SaveBetter.com (Raisin) Review: High-Yield Savings Accounts in 2024

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Written by Enoch Omololu
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A high-yield savings account pays you interest at a significantly higher rate than what you’d earn on a standard savings account.

It’s the key to growing your emergency funds and other monies you have set aside for short-term financial goals.

Given that the current savings rates offered by big banks are pretty low, these days, you will need to look elsewhere for high-interest rates.

SaveBetter.com gives you access to an online savings marketplace where you can compare high-yield savings accounts in the United States.

What is a High-Yield Savings Account?

Simply put, a high-yield savings account pays you a high-interest rate on your savings account.

Compared to the low annual percentage yields (APY) being offered by traditional banks, high-yield saving account rates can be 10-30 times higher.

This means that your account grows faster and has some chance to maintain or increase your purchasing power after factoring in the inflation rate.

A high-yield savings account can be used to save for various financial goals, including a vacation, home down payment, car purchase, emergency fund, and more.

Many high-yield savings accounts are offered by digital or online-only banks.

What is Raisin (SaveBetter.com)?

Raisin, formerly SaveBetter, is a financial technology company that provides access to savings products from banks insured by the Federal Deposit Insurance Corporation (FDIC).

The company is owned by Raisin, which works with financial institutions in more than 30 countries.

Raisin has facilitated billions of dollars in deposits over the years and is backed by well-known investors, including Peter Thiel (PayPal’s cofounder).

The SaveBetter platform offers users a dashboard that can track all their savings through SaveBetter.com in one place.

Best High-Yield Savings Account Rates

Below are some of the best high-yield savings accounts and money market deposit accounts currently offered on the SaveBetter platform:

1. The State Exchange Bank High-Yield CDs

The State Exchange Bank was established in 1901 and has its headquarters in Lamont, Oklahoma. It is a locally-owned independent community bank.

The State Exchange Bank has a high-yield savings account at 4.20% APY.

The bank recently launched competitive short-term CD rates as follows:

  • 4 month high-yield CD: 3.00% APY
  • 7 month high-yield CD: 3.00% APY
  • 9 month high-yield CD: 3.20% APY
  • 13 month high-yield CD: 3.75% APY
  • 24 month high-yield CD: 1.36% APY
  • 36 month high-yield CD: 1.51% APY
  • 60 month high-yield CD: 1.71% APY

These high-yield CDs are FDIC insured and have no fees.

Visit The State Exchange Bank

2. Ponce Bank Money Market Deposit Account

Ponce Bank was launched in 1960 and has branches in the Bronx, Manhattan, Brooklyn, Queens, and Union City in New Jersey.

It is a Community Development Financial Institution (CDFI). Its Money Market Deposit Account has the following features:

  • APY: 5.15%
  • Minimum deposit: $1
  • Security: FDIC-insured

Interest is calculated daily and paid out at the end of each month.

Ponce Bank also offers the following Certificate of Deposit (CD) products:

  • Ponce Bank 30-day high-yield CD – 4.90% APY
  • Ponce Bank 36 month high-yield CD – 4.00% APY
  • Ponce Bank 36 month high-yield CD – 3.10% APY
  • Ponce Bank 11 month high-yield CD – 1.21% APY
  • Ponce Bank 13 month high-yield CD – 1.31% APY
  • Ponce Bank 48 month high-yield CD – 1.61% APY
Visit Ponce Bank

3. Patriot Bank High-Yield Money Market Deposit Account

Patriot Bank is a leading community and commercial bank founded in 1994 and based in Stamford, Connecticut. 

It has branches in CT and New York and provides access to a high-interest Money Market Deposit Account exclusively through the SaveBetter platform with the following features:

  • APY: 4.75%
  • Minimum deposit: $1
  • Security: FDIC-insured
Visit Patriot Bank

4. Liberty Savings Bank High-Yield Savings Account

Liberty Savings Bank is a leading family-owned community bank headquartered in Ohio. It was founded in 1889 and has branches in the Sarasota-Manatee County area of Florida. 

It offers high-yield savings accounts with rates up to 17.7 times the national average APY. You can access this exclusive rate offer through the SaveBetter platform with the following features:

  • APY: 3.50%
  • Minimum deposit: $1
  • Security: FDIC-insured
Visit Liberty Savings Bank

5. Continental Bank High Yield Savings Account

Continental Bank is a privately owned FDIC-insured financial institution founded in 2003.

Its headquarters is located in Salt Lake City, Utah.

The high-yield savings account from Continental Bank offers:

  • APY: 4.41%
  • Minimum deposit: $1
  • Security: FDIC-insured

The interest is calculated daily and paid out at the end of each month. Continental Bank also offers no-penalty Certificates of Deposit (CDs) with various terms and fixed-term CDs.

Visit Continental Bank

How to Open a High Yield Savings Account with SaveBetter.com

One of the benefits of the SaveBetter platform is that it allows you to hold multiple savings products from different banks in one place.

To get started, sign up for a high interest savings product below:

SaveBetter Savings Accounts sign up

The sign-up process takes only a few minutes.

Link your bank account and transfer the funds you want to save to the savings product you choose, held by SaveBetter’s custodian bank.

Easily add other high interest savings products or CDs to your account when you want.

One additional benefit of the platform is that there are no fees for using it to access high-interest savings account offers.

Are High-Yield Savings Accounts Safe?

The savings accounts available on the SaveBetter platform are all FDIC-insured.

These accounts are federally insured for up to $250,000 per depositor, per insured bank, and per ownership category.

If the bank fails, you are protected up to the insured limits.

What to Look For in a High-Yield Savings Account

When shopping around for a high-interest savings account, watch out for the following features:

Interest Rate: The offered interest rate should be competitive and worth your time. Ever seen those 0.01% APY offers? Those don’t cut it if you are looking to grow your account.

Promotional Offers: Check whether the posted rate is promotional for a specific length of time or whether it is the standard rate.

Also, confirm whether the interest rate is tiered based on your account size. The best high-yield accounts pay you a great rate on your entire balance.

Required Minimum Deposit: Some accounts have no minimum, while some require that you deposit a large chunk of cash before you can earn interest. The lower the minimum deposit, the better.

Fees: Does the high-yield savings account have a fee? Preferably, you should be able to make a limited number (e.g. up to six) or even unlimited numbers of withdrawals each month without paying a penalty.

Link Other Bank Accounts: You should be able to link accounts at other financial institutions easily.


A high-yield savings account offers a way to keep your money in a low-risk environment while earning some returns.

For some of the best offers currently available, visit the links for each offer above.

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Gravatar for Enoch Omololu

Enoch Omololu

Enoch Omololu is a personal finance expert who has a passion for helping others win with their finances. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School and has been writing about money management for over a decade. Enoch has been featured in several leading personal finance publications including MSN Money, The Globe and Mail, Wealthsimple, and the Financial Post.

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