SmartyPig: Savings Accounts & Rates

Savings rates updated: 10/30/2025

Mission statement: Banksparency aims to make SmartyPig's savings accounts transparent and comparable to those of other banks. .

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

SmartyPig Account: 3.90% APY(Rank 45 out of 81 tracked HYSAs)

Minimum Deposit: $0 | Online Only

Offered by the affiliated Sallie Mae Bank:

High-Yield Savings Account: 3.90% APY(Rank 44 out of 81 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.4% (as of 10/20/2025)

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%, unchanged from 30 days ago.
No minimum deposit or balance requirements.
No maintenance fees for account holders.
A+ BBB rating with accreditation indicates strong trust.

Considerations

Only available online, no physical branches.
Google Play rating is low at 2.8.
Direct deposit is not required, but may limit options.
Limited to one main savings account option.

Summary: SmartyPig offers a competitive APY of 3.90% with no minimum deposit or maintenance fees, making it appealing for savers. However, it operates online only, lacking physical branches, and has a low Google Play rating of 2.8. The bank holds an A+ BBB rating, ensuring trustworthiness. With only one main savings account available, users may find limited choices for their savings needs.

Savings Account: In-Depth View

Savings Account Offered by SmartyPig

Feature	SmartyPig Account
APY	3.90% (as of 10/30/2025)
APY Trend	Stable for the last quarter
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.

Savings Product:

SmartyPig Account (APY: 3.90%)

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

Historical APY Insights

Metric	SmartyPig Account
Latest APY	3.90 %
Trend	Sideways
Slope (bps/mo)	0.0
Rate Changes / Mo	0.00
Days Since Last Change	45
High (-2 m)	3.90 %
Low (-2 m)	3.90 %
Draw-down from High	0.0 %
Volatility (CV)	0.000

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 2 months (regression slope).
Slope (bps/mo): Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo: Typical number of APY moves per month.
Days Since Last Change: Recency of the latest APY adjustment.
High (-2 m): Highest APY in the last 48 days.
Low (-2 m): Lowest APY in the last 48 days.
Draw-down from High: How far today sits below the 2-month peak.
Volatility (CV): Coefficient of variation = stdev ÷ mean.

Why Track Savings-Account APYs?

See how quickly a bank reacts to Fed moves or competition.
Gauge “twitchiness” - frequent moves can annoy savers.
Spot if you're buying near a peak (draw-down) or riding a rise.
Slope (bps/mo) shows speed of change.
Volatility (CV) scales jumps by average level.

Compare SmartyPig's Savings Account

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RBMAX - 3.90% APY
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ROGER - 3.87% APY
Salem Five Direct - 3.81% APY
Sallie Mae Bank - 3.90% APY
Santander Bank - 0.01% APY
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Synchrony Bank - 3.80% APY
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TD Bank - 0.05-2.75% APY
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Valley Direct - 4.10% APY
Varo Bank - 2.50-5.00% APY
Wells Fargo - 0.05-0.05% APY
Western Alliance Bank - 4.10% APY
Zynlo Bank - 4.20% APY

Feature	SmartyPig	Select a bank...
Product	SmartyPig Account	N/A
APY	3.90% (as of 10/30/2025)	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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