SmartyPig: Savings Account & Rates
Mission: Banksparency aims to make SmartyPig's savings account transparent and comparable to the market.
Savings Overview
SmartyPig Account
| Min. Deposit | $0 |
| Min. Balance | $0.01 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.25% APY.
Also see affiliated bank: Sallie Mae Bank
View productsBank Overview
- HQ LocationSalt Lake City, Utah
- Founded2005
- Ratings & Trust
- Deposit InsuranceFDIC Insured(Cert: 58177)
Our Take on SmartyPig
The Good
- Decent APY of 3.90%
- No minimum deposit or balance requirements
- No monthly maintenance fees
- Highly rated iOS app (4.6 stars)
Considerations
- No physical branch access (online only)
- Low-rated Android app (2.7 stars)
The SmartyPig Account offers a competitive APY of 3.90% with no minimum deposit or balance requirements, and no monthly maintenance fees. Additionally, there are no direct deposit requirements, making it accessible for various users. However, it is important to note that this account is available online only, with no physical branch access. While the iOS app is highly rated at 4.6 stars, the Android app has a lower rating of 2.7 stars.
Savings Account: In-Depth View
Savings Account Offered by SmartyPig
| Feature | SmartyPig Account |
|---|---|
APY | 3.90%Verified: 12/14/2025 |
APY Trend | Very StableNo rate changes in last 90 days |
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
Savings Breakdown
- Interest Earned+$1,526.90(9.8%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,526.90
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 3 Months| Metric | SmartyPig Account |
|---|---|
Latest APY | 3.90% |
Trend | Sideways |
Slope (bps/mo) | -0.0 |
Rate Changes / Mo | 0.00 |
Days Since Last Change | 94 |
High (-3m) | 3.90% |
Low (-3m) | 3.90% |
Draw-down | 0.0% |
Volatility (CV) | 0.000 |
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 94-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 | 3.90%Verified: 12/14/2025 | - |
APY Trend | Very StableNo rate changes in last 90 days | - |
| 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 | - | - |
Alternatives to SmartyPig
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