- Up to 9.41% APY
- No lockup periods or staking required
Not so great for
- Approval takes 3 to 5 five business days
- Only one free withdrawal a month
Hodlnaut is a Singapore-based crypto savings account that offers up to 9.41% APY on a range of supported assets. But the account only allows one free withdrawal per month.
Here’s a quick look at Hodlnaut’s standout benefits and shortcomings.
Up to 13.86%
Hodlnaut currently supports the following cryptocurrencies: BTC, ETH, USDT, USDC, DAI and WBTC.
Hodlnaut is best for those in India who already own crypto because you need it to fund your Hodlnaut account. Unlike other crypto savings accounts like Crypto.com, there’s no way to directly deposit fiat currency (e.g. INR or USD) into this account. Also, you can’t buy or sell crypto on Hodlnaut’s platform, but you can convert your assets to any of the 6 supported cryptocurrencies it supports, including Bitcoin and Ethereum.
With Hodlnaut, you can deposit and withdraw your digital assets at any time — but you only get one free withdrawal per month. Additional withdrawals will be charged a variable fee. While this is the only fee Hodlnaut charges, other crypto savings accounts let you withdraw funds as often as you’d like without charging a fee.
Hodlnaut also offers flexible earn options, with both open- and fixed- terms available for you to maximise your gains according to your preference.
To earn interest with Hodlnaut in India, you must first transfer any of the 6 supported cryptocurrencies from your crypto wallet or exchange into your account. Hodlnaut provides you with a unique deposit address depending on which form of crypto you transfer into your account.
By default, deposits into your Hodlnaut account are open-term. This means your APY has nothing to do with the length of time your assets are in the account, and you can withdraw any or all of your assets at any time.
Hodlnaut offers tiered interest rates that depend on the type and amount of crypto in your account. Your interest is calculated daily, and it’s paid out on Mondays. The tiered rates work similarly to traditional tiered savings accounts, where your rate is determined by a specific threshold balance. For instance, if you have 1.5 BTC in your account, the first 0.1 BTC earn 5.33% APY and the next 1.4 BTC will earn 3.04% APY.
Here’s how Hodlnaut’s open-term interest rates are broken down by cryptocurrency, as of 1 June 2022:
|1||First 0.1 BTC||5.20%||5.33%|
|2||Next 1.4 BTC||3.00%||3.04%|
|3||Next 1.5 BTC||2.50%||2.53%|
|4||Above 3 BTC||1.30%||1.31%|
|1||First 0.1 WBTC||5.20%||5.33%|
|2||Next 1.4 WBTC||3.00%||3.04%|
|3||Next 1.5 WBTC||2.50%||2.53%|
|4||Above 3 WBTC||1.30%||1.31%|
|1||First 100k USDC||9.00%||9.41%|
|2||Next 400k USDC||3.00%||3.04%|
|3||Next 500k USDC||0.50%||0.50%|
|4||Above 1M USDC||0.10%||0.10%|
|1||First 100k USDT||9.00%||9.41%|
|2||Next 400k USDT||3.00%||3.04%|
|3||Next 500k USDT||0.50%||0.50%|
|4||Above 1M USDT||0.10%||0.10%|
|1||First 25k DAI||4.00%||4.07%|
|2||Next 75k DAI||2.50%||2.53%|
|3||Next 400k DAI||1.50%||1.51%|
|4||Above 500k DAI||0.05%||0.05%|
To demonstrate how Hodlnaut’s tiered-interest rates work, here’s a breakdown of how much interest you could earn in a year if you deposit 600,000 USDT into your account.
|Portion of your balance||APY||Interest earned on portion in 1 year|
|1 USDT to 100k USDT||9.41%||9,286.14 USDT|
|100,001 USDT to 500,000 USDT||3.04%||12,112.37 USDT|
|500,001 UST to 1M USDT||0.60%||509.49 USDT|
|~ 21,908 USDT — Total interest earned in 1 year|
The potential amount you’d earn in one year is about 21,908 USDT – if you don’t include additional contributions or consider the interest you earn as your balance increases over time. Also, if your deposited USDT balance exceeds 500,000 USDT, the amount you’d earn for that portion is only 0.60% APY.
In addition to its open-term deposits, Hodlnaut also gives you the option to earn simple interest (APR) on any balance for a fixed time. It works similarly to a traditional certificate of deposit (CD), where your interest rate depends on which term length you choose. This option only makes sense if you have a Tier 3 or Tier 4 balance with any of your held cryptocurrencies. Otherwise, you’d earn more interest with an open-term deposit. Hodlnaut’s fixed-term deposits don’t compound, and similar to traditional CDs interest, is paid on maturity. This means your earned interest is paid out at the end of your fixed term.
Here’s a breakdown of Hodlnaut’s APRs for fixed-term deposits of 30-, 90- and 180-days.
Note: Fees indicated in the table are accurate at the time of writing, 1 June 2022.
To earn Hodlnaut’s highest interest rates, you need to maintain balances below the following thresholds:
You get one free withdrawal each month, but it isn’t automatically applied to your account. Instead, you must check a box at the time of your withdrawal to avoid paying a fee.
If you don’t check the box to apply your free withdrawal — or you exceed one withdrawal per calendar month — expect to pay the fee that corresponds to the cryptocurrency you’re withdrawing:
|Cryptocurrency||Minimum withdrawal amount||Withdrawal fee|
|Bitcoin (BTC)||> 0.0004 BTC||0.0004 BTC|
> 10 DAI
|Ethereum (ETH)||> 0.0036 ETH||0.0036 ETH|
|USD Coin (USDC)||> 10 USDC||10 USDC|
|Tether (USDT)||> 10 USDT||10 USDT|
|Wrapped Bitcoin (WBTC)||> 0.0004 WBTC||0.0004 WBTC|
Note: Fees indicated in the table are accurate at the time of writing, 1 June 2022.
Here are some of the key benefits:
Before applying for a Hodlnaut account in India, make sure to look out for the following caveats:
Hodlnaut Pte. Ltd. has attained an in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for the grant of a Major Payment Institution license under the Payment Services Act 2019 for the provision of DPT services.
But like many other crypto savings accounts, Hodlnaut isn’t insured in India. It offers optional coverage through Nexus Mutual, a decentralised alternative to traditional insurance.
However, Nexus Mutual’s service isn’t free, and it’s not insurance. It’s also discretionary — which means that it’s up to Nexus Mutual whether it pays your claim.
Costs depend on the term length you choose (30 days, 90 days or 1 year) and the value of the assets you want to protect. If you opt in for coverage, you’re protected from hacks in which you lose more than 10% of your assets. You’re also compensated if you’re unable to withdraw assets from your Hodlnaut account for more than 90 days.
Aside from the optional Nexus Mutual coverage, Hodlnaut requires two-factor authentication by default. Hodlnaut hasn’t ever been hacked at the time of writing this review.
Hodlnaut earns 661 reviews on Trustpilot as of 27 May 2022, with an average rating of 4.8 out of 5 stars. Many reviewers praise the platform for its ease of use, security, and APY returns. Hodlnaut also has its own subreddit and Discord channel, where customers have shared overwhelmingly positive feedback about their experiences with Hodlnaut.
It takes about 10 minutes to apply for a Hodlnaut account and three to five days for approval.
Hodlnaut emails you once your account is open and ready for your first deposit.
You must be at least 18 years old to open an account with an email address and mobile phone number.
Provide personal and financial information that includes:
If you have questions or need help with your Hodlnaut account, you can get in touch with the team through:
There’s a lot to like about Hodlnaut — namely its APY, which is significantly higher than the national average APY for traditional savings accounts. However, there are many other crypto savings accounts in India that offer higher interest rates, but they do tend to require a high balance to earn the best APY.
Before applying, be sure to compare your options to find a crypto savings account that’s best suited to your needs.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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