Grow idle cash into future opportunity
Protect your funds with up to $50 million in federal insurance and enjoy up to 3.00% APY with a high-yield savings account with Devote
US nonprofits are losing billions each year
in interest by storing their money with big banks
starting at
3.00%
starting at
0.25%
starting at
0.01%
starting at
0.01%
*Rates as of February 28, 2024
Let’s take the example of an organization with $5,000,000 in a Devote account at 3.00% APY.
This account would generate $155,000 in one year. Multiply this over a 5 year period and we’re looking at about $1 million in extra funding!
What could your organization do with an extra million dollars over the next 5 years?
How it compares
Devote’s high-yield savings account is truly unparalleled when compared to other options available to nonprofit organizations in the market. With its exceptional features and benefits tailored specifically for nonprofits, it stands out as a secure and efficient financial tool to help organizations meet their goals effectively.
Federally Insured
Your Deposits are federally insured, with up to $50 million of coverage per tax ID. Funds are spread among multiple institutions to offer a higher level of insurance compared to a single institution
Competitive Interest Rates
With hundreds of banks and credit unions in network your account receives consistently high yields well above generic bank interest accounts.
Next Day Liquidity
Access to next day liquidity with no penalties. You can withdraw your funds with ease at any time without incurring any fees or penalties.
No Account Fees or Penalties
There is no cost to open or maintain your account, and no hidden fees.
FAQs
-
The first deposit needs to be at least $1,000. Any amount can be deposited every time after.
-
There are no fees of any kind to store, deposit, or withdraw funds from the savings account.
-
Organizations typically maintain cash reserves or restricted funds in unprotected, low-yield savings accounts, missing out on potential growth opportunities. Nonprofits can leverage idle cash by depositing it into interest-bearing accounts, allowing them to earn interest while safeguarding their funds with up to $50 million in FDIC insurance.
-
High-yield accounts are a safer option compared to traditional investments, offering increased interest rates while backed by FDIC insurance, ensuring protection for deposited funds.
-
High-yield accounts typically function similarly to regular savings accounts but offer higher interest rates. They work by allowing individuals to deposit money into the account, and the financial institution pays interest on those funds.
-
Determining the "best" high-yield savings account can vary based on individual needs and preferences. Several factors contribute to what might be considered the best, such as interest rates, fees, minimum balance requirements, ease of access, customer service, and additional perks or features.
Save smarter, starting now.
Apply for an account in minutes.
Tell us about your organization.
We’ll need some organization info, like your address and EIN number.
Add money to your account.
The faster you fund, the sooner you’ll earn interest. No fees of any kind. Ever.
Enjoy the ease of using Devote.
Start exploring (and enjoying) everything we have to offer.
