When you set up direct deposit into your LendingClub bank savings account, we make your funds available as soon as we receive notification from the depositor when funds will be available. Instead of holding on to the funds until your official deposit date from your employer, you may receive your funds up to two days early. Early receipt is contingent upon and subject to the payor’s support of such features.
How does early direct deposit work?
Additional Product Features FAQ
- When is the First Evaluation Period for a new LevelUp Savings Account?
- How do I earn a LevelUp Rate?
- Can I make multiple deposits in a month to meet the requirement?
- What type of deposits qualify for the LevelUp Rate?
- Do I need to make deposits prior to the First Evaluation Period?
- What is the Evaluation Period?
- Can I set up recurring deposits to ensure I always make a deposit?
- What happens if I miss the deposit requirement for a month?
- Is there a minimum amount required for a deposit?
- What is a LevelUp Savings Account?
- Is LevelUp Savings only for new members?
- What happens when my CD matures?
- How do I earn interest on my savings account?
- Can I add additional funds to my CD?
- What is a CD and how does it work?
- What is the minimum balance to keep in my savings account?
- How do I activate a new ATM/Debit card?
- Can I withdraw my money early from my CD and are there penalties?
- Will I be notified as my CD nears maturity?
- Are there any fees for my savings account?
LendingClub Resources
Related Resource Center
If you’re in the market for a new car, you might be wondering if your current credit score will help you get a good deal or hold you back. Your credit score is an important part of the process, but it’s not the only factor. Though good and excellent credit scores help when taking out any line of credit, it is possible to buy a car with a less-than-ideal score.
Pride of homeownership also means managing (and paying for) what can often feel like an insurmountable list of repairs and improvements. Sometimes it's difficult to know when to DIY a home repair project or find a handyman or other professional better equipped to handle it for you. Learn which common home improvement projects are simple enough to tackle on your own, and when to call in the experts.
Related Impact
From groceries and diapers to Halloween costumes for pets, nearly 60% of American consumers prefer to shop online for everyday items that make life more convenient, comfortable, and enjoyable. And with rising prices showing no signs of stopping anytime soon, we’re pleased to introduce StackitTM from LendingClub Bank—a new browser extension that automatically finds and rewards eligible members with coupons and cash back for extra savings at more than 15,000 favorite online retailers.
LendingClub completed the acquisition of Radius Bank in February 2021. At that time, in addition to the direct-to-consumer deposit business, we inherited a fintech partner program, and several lending businesses. As we reach the one-year anniversary of the acquisition, and in conjunction with the conclusion of a strategic review of our business operations, we have made the decision to discontinue certain businesses that don’t fit our mission.
Related FAQ's
No. Additional deposits cannot be made to a CD following the initial deposit until the CD matures.
Once the minimum opening deposit is met, there is no monthly minimum balance requirement to maintain your account
There is no minimum balance required to earn interest in your savings account. At the end of each month, the interest payment will be deposited into your account.
The goal of a CD is to lock in a fixed rate at the time of purchase for a fixed time horizon, and therefore, to get the most benefit from the CD purchase, you are going to want to remain in the product for the entire term, whether it is a 6 month, 1 year or 5 year CD.
There are no monthly maintenance, overdraft, or NSF fees for your account.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.