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Great for PayPal customers!



4.30% APY   |   Savings Account

Member FDIC

 Picture1Overview by Curt Fournier. Updated April 12, 2024

Boost_Bottom_LineThe Bottom Line

PayPal has a competitive rate, streamlined application, and they even let you link your PayPal balance!


Minimum starting deposit
$0 - Must fund within 60 days to remain open
Minimum balance to avoid fees
Minimum balance to obtain APY
Compounding interest
Daily, credited monthly
Ability to add co-applicant
Withdrawal options
Electronic funds transfer (EFT) to PayPal balance
Deposit options
Electronic funds transfer (EFT), linked debit card, or PayPal balance
Branch access
Boost_Pro_TipBoost Pro Tip

PayPal offers extra flexibility for deposits and withdrawals.  Their savings account is unique, allowing deposits within seconds via a linked debit card and withdrawals directly to your PayPal balance.

Here’s what you’ll need handy when opening a PayPal Savings Account:

  • PayPal username and password

  • Date of birth

  • Home address
  • Social Security Number (to verify your identity only - it won’t impact your credit score)

That's it!  It only takes 3 minutes and you can do it right on your phone.

 All featured companies offer FDIC insurance up to the maximum allowed by federal law.

Product terms and the application experience are based on the PayPal website as of April 12, 2024 and may have changed. Be sure to verify all terms and conditions with PayPal prior to applying.

Advertising Disclosure: We may earn a commission if you open an account with a featured company. Not all companies or offers are listed. Compare rates, fees, and terms before deciding.