M1 HIGH Yield Savings Account


Earn more
while you save

Reach your savings goals faster with interest rates big banks would never dream of offering you.

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A forever home for your savings

This savings account offers more than just a hefty interest rate.

High-Yield Savings screen
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Accounts are FDIC-insured up to $5 million.3

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Save automatically
Contribute on a schedule so you’re always pushing toward long-term goals.

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Integrates with M1
It’s easier to see the big picture of your finances with more of your money in the same place. 

Americans missed out on $603 billion

in interest over the last 8 years by sticking with big banks2
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 May 2023. 

So, where’s your
money really going?

When you save with a big bank, most of the interest earned on your balance isn’t going back to you. Instead, that money helps big banks further their own interests.

M1 Rate %5.00

At M1, your money comes back to you

M1 Plus members earn 12.8x the national average2, or 500x more than with a big bank. 

Accrued Interest

For illustrative purposes only. Calculations based on stated APY assuming no change to interest rates.  

Stated APY is for M1 Plus members and is current as of May 2023. Information on competing banks accessed from each bank’s website in May 2023. National average APY accessed at https://www.fdic.gov/resources/bankers/national-rates/ in April 2023. 

More interest for your interests

What does “5.00% APY1” really mean?
Imagine that you deposit $25,000 up front and add $200 each month.*

Interest earned after of saving

*For illustrative purposes only. APY rate subject to change. 

Frequently asked

Don’t see your question here?
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

M1 Plus members earn 5.00% APY1 with our High Yield Savings Account (membership is $10/month). If you are not an M1 Plus member, you can open a High Yield Savings Account and earn 1.50% APY1 on your balance.  Learn more about M1 Plus

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) or opening a savings account does not require a minimum account balance. Stated APY is valid from date of account opening. Account fees may reduce earnings. Higher APY rate subject to paid M1 Plus subscription. Rates are subject to change. 

2National average is 0.39% APY as of April, 2023. Obtained from the FDIC.

3B2 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