Earn 5.00% APY on your savings
Earn more than 10x the national average on your savings.* No account fees. No minimums. No nonsense.
Earn more on savings
- 5.00% APY savings account, more than 10x the national average*
- No account fees
- Unlimited fee-free transfers
- No minimum deposit to earn 5.00% APY
- FDIC insured up to $250,000 per depositor based on the ownership category†
- Get set up in minutes
Your savings are secure
Fruitful high yield savings accounts are held at our partner bank – Emigrant Bank, Member FDIC, which was founded in 1850, and is one of the largest privately held banks in the United States. All accounts are FDIC insured up to $250,000 per depositor based on the ownership category†.
Start
saving
smarter
Sky-high
Your savings earn 5.00% APY—that’s one of the best rates in the market, more than 10x the national average.*
Secure
$250,000 of FDIC insurance per account holder† based on ownership category through our FDIC member partner bank.
Simple
No account fees, no minimums, an ideal spot for your emergency, short-term, or goal-specific savings.
Get saving
with support
Hear inspiring stories from real members
making real progress.
“I wanted to start saving for a house, and I really didn't know how to be able to accomplish that goal.”
Misha
Real Fruitful Member
The people in these videos are real Fruitful Members who were paid in cash for their time and participation in this series. We think that is fair.¹
ⓘ
Each testimonial reflects the individual Member's experience as an advisory Client and is not intended to represent any other Member's or Client's experience.
We believe in the integrity of this approach and that, outside the conflict of interest present due to compensation, no other conflicts apply to these testimonials.
These Client testimonials were given in October 2023, represent the opinions of each Member at that time, and may have been edited for brevity and clarity.
Frequently asked questions
How is the high yield savings account part of the Fruitful membership?
Fruitful is a financial wellness membership that provides access to:
1. Expert advice and support from a dedicated Fruitful Guide, who is a CERTIFIED FINANCIAL PLANNER™ Professional that helps with all aspects of your finances.
2. A 5.00% APY High Yield Savings Account, more than 10x national average*
3. Tailored investment portfolios with expert support at every step and no management fees.
The combo of these 3 core benefits allows our members to organize and optimize their finances in a way that’s simple, smart, stress-free, and sustainable. Members can improve their finances, make real progress toward goals, and eliminate stress. That sounds nice!
*Rates according to FDIC Monthly Rate Cap Information as of July 18, 2024.
What is a high yield savings account and why is it a good idea?
A high yield savings (HYS) account earns significantly more interest than a normal savings account does. They’re great places to keep cash that you plan to use this year or next, for goals like emergency funds, vacations, home down-payments, and holiday gifts. By keeping your cash in an FDIC-insured HYS account, your money is protected from loss due to bank failure, always accessible (with no penalties for using it when you need it), and earning a comparatively high return. This helps you earn more on your savings and helps to keep inflation from eroding some of the real value of that cash.
Will the interest rate lock in, or does it change?
It can change occasionally based on a number of factors — the primary being the Federal Funds Rate. We’ll always notify you when the rates change, and we’re motivated to provide members with as competitive a rate as possible. When the Fed, or Emigrant Bank, increases or decreases their interest rate, we increase or decrease ours.
What if I want to withdraw my money?
You can withdraw your money at any time. It can typically take three to four business days for funds to arrive in your linked bank account. If your withdrawal taps funds that were recently deposited, it may take a few extra days to process.
Are there account fees?
None. We don’t charge any account fees for Fruitful high yield savings accounts.
Is my money secure?
Fruitful high yield savings accounts are held at our partner bank – Emigrant Bank, Member FDIC, which was founded in 1850, and is one of the largest privately held banks in the United States. All accounts are FDIC insured up to $250,000 per depositor based on the ownership category†.
What does APY mean?
APY stands for annual percentage yield — a fancy way of expressing the real rate of return earned on your savings over a period of time (one year in this case) inclusive of the wonderful impact of compounding. Compounding - sometimes referred to as “interest on interest” - takes into account your deposits as well as accumulated interest over a period of time.
How is the interest on my account paid?
Interest on funds in your account compounds daily and is credited to your account every month.
Do you offer joint accounts?
Yes, we offer both individual and joint savings accounts.
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© Fruitful 2024 — All rights reserved. “Fruitful” refers to Fruitful, Inc. and its separate, affiliated subsidiaries. Fruitful, Inc. is an investment adviser registered with the U.S. Securities & Exchange Commission, offering investment advisory products and services exclusively to Members with an active Subscription. Learn more about Fruitful in our Form CRS.
Fruitful is a financial technology company, not a bank. Deposit accounts provided by Emigrant Bank, Member FDIC.
†Funds in the bank accounts are insured for up to $250,000 per depositor, depending on the ownership category. Interest rates are variable and subject to change at any time. These rates are current as of July 18, 2024.
¹ The people in these videos are real Fruitful Members who were paid in cash for their time and participation in this series. We think that is fair. Each testimonial reflects the individual Member's experience as an advisory Client and is not intended to represent any other Member's or Client's experience. We believe in the integrity of this approach and that, outside the conflict of interest present due to compensation, no other conflicts apply to these testimonials. These Client testimonials were given in October 2023, represent the opinions of each Member at that time, and may have been edited for brevity and clarity.
³ APYs for Chase and Apple as posted to their respective websites (here and here) as of July 18, 2024.
*Posted to the FDIC.gov website as the average national deposit rate on savings in the top left cell of the rate table, as of July 18, 2024.
Fruitful is not affiliated with, sponsored, or endorsed by the companies listed, described, or featured on its site. Company logos or trademarks used do not imply endorsement and are the property of their respective owners.