• ONLINE HIGH-YIELD SAVINGS ACCOUNT

    Finally, a high-yield savings account with no monthly fees

    Spruce customers can earn 3.50% APY on their Savings!

    Sign up for Spruce Download the app

  • HIGH-YIELD SAVINGS RATE

    You could earn more while doing less

    Unlike some competitors that require direct deposit to unlock a certain rate, Spruce Savings earns 3.50% APY  – no direct deposit necessary.

    Sign up for Spruce Interest FAQs

    *FDIC average national savings rate as of 5/18/2026 here.
    **Comparison based on Chime Standard high-yield savings account as of 5/29/2026 on chime.com/savings/high-yield-savings-account. Chime is a registered trademark of Chime Financial, Inc.

  • Enjoy these benefits while you save

  • No minimum balance

    Earn interest on your Savings account without any minimum balance requirements.

  • No monthly fees

    With no monthly fees, there’s more money to put toward your savings and earn interest!

  • Move money as needed

    Move money from savings to spending as often as you need, anytime without penalty.

  • Maximize your tax refund

    Use Smart Tax Refund for savings recommendations and grow your savings even more with interest.

See how much your savings could grow

To start, I could contribute:
$
Cannot be less than $0 or greater than $999,999
Monthly, I could continue to contribute:
$
Cannot be less than $0 or greater than $999,999

Over the course of:

1 month
50 years

In 5 years, with 3.50% APY12

Your total contributions and interest: $7,140

$3,678
$7,140

  • This calculator is for illustrative purposes only, assuming no rate changes over the period calculated, and that the account holder has not withdrawn funds during the period displayed above. All dollar amounts are rounded to the nearest dollar.

Enter to win $1,000 every month*

We’re giving away real money and helping you save along the way. Transfer as little as $10 into your Spruce Savings account for a chance to win.

Learn more

*March 2026 - February 2027

Spruce savings account promotion offering monthly cash prizes

  • Spruce features work together to help grow your money

    Maximize your Savings with other features like Round Up and auto transfers from your Spending account.

Interest FAQs

A high-yield savings account helps your money grow faster by offering a higher interest rate than most traditional savings accounts. For example, Spruce Savings offers 3.50% APY —over 7x the national average.*

*FDIC average national savings rate as of 5/18/2026 here.

Good news – all Spruce account holders are eligible to earn interest on their Savings account! There is no minimum balance requirement. You’ll start earning interest after you successfully deposit money into your Extra Saving or Goal. 



Spruce Savings Accounts opened prior to July 17, 2025 may be required to opt in through the Spruce app or at sprucemoney.com to start earning interest.

You can add funds by transferring funds from your Spending account or through scheduled transfers to your Extra Saving and/or Saving Goals. Funds can also get deposited into your Extra Saving with the Round Up feature.

Spruce does not charge any fees for earning interest or moving funds into or out of savings. See our entire list of fees at https://www.sprucemoney.com/fees/

While some savings accounts might require a minimum balance,  there is no minimum or maximum balance requirement for your Spruce Savings to earn interest.

All funds in your Spruce accounts, including your savings, are FDIC insured through Pathward®, N.A. Member FDIC. This means the Federal Deposit Insurance Corporation insures these accounts up to $250,000 or the maximum amount permitted by law. 

Spruce users earn interest on any balance in your Extra Saving and any of your active Saving Goals. 

For reference, Spruce has a 3.50% APY on Savings, that’s about 7x the national average*, helping your money grow faster than the national average. Rates may change over time.

 

*FDIC average national savings rate as of 5/18/2026 here.

  • Spruce fintech platform is built by H&R Block, which is not a bank. Spruce℠ Spending and Savings Accounts established at, and debit card issued by, Pathward®, N.A., Member FDIC, pursuant to license by Mastercard®. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

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