Avoid CD Fees with a Simple Protected Goals Account

Bank, budget, and earn up to 2.15% APY.

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Avoid CD Fees.

No matter how carefully you plan, life can throw you financial curve balls that make it tough to save. Whether you’re putting money away for a big expense, such as a college fund or wedding, or you just want a rainy-day fund to cover unexpected emergencies, a Protected Goals Account makes it easier than ever to reach your financial goals.

No CD Fees. No CD Penalties.

Certificates of Deposit (CD) accounts are a traditional way to save, but they do come with strings attached. You may have to wait for the CD maturity date to withdraw your principal plus interest. You could also incur a CD penalty or CD withdrawal fee if you need to withdraw your money before maturity.

Unlike Certificates of Deposit (CD), you can move your money freely and use it whenever you need without limits, without the hassle, and without the fees or early-withdrawal penalties.

APY* Minimum Balance Penalties Money Movement Limits
Simple Savings Goal 2.15% APY $10,000 No No
Simple Savings Goal 2.02% APY $0.01-$9,999 No No
Discover 1yr CD 2.30% APY $2,500 Yes Yes
Citibank 1yr CD 2.00% APY $25,000 Yes Yes
Chase 1yr CD 0.02% APY $1,000 Yes Yes

*Rates accurate as of September 30th, 2019

Let Compounding Interest Do the Work for You.

With traditional accounts, your interest is compounded monthly, quarterly, or annually. With Savings Goals, you get the benefits of interest compounded monthly, putting your money to work for you.

There are no transfer limits, no fees, and no penalties. No more worrying about a CD penalty or CD withdrawal fee if you need to access your funds.

All deposits are FDIC insured up to the legal limit, giving you complete peace of mind.

How to get up to 2.15% APY

Once your Simple Checking or Shared Account is open…

  1. Open a Savings Goal (which lives inside a Protected Goals Account)
  2. Transfer funds to your Savings Goal. Balances below $10,000 earn 2.02% APY and balances $10,000 and above earn 2.15% APY.


That’s it!

Like a bank, but Simple

Banking shouldn’t be complicated. Or unfriendly. We don’t profit from customer confusion. We wake up every day excited to help our customers feel more confident with their money.

The finest print: The rates are effective as of October 1, 2019, are variable and subject to change after the account is opened. Accounts subject to approval. Balances in your Simple Account earn 0.01% Annual Percentage Yield. For the Protected Goals Account, see the rates below.

Daily Collected Balances

This means that we use the account’s
end of day balance to calculate the interest earned that day.
APY
$0.01 to $1,999.99 2.02%
$2,000 to $4,999.99 2.02%
$5,000 to $9,999.99 2.02%
$10,000 to $14,999.99 2.15%
$15,000 to $19,999.99 2.15%
$20,000 and above 2.15%

1 Check it out for yourself (based on the September 30, 2019 National Rate): https://www.fdic.gov/regulations/resources/rates/