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M1 HIGH-YIELD SAVINGS ACCOUNT
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Earn 4.25%1 APY on your savings

Big banks, like Chase and Bank of America, have served themselves the biggest piece of your pie for too long. Current Savings accountholders can sign up to earn up to 500x their savings rate.

Rates retrieved from Chase and Bank of America’s websites in November 2024.

Americans missed out on $603 billion

in interest over the last 8 years by sticking with big banks
Source: WSJ *

starting at

0.01% APY

starting at

0.01% APY

starting at

0.05% APY

starting at

0.15% APY

Competitor rates retrieved from each institution’s website in August 2023. 

How big banks spend your money

It’s hard to believe big banks have been pocketing most of the interest earned on your savings. For too long, this money has gone toward their interests, and not yours.

Insured up to
$5 million

The M1 High-Yield Savings Account offers 20x the FDIC insurance offered by most big banks.3 Your nest egg is safe with us.

Frequently asked

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Get more answers in our Help Center

We don’t spend our budget on big stadiums, celebrity spokespeople, or any of those other stunts the big banks pull. Instead, we’re economical with our spending — which means we can prioritize paying our clients the interest they deserve.  

Just like savings accounts offered by big banks, M1 High-Yield Savings Accounts are backed by FDIC insurance. However, most banks only offer insurance up to $250,000, which is only 1/20th of the $5 million insurance offered by M1.3

Demand more from your savings

You have so much to gain, and it only takes a few minutes to make a money move.

M1 is not a bank. M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc. M1 High-Yield Savings Accounts are furnished by B2 Bank, NA, Member FDIC.
 
¹Obtaining stated APY (annual percentage yield) with the M1 High-Yield Savings Account does not require a minimum account balance. Stated APY is accrued on account balance. APY is solely determined by M1 Spend LLC and its partner banks, and will include account fees that will reduce earnings. Rates are subject to change without notice. M1 High-Yield Savings Account is a separate offering from, and not linked to, the M1 High-Yield Cash Account offered by M1 Finance, LLC. M1 is not a bank

2National average is 0.45% APY as of September 2023. Obtained from the FDIC.

3M1 High-Yield Savings Accounts are furnished by B2 Bank, NA, Member FDIC (“B2”). M1 is not a bank. B2 Bank is a member FDIC institution and does not itself provide more than $250,000 of FDIC insurance per legal category of account ownership as described in FDIC regulations. Additional FDIC insurance coverage is provided through B2’s Insured Deposit Network Program involving other FDIC insured depository institutions. Deposits may be insured up to $5,000,000 through B2’s Insured Deposit Network Program. Full terms of the Program can be found at m1.com/legal/agreements/hysa_agreement and a complete list of participating banks in the program can be found at m1.com/legal/agreements/depositnetwork

*Source: https://www.wsj.com/video/series/dion-rabouin/americans-lost-603-billion-by-sticking-with-big-banks-heres-how/0A3AD04B-4094-4F39-A9B6-A4781CE1E247