I'm currently saving up for a home, and I keep most of that down payment fund in a high-yield savings account with LendingClub. The rate's solid, it's easy to access, and I like the flexibility while I wait for the right place.

But I've also got another stash of savings set aside -- money I'll use for moving expenses and furnishing the new place once I finally close.

That's why I opened a LendingClub CD.

Back in August 2024, savings rates were starting to dip, and it felt like the writing was on the wall. I knew I didn't need this second pot of money for at least 10 months, so I figured why not lock in a higher return while I could?

Our Picks for the Best High-Yield Savings Accounts of 2025

Product	APY	Min. to Earn
American Express® High Yield Savings Member FDIC. APY 3.70% Rate info 3.70% annual percentage yield as of April 18, 2025. Terms apply. Min. to earn $0 Open Account for American Express® High Yield Savings On American Express's Secure Website. Member FDIC.	3.70% Rate info 3.70% annual percentage yield as of April 18, 2025. Terms apply.	$0	Open Account for American Express® High Yield Savings On American Express's Secure Website.
CIT Platinum Savings Member FDIC. APY 4.10% APY for balances of $5,000 or more Rate info 4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY Min. to earn $100 to open account, $5,000+ for max APY Open Account for CIT Platinum Savings On CIT's Secure Website. Member FDIC.	4.10% APY for balances of $5,000 or more Rate info 4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY	$100 to open account, $5,000+ for max APY	Open Account for CIT Platinum Savings On CIT's Secure Website.
Barclays Tiered Savings Member FDIC. APY 4.10% Rate info Balances less than $250,000 earn 4.10%, and balances greater than $250,000 earn 4.30%. Min. to earn $0 Open Account for Barclays Tiered Savings On Barclays' Secure Website. Member FDIC.	4.10% Rate info Balances less than $250,000 earn 4.10%, and balances greater than $250,000 earn 4.30%.	$0	Open Account for Barclays Tiered Savings On Barclays' Secure Website.

Why I chose LendingClub

I'd been a LendingClub customer for years, so it was an easy decision. They had some of the most competitive CD rates, and I didn't have to jump through a bunch of hoops to open the account. I went with a 10-month CD and dropped in $20,000 -- enough to furnish a couple of rooms and cover the inevitable costs that come with moving.

LendingClub CDs have a $500 minimum deposit and term lengths ranging from six months to five years. Interest compounds monthly, and you can withdraw it as you go if needed, but I'm letting mine grow untouched.

Is a high-yield savings account better?

The answer depends on how soon you'll need your money. The LendingClub LevelUp Savings account is still my go-to for my down payment fund -- it gives me a competitive rate and the flexibility to pull money out at any time. But that rate can fluctuate.

If your timeline is more defined and you're confident you won't need to touch the money for a while, a CD can earn you more without the guesswork. I personally use both: savings for flexible goals, CDs for fixed ones. To find a savings account that works for you, check out our list of the best high-yield savings accounts.

A smart move before rates drop more

Rates have only gone down since I opened the CD, and with more cuts on the horizon, I'm glad I locked in when I did. CDs won't make you rich overnight, but if you've got money just sitting around, it's time to put it to work in a way that doesn't require daily micromanaging.

Even better, I didn't have to choose between flexibility and returns. I still keep my down payment in my LendingClub LevelUp Savings account, where I can access it anytime. But for money I know I won't need right away, the CD gives me a better rate and some peace of mind.

Ready to lock in your rate?

Not every dollar in your savings needs to be liquid. If you're juggling multiple financial goals or have future expenses you can plan around, CDs are a low-risk way to earn a little more while doing absolutely nothing.

It's not the flashiest move I've ever made with my money, but honestly? It's one of the smartest. If you've got extra savings set aside for future expenses, don't let it sit idle. Open a LendingClub CD today and start earning a guaranteed return.