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Compare SaveBetter’s savings and CDs

A digital storefront that powers savings products on behalf of its partner banks.

SaveBetter is a financial tech company that acts as a storefront where customers can access several banking products from one account. And although SaveBetter doesn’t own these financial products, it powers and manages them on behalf of its partner banks. That means you’re a SaveBetter customer — not a customer of its partner banks.

What banking products does SaveBetter offer?

SaveBetter offers savings accounts and CDs from these banks:

American First Credit Union

  • American First Credit Union Money Market account. Jumpstart your account with as little as $1 to earn a 4% APY
  • American First Credit Union CDs. Earn top-tier interest rates of 4.5% APY with a 12-month CD, 3.85% APY with an 18-month CD and a 4.65% APY with a 24-month CD.

Lemmata Savings Bank

  • Lemmata Savings Bank Money Market account. Get rewarded with a 3.95% APY without needing more than a $1 to open the account.
  • Lemmata Savings Bank CD. Earn an excellent 3.5% APY for a 9-month term with a 7-day window for withdrawing your money after the CD renews.

Liberty Savings Bank

  • Liberty Savings Bank High-Yield Savings account. Earn 4% APY on deposits as little as $1.

Patriot Bank NA

Ponce Bank

  • Ponce Bank High-Yield Money Market Deposit account. Earn 3.25% APY on your balance with this money market account from Ponce Bank, but it doesn’t come with an ATM card.
  • Ponce Bank CD through SaveBetter. Deposit as little as $1 to start earning 1.21% APY on an 11-month CD or 1.31% APY on a 13-month or 1.61% APY on a 48-month CD. Yet its most competitive terms are its 1-month CD at 4.5% APY and 6-month term with 4% APY.

Sallie Mae Bank

  • Sallie Mae Bank CDs. Open exclusive CD options with a 4.85% APY for 23 months and 5% APY for 27 months. You can also choose from no-penalty CDs with a 4.05% APY for 14 months and 4% APY for 10 months.

The State Exchange Bank

  • State Exchange Bank CDs. Deposit $1 to start earning 0.40% APY on a 4-month CD, 3% APY on a 7-month CD, 3.5% APY on a 9-month CD, 1.36% APY on a 24-month CD, 1.51% APY on a 36-month CD or 1.71% APY on a 60-month CD.

Compare accounts offered through SaveBetter

See how SaveBetter products compare against each other.

$
Name Product Annual Percentage Yield (APY) Minimum balance to earn interest Minimum deposit to open Offer Estimated total balance
Liberty Savings Bank High-Yield Savings
Finder Rating: 4.4 / 5: ★★★★★
Liberty Savings Bank High-Yield Savings

4.00%

$0
$1
$1,040.81
Earn 4% APY with no fees. This is 13.3x higher than the national average APY. Withdraw or add funds whenever you like.
mph.bank Money Market Deposit Account
Finder Rating: 4.6 / 5: ★★★★★
mph.bank Money Market Deposit Account

4.15%

$0
$1
$1,042.37
Deposits are FDIC insured through Liberty Savings Bank. It has no monthly fees. $1 minimum deposit.
American First Credit Union Money Market Account
Finder Rating: 4.2 / 5: ★★★★★
American First Credit Union Money Market Account

4.30%

$0
$1
$1,043.94
Earn a high 4.3% APY, which is 17.3x higher than the national average. No fees and only a $1 minimum deposit to open.
Lemmata Savings Bank Money Market Account
Finder Rating: 4.6 / 5: ★★★★★
Lemmata Savings Bank Money Market Account

3.95%

$0
$1
$1,040.29
Get a competitive 3.95% APY with a $0 monthly fee. Open with as little as $1.
Continental Bank High Yield Savings
Finder Rating: 4.3 / 5: ★★★★★
Continental Bank High Yield Savings

3.65%

$0
$1
$1,037.17
Continental Bank High Yield Savings account, offered through SaveBetter, has a $1 opening deposit and earns 0.45% APY.
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Compare up to 4 providers

Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Western Alliance Bank 12 months CDs through SaveBetter
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through SaveBetter
N/A
4.75%
N/A
$1
Get 4.75% APY on a 12 month CD, and earn an APY that’s 14.4x higher than the national average. Pay no fees and just a $1 minimum deposit.
Sallie Mae CDs through SaveBetter
Finder Rating: 4.7 / 5: ★★★★★
Sallie Mae CDs through SaveBetter
N/A
N/A
N/A
$1
Lock in strong CD rates as high as 5% APY on term lengths you'll only find through SaveBetter. Plus, you only need $1 to open and you have the option of opening a no-penalty CD.
Ponce Bank CD through SaveBetter
Finder Rating: 4.9 / 5: ★★★★★
Ponce Bank CD through SaveBetter
4.00%
N/A
N/A
$1
Snag the highest APYs on the market for the shortest CD terms via SaveBetter.
SkyOne CD
Finder Rating: 5 / 5: ★★★★★
SkyOne CD
N/A
4.20%
N/A
$1
$1 minimum deposit. 24/7 online access. Federally insured by NCUA.
State Exchange Bank CD
Finder Rating: 1.5 / 5: ★★★★★
State Exchange Bank CD
N/A
N/A
1.71%
$1
Locally-owned independent community bank. FDIC insured. No fees.
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Compare up to 4 providers

How does SaveBetter compare to accounts offered by banks

While SaveBetter doesn’t offer checking accounts or online bill pay, its savings accounts and CDs come with some perks and potential drawbacks.

Savings accounts

Pros

  • Low opening deposit. Open an account with $1.
  • No fees. Even if the partner bank typically charges a fee for that specific banking product outside of the SaveBetter platform, it won’t apply to you as a SaveBetter customer. Also, SaveBetter doesn’t charge any fees.
  • Interest compounded daily. You earn interest on your principal and previously earned interest every day.

Cons

  • No third-party apps. SaveBetter doesn’t support linking to third-party apps like Mint, even if the bank offering the same savings product allows it outside of the SaveBetter platform.
  • No deposits or withdrawals. Your account doesn’t have an account number, routing number or ATM cards like traditional bank accounts. To deposit or withdraw your money, you must initiate transfers to and from your external bank account.

CDs

Pros

  • Multiple providers. You can shop high-yield CDs from several different banks in one place, making it easier to compare rates.
  • No-penalty CDs. You can make one full withdrawal of your CD within seven days of opening without paying the early termination fee. No-penalty CDs are subject to availability.
  • Low opening deposit. While most CDs require $500 or $1,000 to open, CDs through SaveBetter only have a $1 opening deposit.

Cons

  • Not all terms available. Partner banks may offer more terms than what’s available on SaveBetter. For example, Ponce Bank offers CD terms as short as one month and as long as 60 months. While the Ponce Bank CDs available through the SaveBetter platform have a lower opening deposit, your CD choices are limited to 5-month, 13-month and 48-month terms.

Overall banking

Pros

  • One account. As a SaveBetter customer, you can manage all your banking products from multiple banks in one platform.
  • Apply online. Although most of SaveBetter’s partner banks require you to call or stop in a local branch to open an account, you can apply for the same savings product online from the SaveBetter platform.

Cons

  • Limited customer service. Since SaveBetter manages your account, you must reach out to SaveBetter if you have questions or concerns, which is only available by phone on weekdays from 9 a.m. to 4 p.m. ET or by email. Live chat is subject to staffing availability and may not always be available.

SaveBetter customer service

Contact SaveBetter support in three ways.

  • Call 844-944-3276 weekdays from 9 a.m. to 4 p.m. ET.
  • Live chat with a representative.
  • Email service@savebetter.com.

Bottom line

SaveBetter is a convenient platform that helps you manage several savings products from multiple providers in one place. You get competitive interest rates without the fees that the partner banks may charge outside of the SaveBetter platform. Plus, you can open an account with just $1.

But SaveBetter is best if you don’t need quick access to your cash. And unlike traditional money market accounts from banks, the SaveBetter platform doesn’t support ATM cards, direct deposits or mobile check deposits. The only way to access your cash is through ACH transfers to and from an existing bank account.

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