Personal Savings
A simple savings account fit for everyone.
- No minimum balance or penalties
- Earns dividends - Click for rate information
- Access account information and transfer funds using Digital Banking or the mobile app
- Can be used for overdraft protection on your Magnifi Financial checking account
Money Market
It's a savings account with higher dividends. The more you deposit, the higher your return.
- Seven rate tier levels that earn you higher dividends as you deposit more money - Click for rate information
- $2,500 is required to open an account, that balance does not need to be maintained
- No monthly fees or penalties
- Can be used for overdraft protection on your Magnifi Financial checking account
Save the Change
It's like an electronic coin jar! Magnifi Financial debit card purchases are automatically rounded up to the next whole dollar amount and are transferred from checking into this account.
- Must enroll in Digital Banking and eStatements to earn a higher dividend rate
- No monthly fees or penalties
- Withdraw funds at any time without losing dividends
- Can be used for overdraft protection on a Magnifi Financial checking account
My Goal Savings
A "My Goal Savings" account allows you to create a reserved fund geared towards a specific life event or goal.
- Create an automated deposit based on your budget and schedule which can change throughout the term of the account
- Monthly deposits must total $20 - $400
- Earns higher dividends than a Personal Savings account - Click for rate information
- Maturity date is one year from open date with the ability to set the date earlier. You have the ability to "catch-up" the deposit amount if you set an earlier maturity date on the day of account opening.
- Ability to open an unlimited number of goal accounts
Ideas for a My Goal Savings Account
- Holidays
- House down payment
- Renovations
- New car
- Vacation
- Baby
- Wedding
- College
- Graduation or Anniversary Party
- Emergency Fund
- Payoff Debt
- Fun Money
Certificates
Put your money into a higher-yielding certificate account. Your money is safe and secure with a variety of terms.
Youth Savings
Kids can start saving while earning prizes with each birthday and deposit. Learn more about kids savings accounts.
Health Savings
Save for health expenses while earning tax-free dividends. Now earn even more money with no service fee.
IRA
Plan for retirement with IRA accounts and other retirement planning accounts. Open an account or work with an advisor.
Savings Rates
Effective Date: 2/1/2025
Savings Accounts
| Account Type | Dividend Rate | APY | Min. Opening Deposit | Min. Balance to Earn APY | ||||
|---|---|---|---|---|---|---|---|---|
| Share | 0.05% | 0.05% | $5 | $5 | ||||
| My Goal Savings* | 1.391% | 1.40% | $5 | $0 | ||||
| Savings | 0.15% | 0.15% | $0 | $0 | ||||
| Save the Change | 0.45% | 0.45% | $0 | $0 | ||||
| Account Type Share | Dividend Rate | 0.05% | APY | 0.05% | Min. Opening Deposit | $5 | Min. Balance to Earn APY | $5 |
| Account Type My Goal Savings* | Dividend Rate | 1.391% | APY | 1.40% | Min. Opening Deposit | $5 | Min. Balance to Earn APY | $0 |
| Account Type Savings | Dividend Rate | 0.15% | APY | 0.15% | Min. Opening Deposit | $0 | Min. Balance to Earn APY | $0 |
| Account Type Save the Change | Dividend Rate | 0.45% | APY | 0.45% | Min. Opening Deposit | $0 | Min. Balance to Earn APY | $0 |
Money Market Rates
| Balance | Dividend Rate | APY | Min. Opening Deposit | |||
|---|---|---|---|---|---|---|
| $0 - $2,499 | 0.50% | 0.50% | $2,500 | |||
| $2,500 - $9,999 | 0.50% | 0.50% | $2,500 | |||
| $10,000 - $24,999 | 0.55% | 0.55% | $2,500 | |||
| $25,000 - $49,999 | 0.65% | 0.65% | $2,500 | |||
| $50,000 - $99,999 | 0.85% | 0.85% | $2,500 | |||
| $100,000 - $149,999 | 0.95% | 0.95% | $2,500 | |||
| $150,000+ | 1.144% | 1.15% | $2,500 | |||
| Balance $0 - $2,499 | Dividend Rate | 0.50% | APY | 0.50% | Min. Opening Deposit | $2,500 |
| Balance $2,500 - $9,999 | Dividend Rate | 0.50% | APY | 0.50% | Min. Opening Deposit | $2,500 |
| Balance $10,000 - $24,999 | Dividend Rate | 0.55% | APY | 0.55% | Min. Opening Deposit | $2,500 |
| Balance $25,000 - $49,999 | Dividend Rate | 0.65% | APY | 0.65% | Min. Opening Deposit | $2,500 |
| Balance $50,000 - $99,999 | Dividend Rate | 0.85% | APY | 0.85% | Min. Opening Deposit | $2,500 |
| Balance $100,000 - $149,999 | Dividend Rate | 0.95% | APY | 0.95% | Min. Opening Deposit | $2,500 |
| Balance $150,000+ | Dividend Rate | 1.144% | APY | 1.15% | Min. Opening Deposit | $2,500 |
APY = Annual Percentage Yield.
Rates are subject to change without notice. Dividends compound monthly.
Rates are subject to change without notice. Dividends compound monthly.
1 - Penalty for early withdrawal. Maximum deposit of $100.00 per week.
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