Tellus High-Yield Savings

Tellus High-Yield Savings Review

Tellus High-Yield Savings is offered by Tellus app, a nonbank financial services provider founded in 2016 and based in Palo Alto, CA. Tellus High-Yield Savings are available in 50 states (and Washington, DC).

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 5.90%, which is much higher than the average interest rate for a savings account. However, you must keep a minimum balance of $125 to earn that insterest rate.
• $0 monthly fee. This account does not charge any monthly account fees.
• $125 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.

Tellus Savings Account Pros & Cons

Tellus Savings Account FAQ

Are savings accounts from Tellus Inc federally insured?

No, your Tellus Inc savings accounts are not insured by a federal insurance agency. This means that if Tellus Inc were to fall into financial difficulties, your deposits are not covered by a government-backed insurance fund like the FDIC or NCUSIF.

Does Tellus Inc offer a signup bonus?

Tellus Savings Account doesn't offer a signup bonus.

What is the minimum initial deposit for Tellus Savings Account?

What APY does Tellus High-Yield Savings offer?

Tellus Savings Account offers a variable APY starting at 4.50% and ranging up to 5.90% (APY stands for annual percentage yield, rates may change). This is higher than the typical interest rate for online-only savings accounts, which is around 1% APY.

What fees does Tellus Savings Account charge?

Tellus Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does Tellus Savings Account offer?

This savings account includes the following features:

• Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to Tellus Savings Account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Tellus Savings Account?

The customer support email for Tellus Savings Account is support@tellusapp.com.