yield account, link it to your checking, and let the interest start rolling in.
Before you know it, hello new AirPods!
See which banks are paying the highest APYs and start saving smarter today.