SmartyPig: Savings Account & Rates

By Aviel Fahl

Updated: 2/7/2026

Mission: Banksparency aims to make SmartyPig's savings account transparent and comparable to the market.

Interest rates reported as APY

Analysis of SmartyPig

Our verdict

SmartyPig offers SmartyPig Account, a high-yield savings account paying 3.65% APY with no minimum deposit.

At 3.65% APY, SmartyPig pays 9x the national average (0.39%). Ranks in the top tier of 99+ accounts tracked.

Ideal User Profile

Best for: simple saving without extra requirements and banking without needing a branch.

Important Considerations

Android app has a low rating (2.7).

Key Differentiators

Stands out with top-rated iOS app (4.6), A+ BBB rating.

Savings Overview

SmartyPig Account

3.65% APY

Rate Adjusted

-0.25%

Since 30 days ago

No Minimums Online Only

Min. Deposit	$0
Min. Balance	$0.01
Maintenance Fee	$0

Rank #51 of 99 tracked.

Market Reality Check

This bank offers rates below the current top tier. The best rates we track are currently above 4.15% APY.

See Top Rates

Also see affiliated bank: Sallie Mae Bank

View products

National Avg: 0.39% (FDIC, 1/20/2026).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationSalt Lake City, Utah
Founded2005
AffiliationSmartyPig is offered through Sallie Mae Bank.
Ratings & Trust
4.6iOS 2.7Android A+BBB BBB Accredited
Zelle® SupportNo Support
Standard ACH or Wire transfers only.
Deposit InsuranceFDIC Insured(Cert: 58177)

Visit Official Website

Featured Offers

CIT Bank - Platinum Savings

Competitive APY - with a balance of $5,000+
Earn up to $300 bonus with qualifying deposit
Highly rated mobile apps

FDIC Insured

Savings3.75%APY

Up to$300Bonus

Go to CIT Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$5,000
Mobile Ratings	iOS:4.8 Android:4.6

This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%.

EASY TRANSFERS, LOW MINIMUMS

SponsoredVerified Feb 7, 2026

FDIC Insured

Quontic High Yield Savings

Apply in 3 minutes or less
No monthly service fees
Transfer with Zelle, Apple Pay, G-Pay, and more

FDIC Insured

Savings3.50%APY

Go to Quontic Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$0
Mobile Ratings	iOS:4.8 Android:4.8

Savings Account: In-Depth View

Savings Account Offered by SmartyPig

Feature	SmartyPig Account
APY	3.65%Verified: 2/7/2026
APY Trend	Rate Adjusted -0.25% Since 30 days ago
Min. Deposit	$0
Min. Balance	$0.01
Monthly Fee	$0
Direct Deposit	None
Checking Bundle	No
Branch Access	None
Compounding	Daily
FDIC Insured	Yes
Eligibility	United States
Next Steps	-

Calculate Savings for SmartyPig

All calculations are based on APY.

Selected Product

SmartyPig Account3.65% APY

Initial Deposit

Recurring Deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$1,424.50(9.2%)
Total Contributions
$13,000
Initial Deposit
$1,000

Projected Balance

$15,424.50

Effective APY

3.65%

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

SmartyPig Savings Rates Over Time

Historical APY Insights

Last 5 Months

Metric	SmartyPig Account
Latest APY	3.65%
Trend	Sideways
Slope (bps/mo)	-4.5
Rate Changes / Mo	0.20
Days Since Last Change	23
High (-5m)	3.90%
Low (-5m)	3.65%
Draw-down	-6.4%
Volatility (CV)	0.025

How to read these metrics▼

Trends & Velocity

Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
Slope (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
Rate Changes / Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

High/Low: The absolute ceiling and floor of the rate during the 148-day window.
Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.

Compare with SmartyPig

Feature	Current View SmartyPig	Empty Slot
Product	SmartyPig Account	-
APY	3.65%Verified: 2/7/2026	-
APY Trend	Rate Adjusted -0.25% Since 30 days ago	-
Min. Deposit	$0	-
Monthly Fee	$0	-
Direct Deposit	No	-
Checking Bundle	No	-
Branch Access	None	-
Eligibility	United States	-
Compounding	Daily	-
FDIC Insured	Yes	-
Next Steps	-	-