Credit Karma MoneyTM Save

Grow your money faster with 5.10% APY.1

Reach your savings goals with an APY more than 10X the national average.2

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Funds FDIC insured up to $5,000,000 so your money is protected.3

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No monthly maintenance, transfer, or withdrawal fees. Plus, no minimum balance to open.

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Set up automated savings to help achieve your financial goals.

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Add funds to your account4 and let our high-yield savings rate earn you more money while you save.

Open a Credit Karma MoneyTM Spend account5 and get access to Early Payday. Plus $20 of overdraft coverage6 and more when you set up a monthly direct deposit7 of $750 or more.


What is Credit Karma Money™?

Credit Karma Money offers online checking and savings accounts to help members achieve their financial goals. Accounts are free to open.

How does Credit Karma Money™ Save work?

Credit Karma uses a network of banks to provide a 100% free interest-bearing savings account with no fees. The balance in your Credit Karma Money Save account is eligible for FDIC insurance up to $5,000,000. There’s never a minimum balance to open or maintain a Credit Karma Money Save account. The amount of interest you can earn with your Save account is based on the Annual Percentage Yield (APY). So as long as you have at least $0.01 in your Save account, you can start earning interest today.

How do I open a Credit Karma Money™ Save account?

To open a free, FDIC-insured Credit Karma Money Save account, you’ll first need to have a Credit Karma account. You can then open a savings account through the Credit Karma app on your mobile device or desktop.

Is Credit Karma Money safe?

The balance in your Credit Karma Save account is eligible for FDIC insurance up to $5,000,000.

Have more questions?

Check out FAQs for Credit Karma Money™ Spend and Credit Karma Money™ Save.

Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when it’s posted. Read our Editorial Guidelines to learn more about our team.

1The Annual Percentage Yield (APY) shown is current as of 03/01/2023. This rate is variable and may change.  No minimum deposit to open account. Balance must be at least $0.01 to earn APY. A maximum of 6 withdrawals per monthly statement cycle may apply.

2Source: FDIC’s national average savings rate as listed at

3The balance in your savings account may be moved to one or more network banks, as listed here, where it is eligible for FDIC insurance up to $5,000,000 once the funds arrive at a network bank. Actual insured amounts may be lower or adversely affected based on any balances you hold at a network bank. Learn more at:

4A maximum of 6 withdrawals per monthly savings statement cycle may apply.

5Banking services provided by MVB Bank, Inc., Member FDIC. Maximum balance and transfer limits apply per account.

6Direct deposits of at least $750 into your Spend account per calendar month to be eligible. No fee to use. Discontinue any time. Overdraft Coverage allows us to consider paying your ACH, debit card and ATM transactions that would have otherwise declined due to insufficient funds. Your next deposit will be automatically applied to your negative balance. Overdraft coverage does not apply for bill payments through the Credit Karma platform,or internal or external transfers. Limits may change daily. Use responsibly. Learn more here.

7Direct deposit(s) are electronic deposits of compensation for services (such as payroll, salary, or government benefits) made into your Credit Karma Money Spend account. Person to person transfers, transfers from one account to another or from other financial institutions and Instant Transfers (including Instant Transfers for Earned Wage Access) are not considered direct deposits.