Elevault: Savings Accounts & Rates

Savings rates updated: 8/8/2025

Mission statement: Banksparency aims to make Elevault's savings accounts transparent and comparable to those of other banks. Learn more about Banksparency.

Note: Interest rates below are reported as APY, or Annual Percentage Yield

We earn a commission if you open an account through some links on this page.

Savings Overview

High Yield Savings Account: 4.60% APY(Rank 3 of the 20 Best Savings Rates)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.38% (as of 7/21/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Location: Arkadelphia, Arkansas

Founded: 1884

Affiliation: Elevault is a product by Southern Bancorp Bank

Deposit Insurance: FDIC Cert # 1528

BBB Rating: A+ (Not BBB Accredited)

App Store Rating: 3.9/5

Google Play Rating: 4.2/5

Website: Visit Elevault

Our Take on Elevault

Highlights

High Yield Savings Account offers 4.60% APY up to $250,000.
No minimum deposit or balance requirements.
No maintenance fees associated with the account.
Strong BBB rating of A+ indicates trustworthiness.

Considerations

Account is online-only, limiting access for some users.
Daily deposit limit of $2,500 may restrict larger deposits.
Not BBB Accredited despite high rating.
App Store rating of 3.9 may indicate user experience issues.

Summary: Elevault offers a competitive High Yield Savings Account with a 4.60% APY for balances up to $250,000 and no fees or minimums. However, it is an online-only bank, which may not suit all savers. The daily deposit limit of $2,500 could be a drawback for those looking to deposit larger amounts. Despite its A+ BBB rating, the lack of accreditation and moderate app ratings may raise concerns for some potential customers.

Savings Account: In-Depth View

Savings Account Offered by Elevault

Feature	High Yield Savings Account
APY	4.60% (as of 8/8/2025)
APY Trend	N/A
Minimum Deposit	$0
Minimum Balance for APY	$0
FDIC-insured	Yes
Online Only	Yes
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Daily
Maintenance Fee	$0
Eligibility	United States
Note	The 4.60% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500.
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for Elevault

All calculations are based on APY.

Savings Product:

High Yield Savings Account (APY: 4.60%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $1,817.2 (11.49%)
Total contributions: $13,000 (82.19%)
Initial deposit: $1,000 (6.32%)

Your total balance

$15,817.20

Effective APY: 4.60% (based on your deposit and contributions)

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Elevault Savings Rates Over Time

No historical data available.

Compare Elevault's Savings Account

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Feature	Elevault	Select a bank...
Product	High Yield Savings Account	N/A
APY	4.60% (as of 8/8/2025)	N/A
Bundled Account	No	N/A
FDIC-insured	Yes	N/A
Online Only	Yes	N/A
Compound Frequency	Daily	N/A
Minimum Deposit	$0	N/A
Minimum Balance for APY	$0	N/A
Maintenance Fee	$0	N/A
Direct Deposit Required	No	N/A
Note	The 4.60% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500.	N/A