LendingClub Bank CD Review (2026) — The Fintech That Became a Bank
Quick take: LendingClub (NYSE: LC) became a federally chartered bank in February 2021 when it acquired Radius Bank for $185 million. ~$10B in assets today, FDIC cert #57359. CD rates are competitive but not market-leading: 4.40% on the 1-year, $2,500 minimum is higher than most online competitors.
Current rates (LendingClub Bank, as of June 2026)
| Term | APY | Minimum |
|---|---|---|
| 1-year CD | 4.40% APY | $2,500 |
| 18-month CD | 4.30% APY | $2,500 |
| 2-year CD | 4.20% APY | $2,500 |
| 3-year CD | 4.00% APY | $2,500 |
| 4-year CD | 3.90% APY | $2,500 |
| 5-year CD | 3.85% APY | $2,500 |
Rates verified against LendingClub Bank's public rate sheet on the publication date and change frequently. Confirm current APYs directly with the bank before opening an account.
Who LendingClub Bank is
LendingClub (NYSE: LC) launched in 2007 as a marketplace platform connecting personal-loan borrowers to investors. In February 2021 it closed the acquisition of Radius Bank, becoming a federally chartered bank under the name LendingClub Bank, N.A. (FDIC cert #57359). The acquisition transformed LendingClub from a loan-marketplace fintech into a balance-sheet lender funded by FDIC-insured deposits.
As of mid-2026 the bank holds roughly $10 billion in assets. The strategy shift from marketplace to balance-sheet lender means LendingClub now needs sticky deposit funding — hence the consumer CD and high-yield savings products.
How LendingClub's CD rates have moved
LendingClub's CD pricing tends to track the average online-bank rate, not the top. The 1-year at 4.40% matches Marcus and Bread but loses to BrioDirect (4.85%), BMO Alto (4.75%), Bask (4.85%), and Live Oak (4.60%).
The high $2,500 minimum is a real friction point for small ladder-builders. Most online banks settle at $0-$1,500 minimums.
What we like about LendingClub Bank CDs
- Real bank charter since 2021 — not a fintech sleeve over a sponsor bank
- FDIC-insured at the LendingClub Bank, N.A. level
- Parent (LendingClub Corp.) is publicly traded (NYSE: LC) with transparent SEC reporting
- Same online platform supports their personal-loan business if you ever want to borrow
- Clean, modern web/mobile experience inherited from the LendingClub fintech roots
What we don't
- $2,500 minimum is the highest in this review set — bad for small ladders
- 1-year rate (4.40%) is matched-or-beat by most competitors
- 5-year rate (3.85%) is one of the weakest in this review set
- Bank is small (~$10B assets) and the parent's earnings have been volatile through the rate cycle
- Limited CD term variety — no 3-month or 6-month CDs as of June 2026
How LendingClub Bank CDs compare vs peers
If this rate is on your shortlist, you should also be pricing:
| Competitor | Term | APY |
|---|---|---|
| Marcus by Goldman Sachs | 1-year CD | ~4.40% APY |
| BMO Alto | 1-year CD | ~4.75% APY |
| Live Oak Bank | 1-year CD | ~4.60% APY |
| Synchrony Bank | 5-year CD | ~4.35% APY |
| Top A-rated MYGA carrier | 5-year MYGA | ~5.65% guaranteed |
Internal benchmarks: Best 5-Year CD Rates 2026 · Best 1-Year CD Rates 2026 · Online vs Brick-and-Mortar CDs.
When a MYGA beats this LendingClub Bank CD
LendingClub's 5-year at 3.85% is the weakest in this review set against MYGAs. Compare $250,000 over 5 years:
- LendingClub 5-yr CD at 3.85%: $250,000 grows to $302,476 (taxable annually)
- A-rated 5-yr MYGA at 5.65%: $250,000 grows to $329,251 (tax-deferred)
- Pre-tax delta: $26,775 in favor of the MYGA
That's nearly 11% of starting principal in extra growth, plus the tax-deferral benefit. The LendingClub 5-year is one of the easier CDs to recommend AGAINST when there's a competitive MYGA in the comparison set.
LendingClub Bank CD FAQ
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Bottom line
LendingClub Bank is a real chartered bank with FDIC backing, but the CD rates don't justify the high $2,500 minimum — you can do better at almost every major competitor. The 5-year at 3.85% is particularly weak vs both CD and MYGA alternatives. Skip unless you specifically want the LendingClub ecosystem.
About Hans Goldstein: Independent retirement income specialist. CA Life License #4163961. NPN #20602398. Reviews 30+ carriers and tracks bank CD rates weekly. Phone: 213-414-2808. Email: hans@goldsteinco.net.
Disclosure
This review reflects publicly available bank rate sheets and approximate APYs as of the date stated above. CD rates change frequently — sometimes weekly — and the rates above may be stale by the time you read this. Always confirm current rates and terms against the bank's current rate sheet and disclosure documents before opening an account. FDIC insurance covers $250,000 per depositor, per insured bank, per ownership category; deposits above that amount at a single bank are not insured. This article is general information for educational purposes; it is not personalized financial advice, a solicitation, or an offer of any specific product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) and is not a bank, deposit broker, or registered investment adviser. CDs are bank deposit products and are not sold by insurance producers; references to CDs are for comparison context only. MYGAs (multi-year guaranteed annuities) are insurance contracts, subject to surrender charges and state guaranty fund coverage rather than FDIC. Early withdrawal of a CD before the maturity date typically results in a penalty that may exceed interest earned. Always read the actual deposit account agreement and consult a licensed advisor before making material financial decisions.