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How do I earn interest on my savings account?

Savings

There is no minimum balance required to earn interest in your savings account. At the end of each month, the interest payment will be deposited into your account.


Certificate of Deposits

Like savings accounts, CDs earn interest, and our minimum to open a CD is $2,500. Interest begins to accrue on the day the CD is opened. Interest will be credited monthly. The Annual Percentage Yield assumes that interest remains on deposit until maturity. A withdrawal of interest will reduce earnings.

Additional Product Features FAQ

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Related FAQ's
When is the First Evaluation Period for a new LevelUp Savings Account?
The First Evaluation Period starts after the first two statement cycles following account opening.
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Dec 31, 1969
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How do I earn a LevelUp Rate?
The LevelUp Rate is the rate you’ll earn if you make at least $250 in cumulative deposits during the previous statement cycle.
Savings Accounts and CDs FAQ
Dec 31, 1969
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Can I make multiple deposits in a month to meet the requirement?
Yes, you can make multiple deposits during the Evaluation Period to meet the minimum deposit amount of at least $250 to earn the LevelUp Rate.
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Dec 31, 1969
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What type of deposits qualify for the LevelUp Rate?
There’s no minimum individual deposit requirement.
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Can I transfer money out of my LevelUp Savings account during the month?
Yes, as long as you make a qualifying $250 deposit during the Evaluation Period, you will qualify for the LevelUp Rate in the following month.
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Dec 31, 1969
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Related Glossary
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{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
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Accrued Interest
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment. 
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Annual Percentage Rate (APR)
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
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Charge-Off
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
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Feb 7, 2023
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Fixed Interest Rate
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
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Feb 4, 2023
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