Affirm Savings Review
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- Annual Percentage Yield (APY)
-
3.85%
- Fee
- $0
- Minimum deposit to open
- $0
Our verdict
Earn a competitive 3.85% without paying any account or overdraft fees.
Affirm is a company that offers "buy now, pay later" (BNPL) services for online purchases, but it also has a deposit account called the Affirm Money account with a pretty competitive yield. The Affirm Money account is an excellent choice for Gen Z and millennials who already use Affirm to shop for deals or take advantage of its BNPL service. It features a competitive 3.85% APY, zero fees and no minimum deposit requirements. That said, Affirm is a BNPL service at its core. And if you tend to spend more than you’d like, keeping your savings with a company that encourages spending could backfire down the road.
Best for: Savers who want a simple high-yield account with no fees or minimums.
Pros
-
$0 fees or minimum balances
-
Competitive interest rate
-
Comes with a debit card
-
Get paid up to two days early when you set up direct deposit
Cons
-
One way to access money
-
No branch access
Who is the Affirm Money account best for?
The Affirm Money account could work well for people who are comfortable with online-only banking and want to earn a solid interest rate without maintaining a minimum balance.
However, Affirm is mainly a BNPL app — it’s not meant to be an all-in-one banking solution. But if you already use Affirm for purchases and like the idea of keeping your spending and savings in one place, it could be a convenient option.
What we like about the Affirm Money account
The Affirm Money account is pretty simple and standard, with a few standout perks that make it worth considering.
No fees or minimum balance
The Affirm Money account is as simple as they come. There are absolutely no fees or minimum balances required to open an account or earn interest.
Competitive APY
The 3.85% APY is well above the national average ( 0.40%), which puts it in line with some of the best high-yield savings accounts on the market.(1)
Comes with a debit card
The Affirm Money account also comes with a debit card you can use to access your money. So with this account, you’ll get the benefits of a savings account with the flexibility of a checking account.
Where it falls short
The Affirm Money account has a lot going for it, but it’s not perfect.
You can only move money in and out through a linked bank, which means no ATM withdrawals, no mobile check deposits and no way to add cash. Transfers typically take one to five business days before funds are available, which can be quite inconvenient if you need quick access.
And though the 3.85% APY is pretty solid, some online banks offer even higher rates along with extra features like savings buckets or certificates of deposit. And because Affirm isn’t a full-service bank, it may not be the best fit if you want all your banking needs in one place.
Customer reviews and ratings
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.17 out of 5 stars, based on 1305 customer reviews |
| Trustpilot score | 2.6 out of 5 stars, based on 6,937 customer reviews |
| Apple App Store Score | 4.9 out of 5 stars, based on 1,600,000 customer reviews |
| Google Play Score | 4.8 out of 5 stars, based on 434,800 customer reviews |
| Customer reviews verified as of | 18 August 2025 |
Even though Affirm has an A+ rating from the Better Business Bureau (BBB), it has poor customer reviews on its profile. Many negative reviews were about surprise charges, trouble canceling and long waits to get help from customer service. That said, the majority of these complaints were targeted at Affirm’s BNPL service and not its Money account.
Affirm’s score is slightly better on Trustpilot, but still leans negative. Complaints are similar, with most grievances related to billing issues, poor communication and accounts getting charged after customers thought they’d canceled.
What do people on Reddit say?
Frequently asked questions
Is Affirm safe to save money?
Yes. Affirm Money accounts are held by and FDIC-insured through its partner bank, Cross River Bank.
How good is an Affirm Money account?
The Affirm Money account is a pretty solid way to earn interest on your money without paying fees. You can earn a competitive 3.85% APY without needing to meet minimum deposit requirements.
How does the Affirm Money account work?
When you deposit money into your Affirm Money account, your interest is compounded daily and is calculated using the daily balance method. On the last day of each month, Affirm will credit your account with the interest that accrued during the month.
Sources
Your reviews
Jamela Finder
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