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Affirm Savings
Minimum deposit to open

Our verdict

Enjoy no fees and a competitive 3.5% APY you can convert into Bitcoin.

The Affirm Savings 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.

This Affirm Savings account features a competitive 3.5% APY, zero fees and the option to convert all the interest you earn into Bitcoin.

However, 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.


  • $0 fees or minimum balances
  • Competitive interest rate
  • Convert interest into Bitcoin
  • Unlock cash back on purchases
  • Automatic transfers


  • Crypto feature isn’t widely available
  • One way to access money
  • No checking account

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

The Affirm Savings account is an excellent choice if you already use this buy now, pay later (BNPL) service for shopping. It’s FDIC-insured through Cross River Bank and has no fees or minimum balances. Plus, you have the option to earn cash back and convert your savings account interest into Bitcoin.

How do I open an Affirm Savings account?

Apply for the savings account through the Affirm app in minutes:

  1. Go to the provider’s site and follow the steps to apply.
  2. Choose Open a savings account.
  3. Enter your mobile number and hit Continue.
  4. Enter your verification code.
  5. Enter your name and email address and Continue.
  6. 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.

What are the benefits of an Affirm Savings account?

  • $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 0.45%.
  • 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.

What should I look out for?

  • 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.

Compare with other savings accounts

Narrow down top savings accounts by APY, fees or minimum deposit to see how Affirm Savings compares.

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1 - 6 of 29
Name Product Account type Annual Percentage Yield (APY) FDIC or NCUA insured amount Minimum balance to earn interest Minimum deposit to open Offer Estimated total balance
BrioDirect High-Yield Savings
Finder Score: 4.4 / 5: ★★★★★
BrioDirect High-Yield Savings
Traditional savings


Up to $250,000
Western Alliance HYSA through Raisin
Finder Score: 4.7 / 5: ★★★★★
Western Alliance HYSA through Raisin
Traditional savings


Up to $250,000
SoFi Checking and Savings
Finder Score: 4.6 / 5: ★★★★★
SoFi Checking and Savings
Traditional savings,Checking




Up to $250,000
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until December 31, 2024.
Barclays Online Savings
Finder Score: 4.3 / 5: ★★★★★
Barclays Online Savings
Traditional savings


Up to $250,000
Step Black Card
Finder Score: 4.3 / 5: ★★★★★
Step Black Card
Savings app


Up to $1 million
Bask Bank Interest Savings Account
Finder Score: 4.6 / 5: ★★★★★
Bask Bank Interest Savings Account
Traditional savings


Up to $250,000

How do I deposit or withdraw my money?

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.

Frequently asked questions

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:

  1. Make sure your account balance is $0 by transferring any remaining money to your external account.
  2. 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.

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