5.50% APY with Betterment Cash Reserve Account
News

5.50% APY with Betterment Cash Reserve Account

Posted on by Edwin

Affiliate links for the products on this page are from partners who compensate us, and terms apply to the offers listed (see our advertising disclosure with our partner list for more details). However, our opinions are our own. Check out how we rate banking products to write unbiased product reviews.

  • The Betterment Cash Reserve account offers new customers an increased APY.
  • Instead of the current effective annual interest rate of 5%, you will receive an interest rate of 5.50% for three months.
  • To be eligible, you must sign up and make a qualifying deposit by August 26th.

It’s a good time to look for a savings account, as you can currently earn 5% or even more on your savings at various banks and credit unions.

One of the best high-yield savings accounts, the Betterment Cash Reserve Account, is offering new customers an increased interest rate of 5.50% annual percentage rate (APY), but there are only a few days left to sign up.

Get an increased APY of 5.50% on a Betterment Cash Reserve account

The Betterment Cash Reserve account currently offers a 5.00% APY to existing customers (5.50% APY for new customers for the first three months). New customers can receive an additional 0.50% APY increase for the first three months, but must do the following:

  • Registration until August 26
  • Open a Betterment Cash Reserve account
  • Make a deposit of $1,000 or more within 14 days of signing up
  • If the variable base APY changes during the first 3 months, you will still receive an additional 0.50% premium during the promotional period.

The 5.50% APR applies for three months once your deposit is settled. Betterment says the 5.50% rate applies to any Cash Reserve accounts you open during that period.

Read more about this account and its features, such as no transaction limits, in our Betterment Cash Reserve review.

Next steps: Open an account with Betterment Cash Reserve Account

Other 5% savings accounts

Thanks to this increased APY offering, Betterment currently tops our list of savings accounts with 5% APY or more. However, it’s far from your only option to get a high APY on your money right now.

Other savings accounts available nationwide to consider include:

<span>Sarah Silbert is a personal finance expert and award-winning journalist. As deputy editor of Personal Finance Insider, she oversees all guides and reviews on banking, credit, credit cards, mortgages, loans, investing, and insurance. </span><span>Experience</span><span>Sarah joined Business Insider in 2019 as a credit card editor and has built several Personal Finance Insider verticals from the ground up. </span><span>Before joining Business Insider, Sarah was senior editor at The Points Guy for more than four years, covering credit cards and rewards travel. Along with her team at TPG, Sarah led the launch of coverage for the popular <a href="https://www.businessinsider.com/personal-finance/chase-sapphire-reserve-credit-card-review">Chase Sapphire Reserve Credit Card with Travel Rewards</a> in 2016.</span><span>Sarah began her journalism career writing articles about technology for Engadget and Laptop Magazine, jobs that led to international travel to trade shows and conferences and sparked her interest in credit card perks.</span><span>Sarah began educating herself on best practices for managing personal finance in her early years as she tried to find balance given the high cost of living in New York City. The money management skills Sarah learned during her years as a self-employed freelance editor also sharpened her financial acumen and gave her a passion for helping others navigate the financial challenges of running a small business, taxes, and budgeting. In her personal life, Sarah enjoys helping her friends hone their credit card strategies to book fancy hotel rooms and flights. She also enjoys talking about her dog with anyone who will listen.</span><span>Field of expertise</span><span>Sarah’s areas of expertise in personal finance include:</span></p> <ul> <li><span>credit-worthiness</span></li> <li><span>Credit cards</span></li> <li><span>loan</span></li> <li><span>Invest</span></li> <li><span>Banking</span></li> <li><span>Insurance</span></li> </ul> <p><span>Education</span><span>Sarah is a graduate of Sarah Lawrence College, where she wrote and edited the college newspaper.</span><span></span>“/></p> <p> <noscript><br /> <img decoding=

Sarah Silbert

Deputy Editor

Sarah Silbert is a personal finance expert and award-winning journalist. As deputy editor of Personal Finance Insider, she oversees all guides and reviews on banking, credit, credit cards, mortgages, loans, investing, and insurance. ExperienceSarah joined Business Insider in 2019 as a credit card editor and has built several Personal Finance Insider sections from the ground up. Before joining Business Insider, Sarah spent more than four years as senior editor at The Points Guy, covering credit cards and rewards travel. Along with her team at TPG, Sarah led the launch of coverage of the popular Chase Sapphire Reserve travel rewards credit card in 2016.Sarah began her journalism career writing about technology for Engadget and Laptop Magazine. These jobs led to international travel to trade shows and conferences and sparked her interest in the benefits of credit cards.Sarah began learning about personal finance best practices at a young age as she tried to find balance in the face of the high cost of living in New York City. The money management skills Sarah learned during her years as a freelance editor also sharpened her financial acumen and instilled in her a passion for helping others navigate the financial challenges of running a small business, taxes, and budgeting. In her personal life, Sarah enjoys helping her friends hone their credit card strategies to book fancy hotel rooms and flights. She also enjoys telling anyone who will listen about her dog.expertiseSarah’s areas of expertise in personal finance include:

  • Credit scores
  • Credit cards
  • Loans
  • Invest
  • Banking
  • Insurance

TrainingSarah is a graduate of Sarah Lawrence College, where she wrote and edited the college newspaper.