POS lender Affirm has introduced an FDIC insured savings account with the following features: 1.30% APY, one of the highest interest rates around, No minimums or fees, ever, Optional auto-deposit to make saving effortless.
Since our founding, Affirm has been focused on reinventing the financial system by getting rid of the tricks and uncertainty that have led to the distrust of traditional banking services and credit cards. Millennials and GenZ, two generations that make up over half of Affirm’s user base, are especially suspicious of the fine print and hidden fees linked with traditional banking services. So much so that many hope to avoid them altogether. In fact, Millennials are carrying an average of $5,000 in credit card debt and most (61 percent) have less than $500 tucked away for emergencies. More broadly, 70 percent of Americans had less than $1000 in savings last year. This is why we created a better way for consumers to save