Savings accounts have had a turbulent year, with rates sliding, promotions disappearing, and many big banks offering meagre returns of just 0.01%—a laughable reward at best. But when it comes to finding a truly standout savings account, the team at Motley Fool Money knows how to spot a winner. After reviewing hundreds of banking products, including every rate, feature, and fee, the LendingClub LevelUp Savings account has emerged as the clear victor for 2026, earning our Best Savings Account award.
Why LendingClub is Winning Over Savers
LendingClub, which began over a decade ago as a peer-to-peer lending platform, has evolved into a fully-fledged online bank offering checking, savings, loans, and an intuitive mobile app. However, it’s their high-yield savings account (HYSA) that truly steals the show. Here’s what makes the LendingClub LevelUp Savings so appealing:
- 4.20% APY with monthly deposits of $250 or more
- No monthly fees and no minimum balance requirements
- FDIC insurance coverage up to $250,000
- Free ATM access with unlimited fee reimbursements
- A sleek, modern banking app designed for 2026
LendingClub’s account feels like the best of both worlds: saving and spending without the hassle typically associated with traditional big banks.
What You Can Earn with 4.20% APY
If you’re wondering just how much your money can grow with 4.20% APY, here’s a breakdown of what you’d earn over a year:
| Balance | Interest Earned |
|---|---|
| $5,000 | $210 |
| $10,000 | $420 |
| $25,000 | $1,050 |
| $50,000 | $2,100 |
Compared to the pitiful returns of a traditional bank offering just 0.01% APY, LendingClub’s 4.20% is a game-changer. To qualify for this rate, simply deposit $250 each month into the LevelUp Savings account. The funds don’t need to come from your paycheck—any transfer type counts.
A Rare Feature that Sets LendingClub Apart
Most high-yield savings accounts come with one frustrating drawback: transferring funds takes time. Typically, you’d need to move money back to your checking account and wait for the transfer to clear before you can use it.
But LendingClub has a rare feature that makes a world of difference: a debit card directly linked to your savings account. This means you can access your funds instantly at any ATM. And since ATM fees are reimbursed, you won’t pay a penny extra for access. If you’ve ever needed emergency cash, this feature is a huge plus.
Is It Time to Upgrade Your Bank?
If you’re looking for a modern, no-fee bank with genuinely innovative features, LendingClub is an excellent place to start. The best part? You don’t need to fully switch your banking over right away. You can open a LevelUp Savings account, start with small deposits, and get used to the tools before deciding if it’s a good fit for your goals.
With little downside and plenty of upside, there’s no reason not to give it a try.
Limited-Time Offer: Boosted APY and a $300 Bonus
For a limited time, LendingClub is offering new customers up to $300 in bonuses and an extra 0.70% APY on savings for 6 months—bringing the APY to a potential 4.30%. Terms apply. This promotion builds on an already competitive rate and may be the perfect opportunity to switch to a banking relationship that truly benefits your savings goals.
If you’re looking for a top-rated, high-yield savings account, LendingClub’s LevelUp Savings might just be the one that changes the way you think about saving.