Beginning Friday, Dec. 9, 2011, we will be reducing our APY to .70%. Interest rates on deposit accounts at many banks have been declining over the past year due to poor market conditions. Likewise, the rate on your SmartyPig savings account is being reduced as a result of these same economic conditions. This rate change will affect savings accounts with $50,000 or less in aggregate balances. Account balances of more than $50,000 will remain at .50% APY.
SmartyPig remains a strong competitor in the marketplace due to our strong interest rate, no fees, and cash-back options of up to 11% from your favorite retail and travel companies. These incentives, as always, allow you to get the most money for your money when you use SmartyPig, where we help reverse the credit card mindset of “buy now, pay later.”
We welcome your feedback, and we appreciate you saving with SmartyPig.
The SmartyPig team