Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Yotta Savings account review

Last updated:  

This new app rewards lucky savers with cash prizes, but is it too good to be true?

Yotta savings combines features of a standard savings account with a sweepstakes lottery system that rewards you with cash prizes as long as you pick the week’s winning numbers. But its APY is at a low 0.2%. Unless you win a large cash prize, you’ll earn more elsewhere.






Minimum deposit to open


Minimum deposit to open$0
Minimum balance to earn interest$0
Interest compoundingDaily
Monthly transaction limit6

Expert review

Michael Benninger

Review by

Michael Benninger is a personal finance writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Blinkist, Business Insider and the Los Angeles Times. Michael graduated from Rowan University with a bachelor’s degree in business administration. When he’s not writing, you can usually find him watching movies, enjoying the outdoors or boarding planes to distant destinations.

Expert review

Yotta savings is best for those who like playing the lottery and want a fun way to save. The concept of a prize-based savings account may sound new, but it’s a model that’s been used in other countries for decades.

Ultimately, a Yotta savings account offers a similar thrill to playing the lottery, but rather than throwing away money on losing tickets, you’ll deposit those funds into an FDIC-insured savings account.

But if you don’t win big, your money’s likely to grow faster elsewhere. If you don’t want to try your luck, explore other high-yield accounts for a more predictable savings option.

How does Yotta work?

Prize-linked savings programs like Yotta have existed in the UK since the 1950s, but this account is among the first in the US. Here’s how it works:

1. Get your tickets

For every $25 you deposit in a Yotta account, you get a recurring lottery ticket each week. For example, if you deposit $1,000, you’ll get 40 tickets every week as long as those funds remain in your account. For each ticket, you can pick seven numbers — similar to a Powerball or Mega Millions game. If you don’t select any numbers, Yotta will choose them for you.

2. Enter daily drawings

Every night at 9 p.m. ET, a third-party insurance company uses a random number generator to draw a single number for the Yotta lottery. Weekly contests begin on Monday and end Sunday. If the seven numbers drawn during a week match the numbers on any of your tickets, you could win anywhere from $0.10 to $10 million.

3. Collect your winnings

Yotta automatically adds your winnings to your account balance. For every $25 you win, you get another ticket for the following week’s contest.

How do I open a Yotta savings account?

You’ll need an iPhone, iPad or Android device to open a Yotta savings account:

  1. Download the Yotta app from the App Store or the Google Play Store.
  2. Tap Sign Up, then enter your email address and create a password.
  3. If you have a referral code, enter it to collect free tickets, then tap Join Yotta.
  4. Fund your Yotta account.
  5. Make your first deposit and receive a ticket for every $25 you transfer.


To open a Yotta savings account, you’ll need to meet the following requirements:

  • At least 18 years old
  • Legal US resident

Required information

Provide the following details to open your account:

  • Name
  • Physical address
  • Date of birth
  • Social Security number

Is Yotta savings safe?

Yotta is backed by Y-Combinator, a reputable startup accelerator. Yotta is not a bank, but it acts as an intermediary between its customers and Evolve Bank & Trust, a Memphis-based bank founded in 1925. Any funds you deposit through Yotta are held by Evolve, which is FDIC insured for up to $250,000.

Deposits you make using the Yotta app are securely handled by Plaid, a financial services startup owned by Visa.

What are the benefits of a Yotta savings account?

A few perks to opening a Yotta account:

  • No monthly fees. Opening an account doesn’t cost anything, and there are no monthly fees.
  • You could win. If you win, your account balance could grow more rapidly than if you used a standard savings account.
  • No gambling. You won’t be throwing away money on losing tickets. The more money you save, the more chances you have to win.
  • Referral bonus. Sign up using someone’s Yotta savings referral code and get 100 free tickets to start. Share your own referral code after you sign up to earn even more bonuses.

What are the odds of winning $10 million with Yotta?

The odds of hitting the jackpot are one in 3,277,899,625. The fine print states that if you do hit the jackpot, you’ll actually receive a lump-sum payout of $5.8 million. That’s the present cash value of $10 million based on a 40-year annuity. While that sounds suspicious, it’s a common practice for lottery organizers to use annuity values in their marketing materials.

Can multiple people win the Yotta jackpot?

Yes. There can be multiple winners, but only if the jackpot is over $999. If the prize is over $999, then the cash is split among the the winners.

What should I look out for?

While Yotta offers an interesting and fun approach to savings, it still has some drawbacks:

  • New app. Yotta debuted a few months ago, so the company doesn’t have much of a track record.
  • Low APY. Yotta savings accounts receive a 0.2% APY, which is far lower than what many high-yield savings accounts offer.
  • Opportunity cost. If you keep your money with Yotta and never win, you’ll miss out on the interest you would have earned with a standard high-yield savings account.
  • Mobile only. Yotta only works with iOS and Android devices, so you can’t deposit or withdraw funds through a web browser.
  • Linked account required. You need to link to an external bank account to use and transfer money into your Yotta.

Yotta savings reviews and complaints

Yotta savings has a 4.5 out of 5-star rating on Trustpilot based on 23 customer reviews. Customers love the app saying it’s a fun way to save money. Many people claim they’ve won at least $10 since opening their account, although they haven’t come close to winning the big jackpot. The biggest customer complaint is that you could earn more interest in a high-yield savings account.

Compare Yotta with other savings accounts

Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned
American Express® High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
Aspiration Spend & Save Account

1.00% on $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0 per month or $15 per month for Aspiration Plus ($12.50 per month if you pay annually)
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
Axos Bank High Yield Savings
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
CIT Bank Money Market
A savings account with a higher-than-average rate and minimal fees.
SoFi Money
SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.

Compare up to 4 providers

How do I deposit or withdraw my money?

The only way to deposit funds into your Yotta savings account is by tapping Get More Tickets in the app and entering the amount of money you wish to transfer. You can also set up recurring deposits on a weekly, biweekly or monthly basis.

To withdraw funds back into your linked account, navigate to the Settings screen in the app, and tap Withdraw. As with most savings accounts, you’re limited to making six monthly withdrawals. Withdrawals will take two to three days.

You have a daily limit of $10,000 and a monthly limit of $40,000 for deposits and withdrawals.

Frequently asked questions

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site