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Happen Bank review spotlights 4.0% APY and no monthly fees
The bank, formerly LendingClub, says balances of at least $2,500 earn 1.0% APY and its savings yield depends on meeting a $250 per month deposit.
A new review of Happen Bank highlights its deposit and lending terms, noting the online bank was founded in 2007 and now serves more than 5 million members nationwide, after previously operating under the LendingClub name, according to Yahoo Finance.
For customers, the review says Happen’s LevelUp checking account offers unlimited 1.0% cash back on qualified purchases and 2.0% cash back for on-time personal loan payments, with no monthly maintenance or overdraft fees and no minimum balance or transaction requirements.
The review also describes Happen’s interest rates, including 1.0% APY on account balances of $2,500 or more, and a high-yield savings account that pays 4.0% APY when customers deposit at least $250 per month, with a still-higher-than-average 3.0% APY if they miss that threshold.
Happen is also described as offering CDs from six months to five years with a $500 minimum opening amount, personal loans up to $75,000 with APRs ranging from 5.96% to 35.96%, and small-business lending connections through a partnership with Accion Opportunity Fund, according to the Yahoo Finance review.