Raisin Savings Account Marketplace Review

Our verdict

Raisin, formerly known as SaveBetter, is a fintech marketplace for savings accounts. In short, Raisin partners with FDIC- and NCUA-insured financial institutions to offer savings accounts, money market accounts and CDs with exclusive perks, such as competitive rates, no fees, low deposits and unique terms. But if you’re looking for a business or checking account, you’re out of luck — Raisin only offers savings products.

Best for: Those who want to compare high-yield savings accounts and CDs.

Who is Raisin best for?

Raisin is a marketplace for savings products. If you’re undecided about which high-yield savings account (HYSA) or certificate of deposit (CD) you want to open, Raisin can be a great place to browse your options and compare rates.

What we like about Raisin

Raisin isn’t a bank — it’s a fintech company. It partners with dozens of banks and credit unions, all carrying deposit insurance, to offer exclusive rates on savings products.

It reports having over one million customers, and it works with over 100 financial institutions.

It doesn’t charge any fees

Comparing savings products on Raisin is free. You create a Raisin login to sign up, fund and manage savings products within Raisin’s bank and credit union network.

According to Raisin, there’s no fee to move funds among your Raisin savings accounts, either. However, you may lose some interest on earnings while the funds are in transit, but this drawback is common during any bank transfer.

High rates on savings products

Raisin offers a ton of high-yield savings account options — almost too many to count. The majority have rates significantly higher than national averages. The national average rate for a savings account is 0.38%, but we consistently see rates above 4% with Raisin’s offers. ⁽¹⁾

Arguably, the best part of getting a HYSA through Raisin is the lack of monthly fees and low deposit requirements. From what we’ve seen, the deposit requirement is just $1 to open various HYSAs, and we have yet to find any with monthly maintenance fees.

Compare top Raisin HYSAs

Narrow down top savings options by APYs, features and fees. For a closer comparison, tick the Compare box on multiple accounts to see their benefits side by side.

Exclusive high rates

Raisin partners with institutions to offer exclusive rates and account terms.

For example, Everbank is known for high-yield CDs on its own. Through the bank itself, there’s a 7-month CD term with a 4.00% APY, and a $1,000 minimum deposit. That’s not bad on its own, but Raisin has an Everbank offer for a 6-month CD with a 4.05% APY with just a $1 minimum deposit.

9.4 Excellent

Go to site

Patriot Bank 3-month CDs through Raisin

Lock in strong CD rates as high as 3.6% APY on term lengths you'll only find through Raisin. Plus, you only need $1 to open.

• 4.05% APY for 3 months.
• $1 minimum deposit.
• $0 monthly fee.

What could be better

Raisin isn’t a bank itself, and its accounts are not directly provided by Raisin. If something were to go wrong with a specific account, you may need to contact the banking partner to resolve it.

Raisin is also an online fintech, so there are no physical branches, which can be a big downside to someone who prefers in-person support or branch deposits.

Customer reviews and ratings

Raisin receives fantastic customer feedback — which we have to say is a rarity in the fintech and banking space.

Even on the Better Business Bureau (BBB), Raisin’s customer reviews are glowing. Most people only turn to the BBB to escalate a complaint, so nearly all banks and fintechs have dismal star ratings. On the Trustpilot, the happy reviews continue.

Overall, most reviews across platforms are 5-star, with customers loving the variety of savings and CD options and the ease of managing multiple accounts through one login. They also report helpful and fast customer service.

Frequently asked questions

• Is Raisin a bank?

  No, Raisin is not a bank. It is a savings product marketplace, and the accounts offered on the platform are provided by FDIC- or NCUA-insured financial institutions.

• Is Raisin safe?

  Yes, all accounts opened through Raisin include deposit insurance up to the standard amount of $250,000 per depositor. Raisin is a legitimate company that only partners with institutions that provide deposit insurance. It also doesn't hold any consumer funds itself and states that all deposits are held exclusively at federally insured financial institutions.

To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Bethany Hickey

Banking editor

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Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

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Bethany has written 474 Finder guides across topics including:

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