Savings Accounts can earn 1.00% annual percentage yield (APY) interest (3.25% for Plus subscribers) on the first $25,000.00 of the balance when certain conditions are met.
To qualify for 1.00% APY (3.25% with Plus) on the first $25,000.00 in your Savings Account in a particular calendar month, you must either spend $500.00 or more with your debit card within that month* OR have a qualifying Direct Deposit into your Checking or Savings account within that month**, and have an open and active savings account on the date the interest is paid. Note that funds over $25,000.00 will earn 0.25% APY for Plus subscribers only. Without Plus, funds over $25,000.00 will not earn interest.
If the spending or direct deposit requirement is not met in a particular month, the APY for Plus subscribers will be 1.00% on the first $25,000.00 of their Savings Account balance, and 0.25% APY on any funds over $10,000.00. Standard Checking & Savings accounts have an APY of 0.00% and will not earn interest if the spending or deposit requirement is not met in a particular month.
Interest for your Savings Account is calculated based on an average daily balance and deposited into accounts once a month, usually by the fourth business day of the following month. The interest added to your total balance on a monthly basis is then considered part of your balance for future daily interest calculations, so it compounds monthly.
| APY eligibility on GreenFi Savings Accounts | Standard Savings Account | GreenFi Plus Savings Account |
|---|---|---|
| $0-$499.99 of settled GreenFi Debit Card purchases* And No Qualifying Direct Deposit within the month** |
0.00% APY |
1.00% APY on balances up to $25,000 Any portion of your balance exceeding $25,000 will earn 0.25% APY |
| $500.00 or more in Settled Debit Card purchases* Or Qualifying Direct Deposit within the month** |
1.00% APY on balances up to $25,000. Any portion of your balance exceeding $25,000 will earn 0.00% APY. |
3.25% APY on balances up to $25,000 Any portion of your balance exceeding $25,000 will earn 0.25% APY. |
Additional Terms and Conditions apply. The interest rates above are variable rates established by GreenFi and may be changed at any time by GreenFi, in its sole discretion, without any advance notice to you. Changes to interest rates may change the corresponding APY(s) described above, will be posted on this greenFi rate Sheet, to your Account, and will be visible on the GreenFi home page. Fees may reduce earnings. For complete details, refer to the Interest Rate disclosure on our policies page, and the GreenFi Interest Rate Card.
*Qualifying debit card transactions include those made with your physical or digital card, in-person or online that settle within the month. However, debit card transactions for money transfer vendors (e.g., CashApp, Venmo, Facebook Pay), Peer to Peer services and ATMs do not qualify towards the $500 spend requirement.
**A Qualifying Direct Deposit is typically a recurring deposit of regular income from your employer, payroll provider, or a government agency made via the Automated Clearing House Network. To earn the higher APY for a given calendar month, a Qualifying Direct Deposit must be received and posted to your Savings Account within the calendar month for which interest is calculated. Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g. IRS tax refunds), do not constitute Qualifying Direct Deposit activity. There is no minimum Qualifying Direct Deposit amount required to qualify for the stated interest rate. Although we do our best to identify all eligible direct deposits, some employers do not designate payments as direct deposit. If you believe your interest rate is not correct, please contact us at 800-683-8529 with the details of your direct deposit.
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