Save Market Savings Review 2024

Our review of Save's Market Savings Account looks at the above-average interest rates and unique investments strategy that can help you reach your savings goals.
Financial Expert
Managing Editor
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Are you comfortable with online savings accounts? Do you want the chance to earn more than the interest generally associated with a traditional savings account?

Opening a high-yield savings account offered by online financial services companies is a good way to reap these rewards, so the Save Market Savings account, which is offered by Save Advisers LLC, is definitely worth looking at.

Continue reading to learn more about this unique product and how you can use it to diversify your portfolio and reach your financial goals.

Save Market Savings At-a-Glance

  • Deposits are FDIC insured
  • Customers receive higher rates than what traditional banks provide
  • No account opening or monthly fees
  • Access to convenient customer services
  • Availability in all 50 states
  • Investment terms of one, two, or five years available
  • Account can be managed on Save’s mobile app

Which Banks Have the Best Savings Account Rates?

Finding the bank with the best savings account to meet your needs is as simple as using our search tool. Try it now and find your high-interest savings account.

Overall Impression 

A Save Market Savings account is a good choice if you’re comfortable with online banking and want to earn greater returns than traditional savings accounts offer.

Online financial institutions are known for providing higher interest rates than regular banks, but Save is slightly different. When you open an account, Save holds your deposit in an FDIC-insured bank while making investments on your behalf, which will likely lead to higher interest than you’d typically receive from a regular savings account.

Though results are not guaranteed, this option can still be the best of both worlds if you want to ensure your money is safe while potentially reaping the high rewards of online savings.

Pros and Cons of Save

Save may be a good option for some consumers, but not for others. To help you decide whether or not you want to open a Save Market Savings account, we’ve outlined some pros and cons below. 


  • Safe Deposits: Deposits are placed in FDIC-insured Webster Bank, so when the investment term expires, customers receive their money back, regardless of the returns.
  • Potential High Returns: Online banks are known for offering higher interest rates than their brick-and-mortar counterparts because they have lower overheads. This is the case with Save, but the company is different because the amount you earn on your deposit is tied to the investment made on your behalf.
  • No Monthly Fees: Save does not charge monthly fees for having an account.
  • Widely Available Service: While some online banks only provide services in limited locations, Save is available to customers in all 50 states.
  • Convenient Customer Service: Save has customer service available by phone and online chat Monday through Friday from 9 a.m. to 5 p.m. CST.


  • High Minimum Opening Deposit: While you may be able to open a high-yield savings account with a lower initial deposit at other companies, the minimum amount balance for a Save Market account is one thousand dollars, which may be too steep for some consumers.
  • Fixed Terms: When you open an account at Save, you will choose a one-, two-, or five-year term. If you need flexible withdrawals, Save may not be the best option.
  • Management Fees: As with most investment vehicles, there are management fees with Save.

Compare to Others 

To make an informed decision about any banking product, it’s a good idea to compare what other companies offer. Here is a look at other high-yield savings accounts to determine how they measure up to Save. 


Although both offer high-yield savings accounts, unlike Save, LendingClub has a savings account not connected to investments, so consumers can expect to receive interest on their money. In contrast, Save Market Savings account holders may not receive any return. LendingClub also differs in that it offers a checking account and certificate of deposit, but Save only has one financial product. 

LendingClub and Save are similar because neither company charges monthly maintenance fees on its savings accounts. Also, both companies have a mobile app where you can conveniently manage your account. 

Sallie Mae 

Sallie Mae has a high-yield, FDIC-insured savings account with no monthly maintenance fees, just as Save does. However, unlike Save, Sallie Mae does not have a minimum balance requirement, while you can’t open a Save account unless your initial deposit is at least $1,000. 


Synchrony and Save both only offer online banking, so anyone who doesn’t need to go to a physical branch can benefit from both options for their savings accounts. Also, neither company charges monthly maintenance fees. Unlike Save, however, Synchrony provides ATM cards to its customers.  

How Save Works 

Founded in 2019, Save Advisers LLC, a financial services provider based in Houston, has allowed consumers to open a savings account associated with an investment product, enabling people to earn higher returns than a regular savings account.

When you open a Save Market Savings account, your deposit is placed in Webster Bank, which is FDIC insured, while at the same time, Save invests money for you through Apex Clearing. As a result, although there are no guaranteed returns, consumers can rest assured that the money they have deposited is safe. 

When you open a Save Market Savings account, you can choose investment terms of one, two, or five years. For a one-year account, your opening deposit will be a minimum of $1,000, while you’re required to deposit at least $5,000 if you choose a two- or five-year term. At the end of the term, you will receive your deposit along with any money earned, and you will be required to pay a 0.35% management fee on those returns. 

If you need to, you can withdraw money from your account early, but you’ll be charged a fee and will forfeit any returns you may have earned. 

Who Is Save For? 

Save is for consumers who want to enjoy higher returns on their money than with a regular savings account while still benefitting from the safety of having their money FDIC insured. Also, this is a good option if you’re comfortable doing your banking online and don’t mind keeping your money in the account for a set amount of time. 

Rating the Features 

It’s only natural that you want to learn as much as possible about a company before opening a savings account. To give you an idea of what Save offers customers, we deeply dive into the features consumers care about most. 

User Experience 

Save makes the user experience easy. You can open an account by filling out the company’s online application, which only takes about ten minutes to complete. During this process, you’ll be asked for basic information about yourself — including citizenship status, contact information, and birth date — as well as details about your financial goals. Once your account has been opened, you can manage it by going to Save’s website or using the mobile app. 


One thing that sets Save apart from many other institutions is that you won’t be charged any fees for opening or maintaining your account. Instead, you’ll only be charged a 0.35% management fee assessed when your account earns returns. If your account doesn’t earn at least 0.35%, you won’t be charged any fee. 


Generally, you can expect much higher interest rates from online institutions than from traditional banks. This can certainly be true when you open a Save Market Savings account. However, it’s essential to remember that the interest rate the company offers will be tied to the performance of the investment Save makes for you with Apex Clearing. As a result, there are no guarantees of the interest your account will be able to earn. 

Minimum Deposit 

The minimum deposit for opening a Save Market Savings account depends on your chosen terms. If you want to have your account open for the one-year term, you’ll need to deposit a minimum of $1,000. If you prefer one of the longer terms, which are two- and five-year options, then your minimum required deposit will be $5,000. 

Tools & Extras 

Save has a mobile app that allows you to easily manage your account and contact the company’s customer service representatives. 

Customer Support 

Save provides several ways for customers to get the support they need. If you prefer to speak to a customer service representative on the phone, you can call the company at 1-844-940-7283 from 9 a.m. to 5 p.m. CST on Monday through Friday. If you’d rather reach Save online, you can log into your account on the app or the website to send a message or email the company at [email protected]. Also, Save has a chat feature on its website that allows you to speak to a customer service representative during business hours. 


Save provides access to customers nationwide, so no matter what state you’re in, you can open a savings account with the company. 

Safety & Security 

When you open a Save Market Savings account, the funds are insured by the FDIC for up to $250,000. Also, the money invested for you is protected by SIPC, so no matter what happens in the market, your initial deposit will never be used for investing. 

Getting Started 

Opening a savings account at Save can easily be done on the company’s website in about 10 minutes. All you have to do is fill out your personal information, such as your date of birth, phone number, and citizenship status, and then answer questions about your investment goals and how you’ll fund your account. 

Frequently Asked Questions (FAQs) 

Does Save offer checking accounts?

No, Save does not offer checking accounts. The only type of account that Save offers is the Save Market Savings account.

Can I receive an ATM to withdraw money from my account?

No, ATM cards are not provided for these accounts. You can contact customer service for assistance if you need to withdraw money.

Can I withdraw money from my account at any time?

Yes, but remember that you will not be eligible to receive any returns on your account if you do.

About Author
Kenya McCullum
Kenya McCullum is a freelance writer with expertise in personal finance. She writes about personal finance, education, and other topics that are important to consumers.
Our reviews are unbiased and thorough, focusing on consumer needs. For details, see our Editorial Policy & Methodology.