Tap into interest and make money when you save

Spruce customers can now earn 3.50% APY on their Savings Account! Opt in online or through the app after you sign up.

  • No minimum balance required

  • No monthly fees

  • No transfer limits between savings and spending

3.50% APY High-Yield Savings Interest Rate
3.50% APY High-Yield Savings Interest Rate

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.

Pair with other features to grow your savings even more

Maximize your savings and earn interest with Round Up, Cash Back Rewards, and auto savings. Whether you add to a Goal or Extra Saving, make money no matter how you save.

app on phone showing interest received app on phone showing interest received app on phone showing interest received

^ For illustrative purposes only

Interest FAQs

Good news — all Spruce account holders are eligible to earn interest on their Savings account! There is no minimum balance requirement. All you need to do is opt in to earn interest either on or your Spruce mobile app. You’ll start earning interest after you successfully opt in and deposit money into your Extra Saving or Goal.

To start earning interest, you must opt in by completing the opt-in process, which includes an IRS tax requirement where we ask if backup withholding applies to you.

You can opt in to earn interest on or your Spruce mobile app. From the Saving page, find the Save money and earn interest card and click Opt-in to complete the opt-in prompts.

Currently, Spruce Savings accounts will earn 3.50% Annual Percentage Yield (APY).

The APY is accurate as of 04/05/2024. This rate is variable and can change without notice. Fees may reduce earnings. See the Spruce Savings Rate Sheet for more info.

Spruce pays any accrued monthly interest on the first calendar day of the following month.

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 automatic cash back rewards and Round Up.

Spruce does not charge any fees for earning interest or moving funds into or out of savings. See our entire list of fees at

Nope! There is no minimum or maximum balance requirement.

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

After you opt in to interest, you will earn interest on any balance in your Extra Saving and any of your active Saving Goals.

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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