PUT YOUR CASH 
TO WORK
PUT YOUR CASH TO WORK
2% APY on balances of $50,000 or more.¹
Interest, that’s simple.
Start earning on your first $50k.
Earn on every dollar
On any day your ending balance is $50,000 or more, the entire balance earns 2% APY, not just the amount above the line.
How we compare
One rate, no plan to pay for.
How we compare
APY
2% APY¹ on your entire balance
1.19% to 3.21% APY, depending on plan²
1.3% to 3.3% APY, depending on plan³
Plan needed for the top rate
None. No plans, no subscriptions
Scale plan, $120/mo ($90/mo limited-time discount)²
Premier plan, $95/mo (fee can be waived)³
Rate with no monthly plan fee
2% APY¹
1.19% APY on Starter²
1.3% APY on Standard, if you spend $500/mo on the card or receive $2,500/mo in customer payments³
Balance to earn
$50,000 end-of-day balance
No minimum balance²
Standard and Plus earn on balances up to $250,000³
Where it earns
A separate savings account
A separate savings account²
Interest on checking³
2% APY on your entire balance, on any day your ending balance is $50,000 or more. The rate is variable and may change.
$50,000. You open it with a transfer from your Novo checking account. After that, you can add any amount. To keep earning 2% APY, keep at least $50,000 in it.
Every month.
No. Novo Savings does not move money to checking automatically, including to cover a low balance. You manage both balances, and you can move money between them anytime.
Yes. You open and fund savings from Novo checking.
Yes. Eligible deposits in Novo Savings are insured up to $5,000,000 per depositor through Middlesex Federal Savings, F.A., Member FDIC, and other banks in its sweep network. See how FDIC insurance works with Novo.