Earn interest with PayPal Savings. You work hard. Make your money work harder. Set your money aside and watch it grow – to the tune of 4.00% APY.
Update 3/6/25: The rate has decreased to 4.00% APY from 4.10%.
About PayPal Savings Review
Thei mission is to democratize financial services to ensure that everyone, regardless of background or economic standing, has access to affordable, convenient and secure products and services to take control of their financial lives.
PayPal believes access to affordable and convenient financial services should be a right for all rather than a privilege for the few. To achieve this, we are aligned across the company around one central vision: to make the movement and management of money as simple, secure and affordable as possible. As they democratize financial services, they can enable the hopes, dreams and ambitions of millions of people around the world.
I’ll review the PayPal Savings below.
PayPal Savings Rate
- What you’ll get: 4.00% APY
- Where it’s available: Nationwide
- Eligible account: Savings
- Credit Inquiry: Unknown
- Opening Deposit: Not listed
- Monthly fee: None
- Early Termination Fee: None listed, check with CSR
(FDIC Insured)
How to Earn Rate
- Open a new savings account at PayPal.
- Be sure to have the following info handy as they may ask for it: Name, Address, Social Security Number, Date of Birth and Funding Account Information
- Once your account is funded, enjoy earning 4.00% APY Rate
Account Features
Save with PayPal Savings.
- Watch your money grow. Set your money aside and earn interest on savings.
- No minimums, no fees. Save with no minimum account balances or fees.
- Easy to manage savings. Use the app for 24/7 access to money transfers, goal tracking, and savings tips.
Is PayPal A Bank?
No, PayPal is no a bank – PayPal is a financial tech company. The banking services are powered by Synchrony Bank (Member FDIC).
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Conclusion
PayPal is currently offering a competitive rate with their Savings account.
In addition to the rate, check out our list of best rates Savings, Money Market, and CD accounts.
If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank, and many more.
Let us know about your experience with this bank and comment below.
