SmartyPig: Savings Accounts & Rates

Savings rates updated: 9/12/2025

Mission statement: Banksparency aims to make SmartyPig'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

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Savings Overview

SmartyPig Account: 3.90% APY(Rank 61 out of 83 tracked HYSAs)

Minimum Deposit: $0 | Online Only

Offered by the affiliated Sallie Mae Bank:

High-Yield Savings Account: 3.90% APY(Rank 60 out of 83 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.39% (as of 8/26/2025)

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: Salt Lake City, Utah

Founded: 2005

Affiliation: SmartyPig is offered through Sallie Mae Bank.

Access to Branches: None

Deposit Insurance: FDIC Cert # 58177

BBB Rating: A+ (BBB Accredited)

App Store Rating: 4.6/5

Google Play Rating: 2.8/5

Website: Visit SmartyPig

Our Take on SmartyPig

Highlights

Current APY is 3.90%, competitive for high-yield savings.
No maintenance fees, making it cost-effective.
Minimum deposit and balance are both very low: $0 and $0.01.
BBB rating is A+, indicating strong trustworthiness.

Considerations

Only available online, no physical branches.
Google Play rating is low at 2.8.
No direct deposit requirement may limit some users.
No APY change noted in the last 30 days.

Summary: SmartyPig offers a high-yield savings account with a competitive APY of 3.90% and no maintenance fees. The bank has an A+ BBB rating, indicating reliability. However, it operates online only, lacking physical branches, and has a low Google Play rating of 2.8. The absence of a direct deposit requirement may restrict some potential users. Overall, it's a solid option for savers looking for high yields without fees.

Savings Account: In-Depth View

Savings Account Offered by SmartyPig

Feature	SmartyPig Account
APY	3.90% (as of 9/12/2025)
APY Trend	N/A
Minimum Deposit	$0
Minimum Balance for APY	$0.01
FDIC-insured	Yes
Online Only	Yes
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Daily
Maintenance Fee	$0
Eligibility	United States
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for SmartyPig

All calculations are based on APY.

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $1,526.9 (9.83%)
Total contributions: $13,000 (83.73%)
Initial deposit: $1,000 (6.44%)

Your total balance

$15,526.90

Effective APY: 3.90% (based on your deposit and contributions)

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

SmartyPig Savings Rates Over Time

No historical data available.

Compare SmartyPig's Savings Account

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Feature	SmartyPig	Select a bank...
Product	SmartyPig Account	N/A
APY	3.90% (as of 9/12/2025)	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	$0.01	N/A
Maintenance Fee	$0	N/A
Direct Deposit Required	No	N/A

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