Earn 4.20% APY While You Sleep With This Set-and-Forget Savings Account
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I've reviewed dozens of savings accounts this year, and the LendingClub LevelUp Savings account is my top pick.
Not only did it win our Motley Fool Money 2025 Best High-Yield Savings Account award, but it also earns 4.20% APY with $250+ in monthly deposits.
Here's why I think it's one of the smartest set-and-forget accounts available right now.
Earning 4.20% APY while you sleep
The LendingClub LevelUp Savings account has one of the highest APYs available right now.
To earn the full 4.20% APY, you just need to deposit $250 or more each month (that's cumulative, not all at once). There's no minimum to open and no ongoing balance requirement to keep the high rate.
That means even if you're starting from zero, this account rewards consistency over size. It's designed to help you build the habit of saving, without thinking about it.
Once that recurring deposit is set up, you can sit back and relax while your balance grows on autopilot. It's the definition of set-it-and-forget-it.
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LendingClub LevelUp Savings
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- Competitive APY
- No fees
- Easy ATM access
- Unlimited number of external transfers (up to daily transaction limits)
- Requires you to make monthly deposits to earn the best APY
- ACH outbound transfers limited to $10,000 per day for some accounts
- No branch access; online only
The LendingClub LevelUp Savings account has a lot to offer. At the top of the list is its high APY, though you must deposit monthly to earn the best rate. Next is zero account fees, a strong and straightforward perk. Finally, you get a free ATM card, which you can use to withdraw from thousands of ATMs nationwide. Interested? You can open an account with $0.
Rare perks for a high-yield savings account
Many high-yield savings accounts (HYSAs) focus on the rate only -- and strip away everything else.
But LendingClub is really different, offering features you rarely see in the HYSA world.
Here are a few things that standout:
- No monthly fees or maintenance charges
- Free ATM access with a linked debit card (super rare for HYSAs)
- Unlimited external transfers, subject to transaction limits
- FDIC insured up to $250,000 through LendingClub Bank, N.A.
What I love most is the practical access to your cash. If you ever need money in a pinch, you can stroll down to the nearest ATM and withdraw some.
Of course, the goal isn't to treat this like a checking account -- it's to build up your savings for short-term goals.
It's a great place to keep emergency funds, travel savings, or even just your monthly buffer.
Why consistency wins
The 4.20% APY with $250+ in monthly deposits is great, but what really matters is how easy this account makes it to save regularly and stick with it.
It literally forces you to build an ongoing savings habit.
And once it's set up, all you need to do is remain patient and go about your normal life. Your account will grow in the background.
For example, let's say you deposit $500/month and never touch it. After 12 months, here's what that looks like:
| Month | Balance | Interest Earned |
|---|---|---|
| 1 | $500 | $1.75 |
| 6 | $3,000 | $36.27 |
| 12 | $6,000 | $135.64 |
You won't get rich overnight. But that's not the goal. It's about creating a consistent money-saving system that actually works.
Set it up, forget it, and then wake up after a year with over $6,000 in savings.
Is LendingClub LevelUp Savings for you?
If you've got $250/month you can comfortably set aside, this account is one of the easiest wins in personal finance.
And since there are no account fees or minimums, there's very little downside to opening an account and giving it a try.
You'll naturally set aside more money, all while earning a top APY
Read our full LendingClub LevelUp Savings review here to learn more and start growing your savings today.
Our Research Expert
Joel O’Leary is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, mortgages, and other personal finance topics. Joel has been writing about personal finance since 2018, previously leading editorial content for the How To Money podcast and serving as a resident writer at Budgets Are Sexy. He bought his first rental property at age 18, funding the down payment with savings from his high school job at McDonald’s -- a testament to his lifelong passion for smart money decisions. His work aims to make personal finance accessible and actionable for everyday readers. When he’s not writing, Joel enjoys surfing and spending time with his family.