Klarna Savings Account Review
- Annual Percentage Yield (APY)
- Up to
3.78%
Our verdict
This buy-now-pay-later app offers a savings account with a surprisingly high APY.
Klarna is a buy-now-pay-later (BNPL) app first and foremost, but it now offers a digital savings account. The savings account itself has no monthly fees or opening deposit requirements. Overall, we’d classify the Klarna savings account as a high-yield savings account (HYSA), offering up to 3.28% to 3.78% APY, depending on your membership and balance. But even with the free Core plan, you can earn up to 3.28% APY. To get the account, you will need the Klarna app and an account, but it’s rather accessible aside from that. However, like most digital accounts, you can’t deposit physical cash.
Pros
-
High APYs for all membership tiers
-
No monthly fees for savings account
-
Open up to three accounts
Cons
-
Best APY for Max plan ($44.99/mo)
-
No cash deposits
Who is the Klarna savings account best for?
Since you need the Klarna app and account to open this account, the Klarna savings account is already primed for Klarna customers. However, this account doesn’t have any monthly service fees or balance requirements to open, so anyone could get the Klarna app and apply.
What we like about the Klarna savings account
Klarna itself is not a bank, but its savings accounts are FDIC insured through its bank partner, WebBank.
It’s also worth knowing that the Klarna savings account has a few different APYs, depending on whether or not you’re paying for the Klarna membership and which tier you’re in. For all plan tiers and balances, interest is calculated daily and paid out monthly.
High APYs across the board
While Klarna offers slightly higher APYs if you’re in a paid membership, the account still offers a much higher APY than the national average of 0.38% APY, regardless of your balance or membership tier.
Klarna states that if you have a balance above $50,000, your APY may slightly decrease if you have a paid plan. We don’t see a drop in APY for the Core or Plus memberships at the time of writing, but the Premium and Max tiers do offer higher rates with a balance under $50,000.
| Plan and membership fee | Monthly fee | APY |
|---|---|---|
| Core membership | $0/mo | 3.28% APY |
| Plus tier | $4.99/mo | 3.28% APY |
| Premium tier | $19.99/mo | 3.28% APY (above $50,000) 3.48% APY (below $50,000) |
| Max tier | $44.99/mo | 3.28% APY (above $50,000) 3.78% APY (below $50,000) |
Other notable features
There are a few other cool things we wanted to call out about the Klarna savings account:
- You can open up to three Klarna savings accounts, and your total balance across the accounts is considered for the APY tiers.
- You can withdraw as many times as you want, since Klarna doesn’t restrict withdrawals to the typical six times per month like traditional accounts.
- Klarna accepts direct deposit into its savings accounts.
What could be better
Like most digital accounts, Klarna doesn’t offer customers a way to deposit physical cash, or accept deposits via credit card. However, you can add money via debit card, ACH transfers and Apple Pay.
So if you’re someone who needs to deposit cash regularly, Klarna’s savings account may not be the right fit for you.
Highest APY comes at a high cost
To get the highest 3.78% APY with Klarna, you’ll need the Max tier for $44.99/mo, and a balance under $50,000. To break even on that monthly fee, you’ll need to maintain a balance of around $14,500 with a 3.78% APY. That balance and rate earns around $45 in interest each month.
And as mentioned, the 3.28% APY is already offered with the free Core plan. In the long run, we just don’t think an extra 0.50% APY boost is worth paying $45 a month for. If you’re already paying for the Max tier with Klarna, then being able to access the highest APY is a bonus, but we wouldn’t recommend upgrading to the Max tier for the higher APY unless you’ve got over $14,500 ready to deposit.
On top of that, there are plenty of other HYSAs with no monthly fees if you’re after a rate that high.
Compare the Klarna savings account to other savings accounts
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How we picked theseWhat is the Finder Score?
The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.
Customer reviews and ratings
| BBB accredited | No |
|---|---|
| BBB rating | N/A |
| BBB customer reviews | 1.09 out of 5 stars, based on 368 customer reviews |
| Trustpilot score | 4.5 out of 5 stars, based on 547,074 customer reviews |
| Customer reviews verified as of | 17 June 2026 |
Klarna has both a Better Business Bureau (BBB) and Trustpilot profile that are verified and claimed. But since this savings account is new, the existing reviews are about Klarna’s cash advance product.
As with most financial companies on the BBB, the reviews are mostly negative. We read through multiple reviews, and to be fair, it’s hard to distinguish what the complaints are about. Some say their payments weren’t going through because of card issues, another said they used Klarna to pay for something but never got the item, and many other reviews come from people requesting refunds.
On Trustpilot, reviews are glowing, with an impressive overall star rating. For the most part, customers say Klarna is convenient and great for splitting up large purchases, love the reminders of payment due dates, and many praise the multiple payment plan options. Many people also mention that they were going to miss a payment, but simply called and customer service was able to adjust it.
Overall, negative reviews on BBB are expected, and Klarna has earned a stellar rating on Trustpilot. We will revisit reviews for its savings account in the future.
Frequently asked questions
How do I add money to the Klarna savings account?
You have three options to add money to your Klarna savings balance: a Visa or Mastercard debit card, bank transfers via ACH, or Apple Pay.
Is Klarna a bank?
No, Klarna is still not a bank, even though it now offers a savings account. Deposits made in Klarna savings accounts are insured through its bank partner, WebBank.
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.
Sources
Your reviews
Bethany Finder
Banking editor
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