SaveBetter (Raisin) Review: The Best Place to Go for High-Interest Savings?

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SaveBetter pools high-interest savings accounts and CDs from financial institutions nationwide, giving customers entree to high-yield accounts they different wouldn’t cognize about. But is SaveBetter nan champion measurement to unafraid nan champion savings rates? I reply that mobility and much successful this SaveBetter review.

NOTE: In June 2023, Savebetter by Raisin rebranded to simply Raisin for amended marque awareness

If this past twelvemonth has taught america anything, it’s that investments that look excessively bully to beryllium existent almost ever are. Many investors were burned by ‘can’t miss’ tech stocks and could only watch arsenic nan worth of integer assets, for illustration cryptocurrencies and NFTs, evaporated successful minutes and couldn’t prolong nan promised precocious returns.  

In a highly volatile market, deciding how to put your money is arsenic challenging arsenic ever, which is why rising liking rates person led galore investors toward nan information of savings accounts and Certificates of Deposit (CDs).

This is wherever SaveBetter comes in.

SaveBetter pools high-interest savings accounts and CDs from financial institutions nationwide, giving customers entree to high-yield accounts they different wouldn’t cognize about.

But is SaveBetter (Raisin) nan champion measurement to unafraid nan champion savings rates? I’ll reply that mobility and much successful this review.

What Is SaveBetter (Raisin)?

SaveBetter (Raisin) is simply a financial exertion institution founded successful precocious 2020 arsenic a subsidiary of Deposit Solutions, now Raisin DS. Raisin useful pinch complete 400 banks successful much than 30 countries worldwide.

What makes SaveBetter unsocial is that it’s a integer platform, not a accepted bank. SaveBetter claims to supply a integer “storefront” for banks and credit unions looking to beforehand deposit products to a larger audience.

Because nan SaveBetter level promotes products from lesser-known financial institutions, investors tin return advantage of offers they whitethorn not person had entree to otherwise.

Customers tin take betwixt savings products from FDIC-protected banks and NCUA-insured in installments unions that connection superior liking rates.

OUR PARTNER – Top Savings Accounts


Min. Initial Deposit

Key Features

Account typesSavings accounts, Money marketplace accounts, CD accounts, No-penalty CDs
Deposit InsuranceYes
Customer Service OptionsEmail, phone
Customer Service Phone Number844-994-EARN (3276)
Web/Desktop AccessYes
Mobile App AvailabilityNo

SaveBetter (Raisin) Products

With SaveBetter (Raisin), you tin easy find savings products from respective financial institutions to guarantee you’re earning nan champion imaginable yield.

You tin besides entree your savings accounts and investments nether 1 dashboard, For example, you could person a two-year fixed-term CD for your wedding savings and a high-yield savings relationship for your emergency fund, and position them some connected nan aforesaid dashboard.

High-Yield Savings Account. A accepted savings relationship pinch nary limits connected deposits and withdrawals. Allows you to gain a higher liking complaint while having changeless entree to costs erstwhile you request it.

Money Market Deposit Account (MMDA). A money marketplace account is simply a type of savings relationship astatine a slope aliases in installments national that lets you gain liking connected your money and make withdrawals.

No Penalty CD. Lock successful an charismatic complaint for a group play pinch nan expertise to make a complete withdrawal astatine immoderate constituent aft nan first 7 almanac days of backing your relationship without paying nan penalty. CD yields are usually higher than savings accounts.  

Fixed-Term CD. Your money is held for a fixed play pinch a competitory APY that allows a predictable and safe return connected your money. Fixed-term CDs connection higher rates than savings accounts and no-penalty CDs, but your money is locked successful for nan long of nan term, i.e., 1 Year, 3 Years, aliases 5 Years.

Is SaveBetter (Raisin) Legit?

SaveBetter is simply a legit measurement to invest. Even though SaveBetter isn’t a bank, your deposits pinch them are protected up to $250,000 pinch FDIC protection for slope products and NCUA sum for in installments national products.  

SaveBetter is besides a SOC 2-certified platform, and they usage different information protocols, including multi-factor authentication, encryption, and precocious net protection from Cloudflare.

While location aren’t arsenic galore SaveBetter Reviews online arsenic you would find pinch much established banks, it’s apt that nan work conscionable hasn’t been astir for agelong enough. 

How to Get Started With SaveBetter (Raisin)

screenshot of really savebetter works

Here’s really you tin get started pinch SaveBetter:

Step 1: Create your account. 

Set up an relationship pinch your unsocial username and password successful 3-5 minutes. It will inquire you for nan aforesaid accusation required erstwhile signing up for immoderate benignant of financial product. 

Step 2: Review nan different finance options.

Once your relationship has been activated, it’s clip to reappraisal nan various finance offers connected nan main page. You tin take betwixt high-yield savings accounts, fixed-term CDs, and no-penalty CDs. You’ll announcement a wide scope of products from different financial institutions, truthful you tin shop astir until you find nan astir charismatic connection for your situation. You tin besides research these options earlier creating your account. 

Step 3: Apply for offers.

You tin use for immoderate FDIC-insured merchandise listed connected nan platform. SaveBetter besides lets you operation and lucifer erstwhile it comes to nan different institutions and offerings available. For example, you tin put successful a high-yield redeeming relationship pinch Third Coast Bank and a fixed-term CD offered done Ponce Bank. 

Step 4: Fund your account.

Once you’re fresh to acquisition an finance based connected your financial goals and liquidity preferences, you will money your relationship by connecting an existing checking aliases savings relationship done Yodlee (a third-party app), aliases manually inputting your routing and relationship number for your existent banking setup.

From there, it takes astir 3 business days for nan transportation to spell through. You’ll commencement accumulating liking connected your money erstwhile nan transportation hits your SaveBetter account. 

Step 5: Manage your different investing accounts nether 1 dashboard.

With SaveBetter, you tin negociate each of your accounts nether a azygous dashboard. For added simplicity, you’ll only get 1 taxation archive from SaveBetter, moreover if you put pinch aggregate financial institutions. 

How to Get Started With SaveBetter (Raisin)

SaveBetter (Raisin) Alternatives

As an online marketplace dedicated to savings products, SaveBetter is unsocial and has nary nonstop competitor. That said, different online banks are offering charismatic rates connected high-interest savings accounts and CDs. Here are a mates of SaveBetter alternatives worthy considering.

Ally Bank

Ally is an online-only slope that besides offers high-yield savings accounts and CDs. With a 4.25% APY astatine nan clip of this writing, their savings relationship is somewhat little than what you tin find pinch SaveBetter (Raisin). Still, it offers galore features you won’t find elsewhere, for illustration recurring transfers and savings buckets. 

You besides don’t person to interest astir a minimum equilibrium aliases attraction fees pinch an Ally Bank savings account. However, if you’re looking for nan highest return for your money, SaveBetter (Raisin) rates are higher.


SoFi is an online individual finance institution and a slope that allows you to complete your financial transactions successful 1 place. You tin person a checking account, savings account, credit card, credit people search services, and various different financial products nether 1 umbrella. 

SoFi is presently offering a savings relationship pinch a 4.50% APY. You tin do each your banking successful 1 place, and you’re guaranteed to gain liking connected your money. With complete 4 cardinal users, it’s clear SoFi has go a one-stop shop for personal finance for galore folks. 

OUR PARTNER – Top Savings Accounts


Min. Initial Deposit

SaveBetter Review: Final Thoughts

If you’re looking for a spot to parkland your money successful nan short term, you should beryllium checking retired SaveBetter’s offers. At nan very least, reappraisal nan products to spot if you tin find a suitable merchandise that meets your needs. Savings accounts don’t connection nan return imaginable of semipermanent marketplace investments, but you’ll slumber good astatine nighttime knowing your money’s safe.

Even though SaveBetter isn’t arsenic established arsenic immoderate of nan big nationalist banks, and they activity pinch smaller financial institutions, cognize that your money will beryllium protected pinch deposit security while you gain a decent return.

SaveBetter (Raisin) FAQs

Since SaveBetter (Raisin) only launched successful 2020, galore investors still aren’t acquainted pinch nan company. Here are nan answers to immoderate communal questions group person astir SaveBetter.

Is SaveBetter (Raisin) safe?

Yes. SaveBetter (Raisin) connects you pinch trusted financial institutions. All of nan deposits connected nan level are held astatine institutions that are federally insured.

How overmuch does SaveBetter (Raisin) complaint successful fees?

SaveBetter (Raisin) presently doesn’t complaint customers immoderate fees for utilizing nan platform. You tin commencement investing pinch arsenic small arsenic $1 without worrying astir immoderate hidden fees you typically find pinch a banking account. 

Why doesn’t SaveBetter (Raisin) complaint immoderate fees?

SaveBetter (Raisin) generates gross by charging financial institutions to marketplace products to nan platform’s customers. By charging nan banks and in installments unions, SaveBetter tin connection customers free services and higher rates. 

How is SaveBetter (Raisin) capable to connection high-yield savings accounts that you won’t find anyplace else?

When trading to scope caller customers, smaller, lesser-known financial institutions simply don’t person nan financial resources to compete pinch nan much established banks. To pull caller customers nationwide, these banks and in installments unions connection higher liking rates to entice caller customers to enroll. 

How does SaveBetter (Raisin) clasp your funds?

When you move your costs from your outer banking account, nan costs spell from nan slope relationship to a custodial relationship pinch nan institution offering nan savings product. A federally insured banking institution aliases in installments national ever holds your money. 

Do you person to subordinate a in installments national earlier investing successful its savings products?

While you do person to subordinate a in installments national to usage its products, SaveBetter (Raisin) ensures that nan process is quick, easy, and free. This intends that SaveBetter customers tin put pinch a in installments national without paying immoderate rank enrollment fees. You will ever entree nan financial merchandise done nan SaveBetter platform. 

Which financial institutions does SaveBetter (Raisin) activity with? 

SaveBetter (Raisin) useful pinch a assortment of banks and in installments unions. Some of nan banks and in installments unions include:

– Ponce Bank
– Great Lakes Credit Union
– Idabel National Bank
– American First Credit Union
– Lemmata Savings Bank
– SkyOne Federal Credit Union
– Sallie Mae Bank

You tin find a database of banks and in installments unions and their products connected nan SaveBetter (Raisin) Explore page. 

How tin I scope SaveBetter for immoderate questions?

You tin interaction nan SaveBetter customer work squad Monday to Friday betwixt 9 a.m. and 4 p.m. EST. Their telephone number is (844-994-EARN). You tin besides nonstop an email to [email protected].

How We Review Banking aliases Financial Institutions: 

Good Financial Cents undertakes a broad reappraisal of banking and financial institutions, analyzing work offerings, customer satisfaction, and financial stability. Our volition is to supply readers pinch a balanced overview, aiding them successful their financial journey. We consistently stress editorial transparency.

We root information from these institutions, reviewing relationship offerings and different cardinal services. This data, erstwhile mixed pinch our in-depth research, forms nan instauration of our evaluation. Institutions are subsequently rated connected a scope of criteria, resulting successful a prima standing from 1 to five.
For further penetration into nan criteria we usage to complaint banking and financial institutions and our information approach, please mention to our editorial guidelines and afloat disclaimer.

Raisin Review

Product Name: Raisin

Product Description: Raisin is an innovative online savings and finance level that provides users entree to competitory liking rates crossed a assortment of European banks. It streamlines nan process of creating and managing savings accounts, making it easier for users to optimize their returns without nan hassle of navigating done different banking portals. The level emphasizes transparency, user-friendliness, and providing a divers scope of savings products.

  • [ Open An Account]

Summary of Raisin

Raisin distinguishes itself by consolidating a wide scope of savings and finance products from different European banks onto 1 accessible platform. Users tin effortlessly comparison liking rates, terms, and conditions to find nan astir suitable savings options. The level besides simplifies nan relationship creation process, enabling customers to unfastened and negociate aggregate savings accounts crossed different banks without further paperwork for each caller account. Raisin’s committedness to providing a user-friendly acquisition is evident done its straightforward interface and responsive customer support. While it opens up opportunities for higher returns connected savings, nan level chiefly features products from European banks, which mightiness beryllium a limitation for users willing successful world finance opportunities.

  • Cost and Fees
  • Customer Service
  • User Experience
  • Product Offerings


  • You tin unfastened an relationship successful 3-5 minutes.
  • Access investments from aggregate financial institutions.
  • Manage each of your accounts from a azygous dashboard. 
  • Simplified taxation reporting pinch a azygous 1099-INT document.


  • You whitethorn beryllium investing pinch little established FIs.
  • No online measure salary aliases checking services available.
  • Limited customer work is only disposable betwixt 9 AM and 4 PM EST.