You shouldn’t have to settle for almost no returns just to save money. Most traditional banks still only provide savings accounts with an APY of less than 0.50%, which implies that your money is losing value because of inflation.Raisin (previously SaveBetter) is a better option: it’s one simple platform that connects you to a marketplace of banks insured by the Federal Deposit Insurance Corporation (FDIC) and credit unions insured by the National Credit Union Administration (NCUA), all competing to give you some of the best savings and certificate of deposit (CD) rates in the country. Raisin (SaveBetter) Review: Pros, Cons,
As of December 2025, the FDIC says that the average interest rate on savings accounts in the US is 0.39%. If you put your money in a standard savings account with ordinary interest rates, it will take a long for the interest to build up.
You can, however, put your savings into a high-yield savings account. Raisin can assist you identify accounts with the best APYs if you need support.
Bonus: If you use the code HEADSTART when you sign up, you might get up to $1,500 in bonus money.
What Is a Raisin?
Raisin is an online platform that connects savers to top-notch interest rate opportunities on savings products. While Raisin isn’t a bank itself, it partners with banks and credit unions to offer the products you’ll see through the platform.
Raisin negotiates higher interest rates for savings products directly through partner financial institutions. With that in mind, the rates you see on Raisin are typically higher than you’ll find if you head directly to the partner bank’s website. Typically, Raisin works with regional banks and other mid-sized financial institutions.
The whole concept of Raisin is similar to brokered CDs (certificates of deposit), which have been offered through investment firms like Fidelity and Schwab for decades. Raisin (SaveBetter) Review: Pros, Cons,
Raisin was founded in 1973. Raisin has been using a similar business model in Europe for decades. In 2023, SaveBetter (the US-version of Raising) fully rebranded to their parent company’s name.
What Does It Offer?
Raisin represents a useful opportunity for savers. The company negotiates higher interest rates with partner banks, which means you’ll often find above-average rates.
Raisin is able to make these negotiations work because banks tend to spend a lot of money on advertising. Instead of paying for traditional advertising, partner banks get their offer in front of a built-in audience through Raisin. It’s a win-win for everyone.
When you sign up for the account, you can view your funds through Raisin’s online dashboard. But the funds themselves will be stored in a custodial account at the financial institution, which means your funds are pooled with other Raisin customers. This is very similar to the custodial model of brokered CDs.
Here’s a closer look at what the platform offers:
High-Yield Savings Accounts
High-yield savings accounts can come with very attractive interest rates. If you are looking to make the most of your savings, Raisin can help you find the top offers from their partners.
A search for top high-yield savings accounts on Raisin showed several accounts with APYs (annual percentage yields) of 4.31% or higher. When compared to the national average of 0.40%, it’s clear that you’ll earn more money on your savings through one of the accounts on offer. Raisin (SaveBetter) Review: Pros, Cons,
Money Market Accounts
A money market account might be the right place to store your savings. If you want to move forward with a money market account, Raisin can help you find relatively high rates.
Raisin was advertising several money market accounts with an APY of 4.00% or higher. In contrast to the national average of 0.56% APY, savers can earn more through Raisin’s advertised rates than most other money market platforms. Raisin (SaveBetter) Review: Pros, Cons,
CD Accounts
A certificate of deposit (CD) works by locking up your funds for a set period of time. In exchange, you’ll lock in an interest rate for the duration of the CD. Most regular CDs charge an early withdrawal penalty if you need to take the funds out before the maturity date. However, no-penalty CDs allow you to pull your funds at any time without a fee.
Through Raisin, you can find traditional and no-penalty CDs with relatively high interest rates. For example, you can find a 6-month CD with a 3.90% APY, which is significantly higher than 1.57% APY, the national average rate for 6-month CDs.
There were several comments on our review about users saying they love the rollover feature that makes it easy to buy new CDs when your current CD matures. Raisin (SaveBetter) Review: Pros, Cons,
Notably, checking accounts are missing from Raisin’s platform.
What Are The Downsides?
The biggest downside to Raisin is that, since it leverages a “brokered” model, you are limited in how you can deposit and withdrawal your funds.
Unlike a traditional savings account where you get a bank account number and routing number, with Raisin, you must do everything through their platform. Your funds are safe and FDIC or NCUA insured at the partner bank, but since it’s in a custodian account, you can’t do things like direct deposit or wire transfers.
You must login to the Raisin portal and set up all your transfers to your linked bank account. That’s it. Depending on how you want to use your savings account, this could be a dealbreaker. In our Raisin review video, one of the commenters asked how long these transfers usually take. Our experience has been that transfers done via ACH take the usual 1-2 days to arrive. Raisin (SaveBetter) Review: Pros, Cons,
Contact
If you need to get in touch with Raisin, you can email service@raisin.com or call 844-994-3276. Customer support is available from Monday to Friday from 9 a.m. to 4 p.m. EST.
Raisin has a lot of positive reviews on Trustpilot, with a score of 4.4 our of 328 reviews. Negative feedback seems to center on customer service problems, while good feedback tends to appreciate access to high APYs (annual percentage yields), which are the rates of return on savings accounts.
How Does Raisin Compare?
Raisin isn’t the only opportunity for savers looking to find top-notch products. If you don’t want to work on the Raisin platform, consider Current, CITBank, or Upgrade. All offer relatively high APYs.
Current offers 4.00% on up to $6,000 in savings, fee-free overdraft, and no monthly minimums or hidden fees. It offers a place for you to manage your money in one place, including debit, card, paycheck, savings, and even crypto.
CITBank has CIT Platinum Savings that has a minimum opening deposit of $100 and an APY of up to 3.75%. Keep in mind that in order to secure that rate, you must maintain a minimum $5,000 balance.
Upgrade has no minimum deposit and you can earn up to 3.05% on their savings. There are also no monthly fees to worry about either. If you’re concerned that Raisin doesn’t offer checking, Upgrade has Rewards Checking, which is a solid online checking account with no monthly maintenance fees, no ATM fees, and no transfer fees. Raisin (SaveBetter) Review: Pros, Cons,
Raisin 2026 Bonus Offers
Raisin is currently offering a fantastic tiered bonus for new deposits. Raisin is a platform that connect you with savings accounts, money market accounts, and CDs. Their partners offer some of the highest interest rates available.
Right now, they are offing the following tiered bonus, paid in quarterly installments:
- Deposit $10,000 – $24,999: $70 Cash Bonus
- Deposit $25,000 – $49,999: $175 Cash Bonus
- Deposit $50,000 – $99,999: $350 Cash Bonus
- Deposit $100,000 – $199,999: $750 Cash Bonus
- Deposit $200,000 or more: $1,500 Cash Bonus
You can also add more funds anytime before the next bonus deadline to move up a tier and earn even more.
This bonus is open to all new customers for all products. The first deposit date must be between January 15, 2026 at 12:00 AM and February 28, 2026 11:59 PM. Customers must input the code `HEADSTART` at the time of sign-up to qualify. Funds must be deposited within 14 days and maintained for 90 days. Raisin (SaveBetter) Review: Pros, Cons,
Raisin also has a refer-a-friend program. You can earn up to $2,000 in referral bonuses when you refer a friend who makes a qualifying deposit. See site for details.
How Do I Open An Account?
The process starts by reviewing the savings products available. If you spot a savings product that suits your needs, click the ‘Save Now’ button. From there, you’ll be asked to create an account.
Be prepared to provide your email, a password, name, Social Security Number, and funding account information. Keep in mind that you’ll need to be 18 years old to get started.
Is It Safe And Secure?
Most importantly, Raisin partners with FDIC and NCUA-insured financial institutions. As a saver, you can breathe easy knowing that your funds are protected for up to $250,000.
Additionally, the Raisin platform is SOC 2-certified. In other words, the platform has extensive security measures in place to protect your information. Raisin (SaveBetter) Review: Pros, Cons,
Is It Worth It?
If you are looking for a high APY (annual percentage yield) on a savings product, Raisin presents a worthwhile opportunity. Not only does Raisin make it easy to find relatively high APYs, the platform also makes it easy to lock in the opportunity.
However, you might not want to work through this platform. If you aren’t comfortable working with Raisin, consider checking out your other high yield savings account options today. Raisin (SaveBetter) Review: Pros, Cons,
Common Questions
Is Raisin legit and FDIC insured?
Yes. Raisin partners with FDIC-member banks and NCUA-member credit unions. Your deposits are insured up to $250,000 per institution, just like if you opened directly with the bank.
How does Raisin make money?
Raisin earns a fee from partner banks and credit unions for bringing in deposits. You don’t pay any account fees to Raisin.
Does Raisin affect my taxes?
Interest you earn through Raisin is reported on a 1099-INT form, just like with any other bank account. You’re responsible for reporting the income on your tax return.
Is Raisin better than opening directly with a bank?
It depends. Raisin makes it easier to shop across multiple institutions and often offers exclusive rates you might not find on a bank’s own website. However, some people prefer the direct relationship and additional services a bank may provide. Raisin (SaveBetter) Review: Pros, Cons,