Please ensure Javascript is enabled for purposes of website accessibility

This device is too small

If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.

Skip to main content
Advertiser Disclosure Many of the offers that appear on this site are from companies from which The Motley Fool receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear) and may influence which products we write about, but our product ratings are not influenced by compensation. We do not include all companies or offers available in the marketplace.
    |    Accessibility Options

LendingClub CD Rates for 2024

Review Updated
Steven Porrello
Author: Steven Porrello
Steven Porrello
Steven Porrello
Writer

Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.

See Full Bio

| 2 others [ + ]
Cole Tretheway
Reviewer: Cole Tretheway
Cole Tretheway
Cole Tretheway

Cole Tretheway is a full-time personal finance writer whose articles have been featured on Motley Fool Money and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.

See Full Bio

Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

See Full Bio

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

LendingClub CD rates are better than many competitors'. LendingClub CDs are best for short-term savers who want some of the best APYs. Keep reading to find out what special perks you can get from LendingClub, plus how to leverage the bank's CDs to earn above-average returns.

LendingClub CD rates for 2024

Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Offer image for LendingClub CD
LendingClub CD
Bottom Line

LendingClub CDs don't skimp on interest, offering competitive APYs for all six of its CD terms, from six months to five years. They're also FDIC insured. One downside is that you'll need to commit at least $2,500 to open an account.

MINIMUM DEPOSIT $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

6 Mo. APY 10 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 5 Yr. APY
4.00% 4.25% 4.00% 3.75% 3.75% 3.50% 3.40%

Is a high-yield savings account a better option for you?

A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.

Account APY Promotion Next Steps
3.80%
Rate info Circle with letter I in it. 3.80% annual percentage yield as of December 27, 2024. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 4.00%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

Compare LendingClub CD rates

LendingClub CD rates are some of the best in the business right now, especially short-term rates. Take a look at how the competition's CD rates compare.

Rates as of Dec. 18, 2024
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 4.00% Term: 1 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 4.25% Term: 10 Months Min. Deposit:  $2,500
Open Account for

On Secure Website.

Member FDIC.
APY: 4.25% Term: 6 Months Min. Deposit:  $500
Open Account for

On Secure Website.

Overview of LendingClub CDs

LendingClub offers incredible rates on short-term CDs. You can choose from six terms ranging from six months to five years -- a standard spread of options. Interest you earn is credited to your account monthly, though you must wait until your CD matures to withdraw earnings.

Once you deposit money into your account, you can't deposit any more money (except for during the initial grace period).

Minimum Deposit $2,500
Range of Term Lengths Six months to five years
Compounding Schedule Monthly
Early Withdrawal Penalty 90 days of simple interest for CDs with terms one year or less; 180 days of simple interest for terms greater than one year
Grace Period 10 days
Data source: LendingClub

LendingClub CD pros and cons

LendingClub CDs combine two of our favorite traits, above-average rates and zero monthly fees. The biggest downside is you need upwards of a couple thousand dollars to open an account.

Pros

  • High APY
  • No monthly fees
  • Many terms to choose from

Cons

  • Large deposit minimum
  • Online only

How much can you earn with a LendingClub CD?

Interest rates change frequently. Right now, you can lock in historically high rates by opening a CD account.

Here's a table illustrating what potential earnings could look like if you deposited $1,000.00 into a LendingClub CD.

The numbers in the table below may not be accurate to current APYs and are for example purposes only.

Term APY Earnings
6 months 5.00% $25.26
10 months 5.20% $44.19
1 year 4.60% $46.98
1.5 years 5.00% $77.72
2 years 4.50% $93.99
5 years 4.00% $221.00
Data source: Author's calculations

Is a LendingClub CD safe?

Yes, it's safe to put your money in a LendingClub CD. The bank is FDIC insured, which means your money up to $250,000 is secure.

If LendingClub goes bankrupt, the FDIC will ensure you get your money back. The bank offers other security measures, including 256-bit encryption.

How to open a LendingClub CD

I went through the account opening process to find out what it's really like. Here are the steps I went through to open a LendingClub CD.

You can find the "Open Account" link above.

2. Select your desired CD term

Click "Apply Online" to start the application process.

2. Enter your personal information

You'll input your name, email address, and phone number. LendingClub will send you a confirmation email. Once confirmed, you'll enter your living and mailing address.

3. Verify your identity

You'll need your birthday, Social Security number, and job title.

4. Make a deposit

You must link a bank account to deposit $2,500 to $500,000. You can quickly login to your bank account through Plaid, or you can enter your bank and routing number to send the money.

Once you deposit, you'll have 10 days (the grace period) to add additional funds. The deposit should hit your account within three to five business days.

Who is a LendingClub CD right for?

LendingClub CDs may be right for short-term savers who want to lock in high rates. The bank offers better rates than many competitors, even in the current high-rate environment.

Bottom line: LendingClub CD rates

LendingClub CD
  • 6 APY: 4.00%
  • 10 APY: 4.25%
  • 12 APY: 4.00%
  • 18 APY: 3.75%
  • 24 APY: 3.75%
  • 36 APY: 3.50%
  • 60 APY: 3.40%
Show All Rates [+] Hide All Rates [-]
Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Term
LendingClub CD
6 Mo.
10 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
5 Yr.
4.00%
4.25%
4.00%
3.75%
3.75%
3.50%
3.40%

Keep reading about LendingClub

Our CDs methodology

At Motley Fool Money, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • The minimum deposit is $2,500.

  • There is an early withdrawal fee if you withdraw money after your 10-day grace period and before your CD term expires.

  • You can close your CD early, but it'll cost you early withdrawal fees unless you cancel within the 10-day grace period. Since your CD is set to automatically renew upon maturity, you may save money by contacting LendingClub before your CD matures to cancel auto-renewal.