If you're subscribed to Pro or Builder* you'll get treated to 3.33% APY† on your savings. Plus you'll get access to automated Save Hacks that help you supercharge the amount you put away, all so you can reach your savings goals faster.
How much interest will I earn with Savings?
A variable rate of 3.28% rewarded monthly on the first of the month (which is based on your balance of the last day of the month) with an Annual Percentage Yield (APY) of 3.33%.
When will my Savings interest be paid?
Your interest will be added to your savings within the first week of each month.
How do I deposit funds into my Savings?
Go to Save
Tap Add underneath your savings goal
Enter the amount you wish to deposit and follow the steps
Make sure you double check the bank account you want to send from.
How do I withdraw money from my Savings?
Go to Save
Hit Withdraw
Enter the amount you want to withdraw
Make sure you double check the bank account you want to send it to.
Is there any other way for me to spend the money in my savings?
There is no card associated with Savings. You will need to withdraw the money to your nominated bank account.
Where can I find my savings statement?
Jump to your settings (the cog at the top right in Save) and select Statements. From there, you will be able to view all your deposits and withdrawals, as well as downloading a monthly PDF statement.
What are Save Hacks?
Save Hacks are automated saving methods that help you supercharge the amounts you deposit to your savings. You boost your savings with your own money, based on your spending habits:
Roundups
Every time you spend, your purchase is rounded up and the change is saved. So if you blow $4.50 on Starbucks, $0.50 will be added to your savings.
Swear Jar
Got a guilty pleasure? You'll be fined by adding cash to your savings each time you spend there. So, say you set your Swear Jar amount to $2 for every time you spend at Sephora. Whenever you blow your cash on makeup, $2 will be dunked into your savings for you.
Set and Forget
Choose how much to transfer each week and set it to save automatically.
Smart Save
The ideal amount for you to save is calculated using your spending data, and set aside for you automatically.
How do I edit my Save Hacks?
Head to Save and click the top-right arrow on Save Hacks. From the Pick your Save Hacks page, you can switch each hack on or off according to your liking.
Why was my Save Hack turned off?
If you have repeated payment failures, your Save Hacks will be automatically toggled off. Most often this is because there weren’t enough funds in your bank account at the time. Don’t worry, you'll be notified if this happens and you can easily turn your hacks back on in the app.
**The Cleo Pro subscription service offers users savings goals and hacks, challenges, and an Annual Percentage Yield (APY) on savings. Cleo is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC.
†The interest rate on your account is 3.28% with an Annual Percentage Yield (APY) of 3.33%, effective as of 12/19/2024. Rate is variable and is subject to change after account opening. Fees may reduce earnings.