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.
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 400 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.
Raisin HYSAs
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
0.40%, 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.
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What 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.
Raisin partners with institutions to offer exclusive rates and account terms. For example, Sallie Mae offers a variety of CDs and typically requires a minimum deposit of $2,500. However, through Raisin, Sallie Mae features a 14-month no-penalty CD with a $1 opening deposit.
Lock in strong CD rates as high as 4.05% 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.
Where it falls short
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.
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.
What do people on Reddit say?
A handful of threads mention difficulties with verifying their Raisin login after registration. According to a Reddit user, their experience with a slow registration process was due to Raisin handling an influx of new users. In other threads, users question if Raisin is legit, and fellow Redditors correctly explain that Raisin is a marketplace (or savings showcase) and not a bank itself. But besides those few threads, there isn’t much chatter about Raisin.
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.
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.
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Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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