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Radius Bank High-Yield Savings account review

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Earn up to 0.25% interest with this account.

The Radius Bank High-Yield Savings account offers no monthly maintenance fees and you’ll earn a higher interest rate the more you keep in your savings account. But with only one Boston-area bank branch, expect to do all of your banking online and over the phone.

Up to 0.25%





Minimum deposit to open


APY0.25% on balances of $25,000+
0.15% on balances of $2,500 to $24,999.99
0.05% on balances of $10 to $2,499.99
Minimum deposit to open$100
Minimum balance to earn interest$2,500
Interest compoundingDaily
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Expert review

Heather Petty

Review by

Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.

Expert review

If you’re comfortable with online-only banking for your savings account, the Radius Bank High-Yield Savings account offers minimal fees and limitations that you may find at other banks.

But its highest rate is at 0.25%, which is not as high as what you’ll find at other banks. Plus, you’ll need to keep a balance of $25,000 or more to earn the rate.

How do I open a Radius Bank High-Yield Savings account?

Open a Radius Bank High-Yield Savings account in five steps:

  1. Click Apply now.
  2. From Radius Bank’s website, enter your name, email and phone number and select whether or not this will be a joint account. Click Continue.
  3. Enter your address. Click Continue.
  4. Enter your birth date, Social Security number and any special promotional code. Create a security phrase and confirm you’re a US citizen or resident. Click Continue.
  5. Select your current bank and then sign in so that you can transfer at least $100 into your new Radius account. Optionally, you can choose to use your debit card to transfer funds.
  6. Submit your information to open the account.


You must meet the following requirements to sign up for a Tailored Checking account:

  • US citizen or resident
  • Valid Social Security number
  • Valid bank account
  • At least 18 years old

Required information

When you’re ready to apply, have the following information on hand:

  • Full name
  • Email address
  • Phone number
  • Residential and mailing addresses
  • Date of birth
  • Social Security number
  • Bank information or debit card to fund the account

What are the benefits of a savings account with Radius Bank?

The Radius Bank High-Yield Savings account offers a mobile app with custom alerts along with the following perks:

  • Minimal fees. You won’t pay monthly service, ATM and transfer fees.
  • Free ATM card. Every savings account comes with a free ATM card and no withdrawal limits.

What should I look out for?

Before you apply for an account with Radius Bank, keep the following in mind:

  • Low interest. You’ll need to have $25,000 or more to earn 0.25% APY — a rate lower than the competition.
  • Limited branches. Radius only has one branch office in Boston, so anyone outside that area is forced to do all of their banking online.
  • Required deposit. While there is no minimum balance requirement, you’ll need to deposit at least $100 to open the account.

If you want a high-yield savings account that doesn’t require a high balance, you’ll want to keep looking. As always, compare your options when considering a savings account.

Compare with other savings accounts

Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned
American Express® High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
Axos Bank High Yield Savings
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
Aspiration Spend & Save Account

1.00% on $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0 per month or $7 per month for Aspiration Plus ($5.75 per month if you pay annually)
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
CIT Bank Money Market
A savings account with a higher-than-average rate and minimal fees.
SoFi Money
SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.
Chase Savings
$5 per month
(can be waived)
A simple savings account with low, waivable monthly fees and a $150 signup bonus when you meet deposit and balance requirements.

Compare up to 4 providers

How do I deposit or withdraw my money?

You have several options to deposit and withdraw your money with Radius Bank:


  • Mobile check deposit
  • Direct deposit
  • Transfer from another bank account
  • Wire transfer
  • By cash or check at an ATM


  • ATMs
  • Check addressed to yourself
  • Transfers to other bank accounts
  • Mobile wallet
  • Mobile bill pay
  • Mobile payments to individuals
  • Wire transfer

What other account options does Radius offer?

High-Yield Savings is currently the only savings account offered by Radius, but the following personal checking options are available:

  • Rewards checking. A free checking account that allows you to earn interest on your standing balance and cashback rewards on everyday purchases.
  • Superhero checking. Earn 0.5% APY on balances of $2,500 or more and donate your monthly matched interest amount and 1% of your total debit card purchases to the March of Dimes.
  • Essential account checking. A second-chance account with built-in deposit and spending limits to help you rebuild your financial record.

Frequently asked questions

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