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LendingClub CD Rates: Current Offers and My Personal Experience

Review Updated
Brooklyn Sprunger
Author: Brooklyn Sprunger
Brooklyn Sprunger
Brooklyn Sprunger

Brooklyn leads the content team behind product reviews and ratings at Motley Fool Money, ensuring readers get well-researched, expert-backed insights to make smarter financial decisions. With nearly seven years working full-time in financial content -- four of them at The Motley Fool -- she has developed a deep passion for personal finance, from investing strategies to everyday money management. Her financial goals include buying a house and planning as many trips as her budget allows. In her free time, you’ll likely find her listening to a pop culture podcast or telling anyone who will listen to get a high-yield savings account.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
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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. APY = Annual Percentage Yield.

I opened a LendingClub CD in August 2024 after being a customer for three years. My high-yield savings rate was starting to slip, and I knew I needed to lock in a higher return while I still had the chance. Since then, both CD and savings account rates have continued to drop -- and all signs point to that trend continuing through 2025. If you're thinking about locking in a rate, now is the time.

Below, I'll walk you through my experience with LendingClub CDs and help you figure out if they're a smart move for you, too.

Current LendingClub CD rates and terms

Rates as of March 6, 2025

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 seven of its CD terms, from six months to five years. They're also FDIC insured, ensuring that deposits up to $250,000 are safe and secure.

MINIMUM DEPOSIT $500
Open Account for LendingClub CD

On LendingClub's Secure Website.

6 Mo. APY 10 Mo. APY 14 Mo. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 5 Yr. APY
4.00% 4.00% 4.10% 3.50% 3.50% 3.50% 3.40%

Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.

Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.

Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

Key features of LendingClub CDs

LendingClub CDs offer competitive rates, making our list of the top CD rates of 2025. Here are more details you need to know:

Minimum deposit $500
Range of term lengths 6 months - 5 years
Compounding schedule Monthly
Grace period 10 days
Data source: LendingClub.

Early withdrawal penalties and risks

LendingClub's website is pretty vague and confusing when it comes to early withdrawal penalties.

Here's what you need to know:

CD Opening Date Term Length Penalty
After May 31, 2023 1 year or less 90 days simple interest
More than 1 year 180 days simple interest
On or before May 31, 2023 Any term (current) No penalty if withdrawn early
After renewal Same as post-May 31, 2023 rules
Data source: LendingClub.

Monthly withdrawals of earned interest are allowed, which is fairly typical for a CD. However, accessing your principal (the amount you originally deposited) is only permitted at the bank's discretion and will likely come with an early withdrawal penalty. It's also important to note that if you withdraw funds after the 10-day grace period following maturity, you could be penalized.

Maturity and automatic renewal

LendingClub will mail you a reminder about 30 days before your CD matures. Once it matures, you'll have a 10-day grace period to withdraw your money or choose to renew (that's pretty standard across CDs). If you don't take action, your CD will automatically renew for the same term at the current rate.

This is one of the most important things to remember about CDs. If you miss that window, your money could be tied up for the same length of time again. And if you had a long-term CD, like five years, that can be a big deal.

Pros and cons of LendingClub CDs

Pros:

  • Competitive rates
  • No account fees

Cons:

  • Minimum deposit requirement ($500)
  • Limited short-term options
  • Online-only bank with no branch locations

How do LendingClub CD rates compare?

Rates as of March 6, 2025
Bank & CD Offer APY Term Min. Deposit Next Steps
Discover® Bank CD
Member FDIC.
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY:
4.00%
Term:
1 Year
Min. Deposit:
$0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

LendingClub CD
Member FDIC.
Open Account for LendingClub CD

On LendingClub's Secure Website.

APY:
4.00%
Term:
10 Months
Min. Deposit:
$500
Open Account for LendingClub CD

On LendingClub's Secure Website.

Western Alliance Bank CD
Open Account for

On Secure Website.

APY:
4.30%
Term:
6 Months
Min. Deposit:
$1
Open Account for

On Secure Website.

How to open a LendingClub CD

You can apply for a LendingClub CD right here from this page. The process is pretty straightforward, but here's what you need to know before you get started:

Who can apply

You'll need to meet the following requirements:

  • Be at least 18 years old
  • Have a taxpayer identification number
  • Provide a U.S. residential street address
  • Submit your legal name and date of birth
  • Be ready to deposit at least $500 to open the CD

Should you open a LendingClub CD?

LendingClub CDs could be a solid option if you're looking to lock in a competitive rate with no account fees and you're comfortable parking your money in an online-only bank for a set amount of time. The $500 minimum deposit is a little steep, but if you have the funds and want predictability, it's worth it for the slightly higher returns.

If you're ready to earn more on your savings with a fixed rate, open a LendingClub CD today.

Is a LendingClub High-Yield Savings account a better option?

That really depends on your savings goals. The LendingClub LevelUp Savings account offers flexibility and a strong rate, but keep in mind the rate can change over time. If you think you'll need access to your money or just prefer a more liquid option, the savings account could be the better fit. Or, more realistically, having both accounts could serve you well in different ways.

I personally use the LendingClub LevelUp Savings account for my home down payment since I'm planning to buy a house sometime this year, but I don't have a firm timeline. At the same time, I put $20,000 into a 10-month LendingClub CD for things I'll need after the move -- like furniture and other one-time expenses. Since that money isn't tied to an exact date, I'm happy earning a bit more in a CD.

If you're looking for a flexible place to grow your savings while keeping access to your funds, open a LendingClub LevelUp Savings account today.

FAQs

  • LendingClub offers a range of CD terms, but they don't have super short-term options (like 3 months), so it may not be a perfect place to ladder terms. It would be helpful to mix in CDs from other banks to build a fully staggered ladder.

  • Your account starts accruing interest as soon as your money is deposited, although your money is compounded and credited monthly.