Experian Makes Saving Even Smarter With New High Yield Digital Savings Account

Experian has launched a new high-yield Experian Smart Money Digital Savings Account that sits inside its existing membership ecosystem and is designed to help members earn more interest on their cash while they manage their overall financial health.

Key features

• Variable APY tiers of 2.00%, 3.00% or up to 4.00% depending on Experian membership status, with the top rate advertised as nearly 10× the average U.S. savings rate.

• No minimum deposit to open and no direct deposit requirement; you just need at least 0.01 dollars in the account to earn interest.

• Interest compounds daily and is paid monthly, which helps balances grow faster than with simple interest.

• Fully digital account integrated into Experian’s app and services, so you can view savings alongside credit monitoring and other tools.

Automation and “Round Up” savings

• If you also have an Experian Smart Money Digital Checking Account and an eligible paid membership, you can turn on a Round Up feature that rounds each debit card purchase to the nearest dollar and moves the spare change into the savings account automatically.

• This setup is marketed as a way to build emergency savings or specific goals passively from everyday spending.

How it compares

• The top 4.00% APY is competitive but not the absolute highest in the market; some online banks and fintechs still advertise higher rates (for example, around 5% in some cases), though those may have balance caps or extra requirements.

• Experian’s pitch is less about “market‑leading” yield and more about having savings, credit tools, monitoring, and an AI assistant in one place to support broader financial wellness.

Things to watch

• The APY is variable and can change at any time, and your Experian membership level can affect which APY tier you actually receive.

• As with any savings account, you’ll want to check current APY, fee disclosures, and FDIC‑insurance details via the issuing partner bank (Community Federal Savings Bank is listed as the banking provider and card issuer for the Smart Money program).

If you tell me your approximate savings balance and whether you already use Experian, I can walk through how much interest you might earn here versus a top‑yield online savings account and what to consider before opening one.