Optional Savings Account

Put your cash to work

Earn up to 3.00% APY¹ with no hidden fees, no minimum balance, and FDIC insured through our partner MetaBank®, N.A. Start earning up to 60x the national average2.

Get Started on the app
Porte App

Porte Savings Account

saving rate

Annual Percentage Yield

High Yield.2 Pay no account fees. $0 minimum to open.1

We make High-Yield Savings easy. No additional fees or minimum balance. Activate savings and start earning up to 3.00% APY. Compare that to the national average of .05% APY.2

national saving rate
 

Qualifying for an optional Savings Account is as easy as 1, 2, 3.

The 3.00% APY1 High-Yield Savings Account is only available to members who have received a qualifying Direct Deposit to their Porte account.

  • Set up Direct Deposit

    $1,000 or more per month with Direct Deposit

  • Open Savings Account

    Get started at the click of a button

  • Move money to savings

    Start earning up to 3.00% APY1

You work hard. Your savings should work as hard as you do.

APY, or Annual Percentage Yield, refers to how much money you earn on compound interest over the course of a year. We make transfers to your Savings Account easy, so you can watch your savings grow. Now that is making your money work for you!

saving rate

Finally, High-Yield Savings that isn’t too good to be true

  • No fees. Ever.

    Say goodbye to monthly Savings Account fees. It’s your money. You should keep it.

  • FDIC insured

    Keeping your money safe is our top priority. Your funds are FDIC insured through our partner, MetaBank®, National Association.

  • No minimum balance

    $10 or $10,000. No amount is too small to earn 3.00% APY1 on balances up to $15,000. No additional deposits required.

  • Sign up with the Porte app3

    Open a Savings Account from the dashboard after receiving a qualifying direct deposit. Let’s get started!

signup section

Open a Porte account today to start earning up to 3.00% APY1.

Apply for an account from the Porte app3. No credit check required.4

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  • The optional Savings Account linked to your PORTE deposit account is made available to Accountholders through MetaBank, National Association, Member FDIC. To open a Savings Account, consent to receive communications from us in electronic form is required. Interest is calculated on the Average Daily Balance(s) of the Savings Account and is paid quarterly.

     fdic-member

    • If the Average Daily Balance is $15,000.00 or less, the interest rate paid on the entire balance will be 2.97% with an annual percentage yield (APY) of 3.00%.

    • If the Average Daily Balance is more than $15,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $15,000.00 will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $15,000.00 or less will be 2.97%. The APY for this tier will range from 3.00% to 0.50%, depending on the balance in the account.

    The interest rates and APYs of each tier may change. The APYs were accurate as of 1/1/2021. No minimum balance to open Savings Account or obtain the yield(s). However, you must receive direct deposit(s) totaling at least $1,000 within one (1) calendar month to be eligible to open a Savings Account. Savings Account funds are withdrawn through the Porte Account (maximum 6 such transfers per calendar month) and transaction fees could reduce the interest earned on the Savings Account. Funds on deposit are FDIC insured through MetaBank, National Association. For purposes of FDIC coverage, all funds held on deposit by you at MetaBank, National Association, will be aggregated up to the coverage limit, currently $250,000.00.

  • The national rate is posted by the FDIC and are calculated based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. More details about the calculation may be found at: https://www.fdic.gov/regulations/resources/rates/#one. The national rate for savings accounts is reported by the FDIC as 0.05 % APY as of 01/04/2021. This data is verified on a quarterly basis.

    The Porte savings rate and how it compares to the national rate may be found here: https://www.portebanking.com/Porte-Savings-Rate/. This information is updated quarterly.

  • Standard data rates, fees, and charges may apply.

  • IMPORTANT INFORMATION FOR OPENING A NEW DEPOSIT ACCOUNT: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens an Account. WHAT THIS MEANS FOR YOU: When you open an Account, we will ask for your name, address, date of birth, and your government ID number. We may also ask to see a copy of your driver’s license or other documents at any time. All Accounts are opened subject to our ability to verify your identity by requiring acceptable types of identification. We may validate the information you provide us to ensure we have a reasonable belief of your identity. If we are not able to verify your identity to our satisfaction, we will not open your Account or we may close the Account if it was previously funded. Your Account is subject to fraud prevention restrictions at any time, with or without notice.

PORTE is a deposit account established by MetaBank®, National Association, Member FDIC. Certain products and services may be licensed under U.S. Patent Nos. 6,000,608 and 6,189,787.

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