Apply for the savings account through the Affirm app in minutes:
- Go to the provider’s site and follow the steps to apply.
- Choose Open a savings account.
- Enter your mobile number and hit Continue.
- Enter your verification code.
- Enter your name and email address and Continue.
- Enter your birthdate and the last four digits of your Social Security number, and Create account.
Eligibility and required information
You must be at least 18 years old and a US resident with an existing bank account to apply.
Expect to provide your:
- Full name.
- Email address.
- Date of birth.
- Social Security number.
- Funding bank account details.
- $0 fees or minimum balances. Affirm’s savings account is as simple as they come. There are absolutely no fees or minimum balances required to open an account or earn interest.
- Competitive interest rate. Affirm showers customers with a lavish 3.5% APY at a time when the national average sits at under 0.10%.
- Convert interest into Bitcoin. Opt into Affirm Crypto to automatically convert your interest to Bitcoin. You can also buy Bitcoin with your savings balance.
- Unlock cash back on purchases. Shop at select merchants with Affirm to earn a cashback bonus in your savings account.
- Automatic transfers. Put savings on autopilot by setting up a weekly or monthly schedule for automatic deposits into your Affirm Savings account.
- Crypto feature isn’t widely available. You can’t use Affirm Crypto if you live in Hawaii, North Carolina or the US territories of American Samoa, the Northern Mariana Islands or the US Virgin Islands.
- One way to access money. The only way to deposit or withdraw cash from Affirm Savings is with an externally linked bank account.
- No checking account. You won’t find any other bank accounts at Affirm. While it does have a Debit+ card, it isn’t tied to a checking account. You just link the card to an existing bank and use it to split purchases.
If Affirm Savings isn’t quite what you’re looking for, explore other high-yield savings accounts.
Narrow down top savings accounts by APY, fees or minimum deposit to see how Affirm Savings compares.
As with most online bank accounts, the only way to add or withdraw money is through a linked bank account. Affirm Savings doesn’t accept wire transfers, check deposits or ATM withdrawals.
Link up to five external accounts at a time to your Affirm Savings account.
Is the Affirm Savings account legit?
Yes, Affirm Savings is a legit account that’s safe to use. It’s FDIC-insured for up to $250,000 through Cross River Bank. This means you’ll get your money back if Affirm shuts down its savings account program.
Affirm employs the latest firewalls and data encryption to keep your information safe. You connect any external bank accounts through Plaid, which more than 11,000 banks and credit unions use nationwide.
How do I close my Affirm Savings account?
Close your Affirm Savings account in two steps:
- Make sure your account balance is $0 by transferring any remaining money to your external account.
- Complete Affirm’s Account Closure form.
Affirm processes your request in three to five business days.
Is the Affirm Savings account better than Chime?
It depends on what you’re seeking. Affirm is good for crypto rewards and earning cash back on Affirm purchases. Chime Savings is good to keep your checking and savings under one roof, using tools like debit card roundups and automatic transfers to reach your goals.
Savings account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.
Read the full methodology of how we rate savings accounts.