Legal

Personal Product Terms & Conditions

REWARDS CHECKING TERMS & CONDITIONS 

Account Opening & Maintenance 

    • Minimum Opening Deposit
    • $25.00
    • Statement Cycle
    • Monthly
    • Monthly Maintenance Fee
    • $0.00
    • Abandoned Property
    • $50.00 per account1

1. An account will not be overdrawn by the Abandoned Property fee.  An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.  

ATM & Debit Card Fees

    • LendingClub Fee to Use NYCE, SUM or MoneyPass ATM (“In-Network ATMs”)
    • $0.00
      Plus, no fees charged by ATM owner
    • LendingClub Fee to Use Out-of-Network ATM
    • $0.00
      Plus, Unlimited Rebates of fees charged by ATM owner2
    • Currency Conversion Fee
    • .20% of the transaction amount3
    • Cross Border (International) Transaction Fee
    • .90% of the transaction amount4
    • Expedited ATM / Debit Card
    • $35.00

2. ATM Fee Rebate: ATM fees charged by out-of-network ATM owners for all transactions are rebated when using a Rewards Checking debit card.  ATM rebates are credited to your account on the last day of each applicable statement cycle.  If you have not received a rebate for a fee that you believe is eligible, please contact Customer Service at 800.242.0272

3. This charge will be .20% of the non-U.S. dollar denominated transaction amount 

4. Fee is charged whenever the country of the merchant is different than the country of the cardholder, even if the transaction is initiated within the United States and/or in U.S. dollars. 

The Currency Conversion Fee and Cross Border (International) Transaction Fee are charged on International Transactions.  International transactions are those transactions made using your ATM or Debit Card in person, online or via telephone with a party located or who processes transactions outside of the United States, even if the transactions are initiated within the United States and/or in U.S. Dollars. 

Wire Transfer Fees5

    • Domestic Outgoing Wire (Consumer)
    • $20.00
    • International Outgoing Wire
    • $40.00

5. For Elite and Reserved tiers, we will credit up to two Domestic Outgoing Wire fees per year.  An automatic refund will be posted to your account the month after the fee is charged. 

Other Miscellaneous Fees 

    • Stop Payment
    • $25.00
    • Deposited Item Reversal
    • $8.00
    • Canadian Item Collection
    • $7.00
    • Foreign Item Collection
    • $30.00
    • Research
    • $25.00 per hour
    • Levy, Garnishment, Summons, Subpoenas and Court Orders
    • $75.00

How Interest is Earned on Your Account

Daily Balance Computation Method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Your account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier.  Accrued interest is credited to the balance in the account on the last business day of the statement cycle.  We use a monthly statement cycle.  Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle.   

If you close your account before accrued interest, if any, is credited you will not receive the accrued interest. 

The following chart shows the annual percentage yield (“APY”) and interest rate effective as of 12/05/2022. Interest rates and the annual percentage yield are variable and are subject to change without notice at any time, at the sole discretion of the bank.  

    • Balance to Earn Rate
      Balance to Earn Rate
    • Interest Rate
      Interest Rate
    • APY
      APY
    • Balance to Earn Rate
      $0.00 – $2,499.99
    • Interest Rate
      0.00%
    • APY
      0.00%
    • Balance to Earn Rate
      $2,500.00- $99,999.99
    • Interest Rate
      0.10%
    • APY
      0.10%
    • Balance to Earn Rate
      $100,000.00 and more
    • Interest Rate
      0.15%
    • APY
      0.15%

Cash Back Rewards

The Debit Card Rewards Program (“Cash Back Rewards”) provides 1.00% cash-back on all Qualified Purchases using a debit card tied to an Eligible Account.

Eligible Accounts are:  Rewards Checking accounts that meet the following requirements for the calendar month in review:

  • Maintain an average monthly balance of at least $2,500.00; or
  • Receives at least $2,500.00 in Qualifying Direct Deposits.

Qualifying Direct Deposits are defined as: Recurring Automated Clearing House (ACH) credits, including payroll, pension or government payments (such as Social Security) made by your employer, or an outside agency. We may require documentation to verify that credits are Qualifying Direct Deposits. Qualifying Direct Deposits do not include peer to peer payments or ACH transfers (funds transfers) from your external accounts.

QualifiedPurchases are defined as: Signature-based purchases made using the debit card tied to an Eligible Account.  These are “credit” purchases that can be made in stores and online. To make a signature-based purchase, select “credit” rather than debit at point-of-sale kiosks. The “credit” option is most often pre-selected when making purchases online using a debit card. Online subscription payments may not be considered signature-based purchases. The payment transaction type (signature-based or other) is ultimately decided by the merchant and is based on how the transaction is transmitted at the time of processing. Qualified Purchases do not include: (1) any goods or services purchased that are returned or otherwise credited to your Eligible Account; (2) unlawful purchases; or (3) purchases of currency, cash or cash equivalents (including, without limitation, currency from the U.S. Mint, Travelers Checks, gift cards, cryptocurrency, casino chips, peer to peer payments, prepaid debit cards, account openings, loan payments, or other cash equivalents).

We may report the value of Cash Back Rewards to the IRS as required by law.  Any client whose tax status would require us to impose tax withholding of any sort will not be eligible for Cash Back Rewards.

Accounts are reviewed after the end of each month.  Any earned Cash Back Rewards will be credited to your account on or before the 10th calendar day of the next calendar month.  The Eligible Account must be open and active at the time the Cash Back Reward is credited.

 

 

Transactions Limits

    • New Client
      New Client
    • Classic
      Classic
    • Preferred
      Preferred
    • Elite
      Elite
    • Reserve
      Reserve
    • Eligibility 
    • New Client
      Account open for 30 days or less
    • Classic
      Account open for more than 30 days
    • Preferred
      Account open for at least 120 days & at least $5,000 Relationship Balance6
    • Elite
      Account open for at least 90 days & at least $10,000 Relationship Balance6
    • Reserve
      Account open for at least 120 days & at least $50,000 Relationship Balance6
    • Incoming External Transfers (ACH)
    • New Client
      $5,000
    • Classic
      $5,000
    • Preferred
      $100,000
    • Elite
      $150,000
    • Reserve
      $250,000
    • Outgoing External Transfers (ACH)
    • New Client
      $5,000
    • Classic
      $5,000
    • Preferred
      $10,000
    • Elite
      $50,000
    • Reserve
      $250,000
    • Mobile Deposit
    • New Client
      $20,000
    • Classic
      $20,000
    • Preferred
      $50,000
    • Elite
      $150,000
    • Reserve
      $250,000
    • Debit Card Transaction (daily limit)
    • New Client
      $500
    • Classic
      $2,000 signature-based (“credit”) transactions
      $2,000 PIN-based point of sale transactions
      $500 ATM withdrawal
    • Preferred
      $2,000 signature-based (“credit”) transactions
      $2,000 PIN-based point of sale transactions
      $500 ATM withdrawal
    • Elite
      $3,000 signature-based (“credit”) transactions
      $3,000 PIN-based point of sale transactions
      $1,000 ATM withdrawal
    • Reserve
      $4,000 signature-based (“credit”) transactions
      $4,000 PIN-based point of sale transactions
      $2,000 ATM withdrawal

6. Relationship Balance is the combined balance of your LendingClub deposit accounts. 

For additional terms governing your account, please consult the Personal Deposit Account Agreement. 

LendingClub Bank, N.A., Member FDIC

Rev. Date 11/18/22

MEMBER REWARDS CHECKING TERMS & CONDITIONS 

Eligibility RequirementMember Rewards Checking is available on an invite-only basis to individuals who have obtained a qualifying personal loan throughLendingClub Bank that is current and in good standing.  One account per accountholder.  

Account Opening & Maintenance 

    • Minimum Opening Deposit
    • $25.00
    • Statement Cycle
    • Monthly
    • Monthly Maintenance Fee
    • $0.00
    • Abandoned Property
    • $50.00 per account1

1. An account will not be overdrawn by the Abandoned Property fee.  An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero..  

ATM & Debit Card Fees

    • LendingClub Fee to Use NYCE, SUM or MoneyPass ATM (“In-Network ATMs”)
    • $0.00
      Plus, no charge by ATM owner
    • LendingClub Fee to Use Out-of-Network ATM
    • $0.00
      However, fees charged by ATM owners apply
    • Currency Conversion Fee
    • .20% of the transaction amount2
    • Cross Border (International) Transaction Fee
    • .90% of the transaction amount3
    • Expedited ATM / Debit Card
    • $35.00

2. This charge will be .20% of the non-U.S. dollar denominated transaction amount

3. Fee is charged whenever the country of the merchant is different than the country of the cardholder, even if the transaction is initiated within the United States and/or in U.S. dollars.

The Currency Conversion Fee and Cross Border (International) Transaction Fee are charged on International Transactions.  International transactions are those transactions made using your ATM or Debit Card in person, online or via telephone with a party located or who processes transactions outside of the United States, even if the transactions are initiated within the United States and/or in U.S. Dollars. 

Wire Transfer Fees4

    • Domestic Outgoing Wire (Consumer)
    • $20.00
    • International Outgoing Wire
    • $40.00

4. For Elite and Reserved tiers, we will credit up to two domestic wire transfers annually. An automatic refund will be posted to your account the month after the fee is charged.

Other Miscellaneous Fees 

    • Stop Payment
    • $25.00
    • Deposited Item Reversal
    • $8.00
    • Canadian Item Collection
    • $7.00
    • Foreign Item Collection
    • $30.00
    • Research
    • $25.00 per hour
    • Levy, Garnishment, Summons, Subpoenas and Court Orders
    • $75.00

How Interest is Earned on Your Account

Daily Balance Computation Method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Your account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. Accrued interest is credited to the balance in the account on the last business day of the statement cycle.  We use a monthly statement cycle.  Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle.   

If you close your account before accrued interest, if any, is credited you will not receive the accrued interest.  

The following chart shows the annual percentage yield (“APY”) and interest rate effective as of 12/05/2022.Interest rates and the annual percentage yield are variable and are subject to change at any time at the discretion of the bank.  Rates may change prior to funding and any interest being earned. 

 

 

    • Balance to Earn Rate
      Balance to Earn Rate
    • Interest Rate
      Interest Rate
    • APY
      APY
    • Balance to Earn Rate
      $0.00 – $2,499.99
    • Interest Rate
      0.00%
    • APY
      0.00%
    • Balance to Earn Rate
      $2,500.00- $99,999.99
    • Interest Rate
      0.10%
    • APY
      0.10%
    • Balance to Earn Rate
      $100,000.00 and more
    • Interest Rate
      0.15%
    • APY
      0.15%

$100 BONUS OFFFER

By opening a Member Rewards Checking account, you may be eligible to receive a one-time promotional credit of $100 applied toward a Personal Loan (“Loan Bonus”). In order for you to receive the Loan Bonus, the following conditions must be satisfied as of the ninetieth (90th) day after your Member Rewards Checking account opening date (the “Loan Bonus Eligibility Date”): (1) you have at least one Personal Loan with an outstanding balance, (2) no Personal Loans are past due or otherwise not current, and all Personal Loans are otherwise in good standing, (3) your Member Rewards Checking account is open, active, and in good standing, and (4) you have received a total of $1,000 or more from one or more Qualifying Direct Deposits into your Member Rewards Checking account in the calendar month preceding the calendar month in which the Loan Bonus Eligibility Date occurs. If you satisfy each of these conditions as of the Loan Bonus Eligibility Date, the Loan Bonus will be applied toward the unpaid principal balance (not including interest, fees or other charges) of your most recently obtained Personal Loan that has an outstanding principal balance as of the Loan Bonus Eligibility Date (the “Beneficiary Loan”). The Loan Bonus will typicallypost to the Beneficiary Loan within ten (10) business days following the Loan Bonus Eligibility Date. If the unpaid principal balance of the Beneficiary Loan is less than $100 on the date the Loan Bonus is applied (the “Loan Bonus Payout Date”), we may, in our sole discretion, (i) apply the Loan Bonus to the Beneficiary Loan, up to the outstanding principal balance, and deposit the remainder into your Member Rewards Checking account, or (ii) pay the entire Loan Bonus to you via check or another method that we choose. If the status of the Beneficiary Loan changes after the Loan Bonus Eligibility Date but prior to the Loan Bonus Payout Date (for example, if the Beneficiary Loan is closed, charged off or delinquent), we may, in our sole discretion, apply the Loan Bonus to the Beneficiary Loan in any manner that we choose (including but not limited to applying the Loan Bonus towards principal, interest, fees or other charges due on the Beneficiary Loan or another outstanding Personal Loan), or deposit the entire Loan Bonus into your Member Rewards Checking account.LendingClub Bank reserves the right to modify or discontinue the Loan Bonus feature at any time. 

 

 

CASH BACK REWARDS

The Debit Card Rewards Program (“Cash Back Rewards”) provides 1.00% cash-back on all Qualified Purchases using a debit card tied to an Eligible Account.   

Eligible Accounts are:  Member Rewards Checking accounts that meet the following requirements for the calendar month in review: 

  1. Maintain an average monthly balance of at least $1,000.00; or 
  2. Receives at least $1,000.00 in Qualifying Direct Deposits. 

Qualifying Direct Deposits are defined as: Recurring Automated Clearing House (ACH) credits, including payroll, pension or government payments (such as Social Security) made by your employer, or an outside agency. We may require documentation to verify that credits are Qualifying Direct Deposits. Qualifying Direct Deposits do not include peer to peer payments or ACH transfers (funds transfers) from your external accounts. 

Qualified Purchases are defined as: Signature-based purchases made using the debit card tied to an Eligible Account.  These are “credit” purchases that can be made in stores and online. To make a signature-based purchase, select “credit” rather than debit at point-of-sale kiosks. The “credit” option is most often pre-selected when making purchases online using a debit card. Online subscription payments may not be considered signature-based purchases. The payment transaction type (signature-based or other) is ultimately decided by the merchant and is based on how the transaction is transmitted at the time of processing. Qualified Purchases do not include: (1) any goods or services purchased that are returned or otherwise credited to your Eligible Account; (2) unlawful purchases; or (3) purchases of currency, cash or cash equivalents (including, without limitation, currency from the U.S. Mint, Travelers Checks, gift cards, cryptocurrency, casino chips, peer to peer payments, prepaid debit cards, account openings, loan payments, or other cash equivalents). 

We may report the value of Cash Back Rewards to the IRS as required by law.  Any client whose tax status would require us to impose tax withholding of any sort will not be eligible for Cash Back Rewards.   

Accounts are reviewed after the end of each month.  Any earned Cash Back Rewards will be credited to your account on or before the 10th calendar day of the next calendar month.  The Eligible Account must be open and active at the time the Cash Back Reward is credited. 

 

 

CASH BACK REWARDS ALLOCATION

If you select a loan in Online or Mobile Banking, we will apply your cash back reward (“Reward”) toward the unpaid principal balance (not including interest, fees or other amounts) of that loan. We will continue to do so until either the principal balance of the selected loan is paid in full, or you later elect to apply your Reward to another loan or your Member Rewards Checking account. Applying a Reward to a loan will not change your monthly payment obligation.  

If your Reward is greater than the selected loan’s remaining principal balance, we will apply a portion of the Reward to the loan, up to the remaining principal balance, and deposit the remainder of the Reward to your Member Rewards Checking account. Please keep in mind there may be other amounts (such as interest or fees) that remain unpaid. You will be responsible for paying those other amounts. If the selected loan no longer has an outstanding principal balance, your Reward will be applied to your Member Rewards Checking account by default. To apply future Rewards to another loan, you must return to this page and select another loan. 

If the status of your selected loan changes at the time we apply a reward (for example if the loan is closed, charged off, or delinquent) we may, in our sole discretion, apply your Reward to your selected loan, or to another loan, in any manner (including but not limited to applying the Reward towards principal, interest, fees or other charges due on your loan), or deposit the entire Reward amount into your Member Rewards Checking account. 

 

 

Transactions Limits

    • New Client
      New Client
    • Classic
      Classic
    • Preferred
      Preferred
    • Elite
      Elite
    • Reserve
      Reserve
    • Eligibility 
    • New Client
      Account open for 30 days or less
    • Classic
      Account open for more than 30 days
    • Preferred
      Account open for at least 120 days & at least $5,000 Relationship Balance5
    • Elite
      Account open for at least 90 days & at least $10,000 Relationship Balance5
    • Reserve
      Account open for at least 120 days & at least $50,000 Relationship Balance5
    • Incoming External Transfers (ACH)
    • New Client
      $5,000
    • Classic
      $5,000
    • Preferred
      $100,000
    • Elite
      $150,000
    • Reserve
      $250,000
    • Outgoing External Transfers (ACH)
    • New Client
      $5,000
    • Classic
      $5,000
    • Preferred
      $10,000
    • Elite
      $50,000
    • Reserve
      $250,000
    • Mobile Deposit
    • New Client
      $20,000
    • Classic
      $20,000
    • Preferred
      $50,000
    • Elite
      $150,000
    • Reserve
      $250,000
    • Debit Card Transaction (daily limit)
    • New Client
      $500
    • Classic
      $2,000 signature-based (“credit”) transactions
      $2,000 PIN-based point of sale transactions
      $500 ATM withdrawal
    • Preferred
      $2,000 signature-based (“credit”) transactions
      $2,000 PIN-based point of sale transactions
      $500 ATM withdrawal
    • Elite
      $3,000 signature-based (“credit”) transactions
      $3,000 PIN-based point of sale transactions
      $1,000 ATM withdrawal
    • Reserve
      $4,000 signature-based (“credit”) transactions
      $4,000 PIN-based point of sale transactions
      $2,000 ATM withdrawal

5. Relationship Balance is the combined balance of yourLendingClub deposit accounts. 

For additional terms governing your account, please consult the  Personal Deposit Account Agreement. 

LendingClub Bank, N.A., Member FDIC

Rev. Date 11/18/22

HIGH YIELD SAVINGS TERMS & CONDITIONS 

Account Opening & Maintenance 

    • Minimum Opening Deposit
    • $100.00
    • Statement Cycle
    • Monthly
    • Monthly Maintenance Fee
    • $0.00
    • Abandoned Property
    • $50.00 per account1

1. An account will not be overdrawn by the Abandoned Property fee.  An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.  

ATM & Debit Card Fees

    • LendingClub Fee to Use NYCE, SUM or MoneyPass ATM (“In-Network ATMs”)
    • $0.00
      Plus, no charge by ATM owner
    • LendingClub Fee to Use Out-of-Network ATM
    • $0.00
      However, service fees charged by
      out-of-network banks or ATM
      owners may apply
    • Currency Conversion Fee
    • .20% of the transaction amount2
    • Cross Border (International) Transaction Fee
    • .90% of the transaction amount3
    • Expedited ATM / Debit Card
    • $35.00

2. This charge will be .20% of the non-U.S. dollar denominated transaction amount

3. Fee is charged whenever the country of the merchant is different than the country of the cardholder, even if the transaction is initiated within the United States and/or in U.S. dollars.

The Currency Conversion Fee and Cross Border (International) Transaction Fee are charged on International Transactions.  International transactions are those transactions made using your ATM or Debit Card in person, online or via telephone with a party located or who processes transactions outside of the United States, even if the transactions are initiated within the United States and/or in U.S. Dollars. 

Wire Transfer Fees 4

    • Domestic Outgoing Wire (Consumer)
    • $20.00
    • International Outgoing Wire
    • $40.00

4. For Elite and Reserved tiers, we will credit up to two domestic wire transfers annually. An automatic refund will be posted to your account the month after the fee is charged. 

Other Miscellaneous Fees 

    • Stop Payment
    • $25.00
    • Deposited Item Reversal
    • $8.00
    • Canadian Item Collection
    • $7.00
    • Foreign Item Collection
    • $30.00
    • Research
    • $25.00 per hour
    • Levy, Garnishment, Summons, Subpoenas and Court Orders
    • $75.00

How Interest is Earned on Your Account

Daily Balance Computation Method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Your account earns interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier.  Accrued interest is credited to the balance in the account on the last business day of the statement cycle.  We use a monthly statement cycle.  Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle.   

If you close your account before accrued interest, if any, is credited you will not receive the accrued interest. 

The following chart shows the annual percentage yield (“APY”) and interest rate effective as of 12/05/2022.  Interest rates and the annual percentage yield are variable and are subject to change without notice at any time, at the sole discretion of the bank. 

 

    • Balance to Earn Rate
      Balance to Earn Rate
    • Interest Rate
      Interest Rate
    • APY
      APY
    • Balance to Earn Rate
      $0.00 – $9.99
    • Interest Rate
      3.20%
    • APY
      3.25%
    • Balance to Earn Rate
      $10.00- $2,499.99
    • Interest Rate
      3.20%
    • APY
      3.25%
    • Balance to Earn Rate
      $2,500.00- $24,999.99
    • Interest Rate
      3.20%
    • APY
      3.25%
    • Balance to Earn Rate
      $25,000.00 or more
    • Interest Rate
      3.20%
    • APY
      3.25%

Transactions Limits

    • Preferred
      Preferred
    • Elite
      Elite
    • Reserve
      Reserve
    • Eligibility 
    • Preferred
      Account open for 30 days or less
    • Elite
      Account open for at least 90 days & at least $10,000 Relationship Balance5
    • Reserve
      Account open for at least 120 days & at least $50,000 Relationship Balance5
    • Incoming External Transfers (ACH) (daily limit)
    • Preferred
      $100,000
    • Elite
      $150,000
    • Reserve
      $250,000
    • Outgoing External Transfers (ACH) (daily limit)
    • Preferred
      $10,000
    • Elite
      $50,000
    • Reserve
      $250,000
    • Mobile Deposit (daily limit)
    • Preferred
      $50,000
    • Elite
      $150,000
    • Reserve
      $250,000
    • ATM Withdrawal (daily limit)
    • Preferred
      $500
    • Elite
      $1,000
    • Reserve
      $2,000

5.Relationship Balance is the combined balance of your LendingClub deposit accounts. 

 For additional terms governing your account, please consult the Personal Deposit Account Agreement. 

LendingClub Bank, N.A., Member FDIC   

Rev. Date 11/18/22

FOUNDER SAVINGS TERMS & CONDITIONS 

Eligibility Requirement: Founder Savings is an invite-only offer exclusive toLendingClub Retail Notes Investors and is currently nototherwise available.   

Account Opening & Maintenance 

    • Minimum Opening Deposit
    • $0.00
    • Statement Cycle
    • Monthly
    • Monthly Maintenance Fee
    • $0.00
    • Abandoned Property
    • $50.00 per account1

1. An account will not be overdrawn by the Abandoned Property fee.  An abandoned account with a balance of less than $50.00 will be assessed the amount available, reducing the balance to zero.  

Wire Transfer Fees2

    • Domestic Outgoing Wire (Consumer)
    • $20.00
    • International Outgoing Wire
    • $40.00

2. We will credit up to two domestic wire transfers annually. An automatic refund will be posted to your account the month after the fee is charged. 

Other Miscellaneous Fees 

    • Stop Payment
    • $25.00
    • Deposited Item Reversal
    • $8.00
    • Canadian Item Collection
    • $7.00
    • Foreign Item Collection
    • $30.00
    • Research
    • $25.00 per hour
    • Levy, Garnishment, Summons, Subpoenas and Court Orders
    • $75.00

How Interest is Earned on Your Account

Daily Balance Computation Method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Founders Savings accounts earn interest at the interest rate and annual percentage yield in effect for the portion of the account balance within each appropriate tier. For example, if your account balance is $26,000, you would earn the then current rate for the first balance tier ($0.00 – $19,999.99 for $19,999.99 of the balance.  You would earn the then current rate for the second balance tier ($20,0000.00 – $49,999.99) for the remaining $6,000.01 of your account balance. 

Accrued interest is credited to the balance in the account on the last business day of the statement cycle.  We use a monthly statement cycle.  Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. 

If you close your account before accrued interest, if any, is credited you will not receive the accrued interest. 

The following chart shows the annual percentage yield (“APY”) and interest rate effective as of 12/05/2022Interest rates and the annual percentage yield are variable and are subject to change at any time at the discretion of the bank.  Rates may change prior to funding and any interest being earned. 

    • Portion of Balance Earning Rate
      Portion of Balance Earning Rate
    • Interest Rate
      Interest Rate
    • APY Range
      APY Range
    • Portion of Balance Earning Rate
      $0.00 – $19,999.99
    • Interest Rate
      3.25%
    • APY Range
      3.30%
    • Portion of Balance Earning Rate
      $20,000- $49,999.99
    • Interest Rate
      3.25%
    • APY Range
      3.30%
    • Portion of Balance Earning Rate
      $50,000.00 and more
    • Interest Rate
      3.25%
    • APY Range
      3.30%

Withdrawal Transaction Limitations 

For LendingClub Notes investors who do not have a separate deposit account with.LendingClub Bank as of February 21, 2021, only balances in your Notes account are currently eligible for deposit into the Founder Savings Account, notwithstanding any account-related terms to the contrary that may otherwise apply. This means that (1)LendingClub Bank will not accept external transfers into the Founder Savings Account and (2) the mobile remote deposit capture service via the LendingClub mobile app will be disabled. This restriction also applies to any other deposit account that you may open at LendingClub Bank after you open a Founder Savings Account.

 

 

Transactions Limits

    • Daily Limit
      Daily Limit
    • Incoming External Transfers (ACH)
    • Daily Limit
      $250,000
    • Outgoing External Transfers (ACH)
    • Daily Limit
      $250,000
    • Mobile Deposit
    • Daily Limit
      $250,000

For additional terms governing your account, please consult the Personal Deposit Account Agreement. 

LendingClub Bank, N.A., Member FDIC   

Rev. Date 7/27/22