Save Market Savings Program with 4.45% Target Return Delivers Rare Innovation to Traditional Savings

More than $150 million has been committed by signups exceeding 9,000 accounts for Save's new high-yield savings program

HOUSTON, Aug. 17, 2022 /PRNewswire/ -- Save®, a financial company that helps people earn higher yields on their spending and savings, announced that the Save Market Savings program has launched with a market-leading annual target return between 4.45% and 9.50%,¹ depending on the program term selected.

SEC-registered investment adviser; Save, expects the return potential of its Market Savings program to be higher than any high-yield savings accounts currently available and without risk to customers' deposits.²

Customers' deposits are FDIC insured up to the standard maximum deposit insurance amount, which is currently $250,000 per depositor, per bank, per ownership category. The target return is not guaranteed but will vary according to market performance.

The Market Savings program seeks to provide returns to customers through an investment by Save into a diversified portfolio of exchange-traded funds (ETFs) representing stocks, bonds, real estate, and commodities based on the customer's investment profile. Additionally, Save expects to add a range of investment portfolios including sustainable investments and alternative asset portfolios.

"Traditional bank savings accounts haven't evolved with the times and rates of inflation. This is why we're bringing an entirely new approach to creating savings returns for our customers," said Michael Nelskyla, Founder and CEO of Save. "High inflation and market volatility are top of mind for many people and businesses, and the Save Market Savings program addresses some of those concerns and supports our customers' financial and savings goals."

Save expects the U.S. Market Savings program and its Savetech platform to help attract several billion dollars in savings over the next three years.

"Everyone should have access to sophisticated investment strategies, to get the highest market returns possible while keeping their investments safe," said Adam Watts, President and COO of Save. "We believe our Savetech platform is one the most important new bank deposit innovations in a century because it fundamentally changes how people save and create wealth." 

Learn more about the Market Savings program by visiting joinsave.com.

Save® Advisers, LLC ("Save®") is an SEC-registered investment advisor and banking solutions provider that is bringing sophisticated investments to consumers looking for higher returns on their savings without risks of the stock market. Save was created by a team of financial industry veterans and technologists with experience at such well-respected financial firms and organizations as Goldman Sachs, UBS, and NASA. Learn more at www.joinsave.com. Follow and connect with Save on LinkedIn, Facebook, Instagram, and Twitter.

¹ To obtain FDIC insurance coverage, customer funds provided will be deposited into non-interest bearing accounts at Webster Bank. FDIC insurance coverage for funds deposited at Webster Bank is limited to not more than $250,000 per depositor, per FDIC-insured bank, per ownership category. Actual deposit insurance coverage may be lower if you have other funds deposited at Webster Bank, N.A.. Customers are responsible for determining the amount deposited in each account at Webster Bank, N.A., and for monitoring the total amount of their deposits at Webster Bank, N.A., to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. Learn more at: https://www.fdic.gov/deposit/deposits. Only the funds customers' provide and deposit with Webster Bank, N.A. will be eligible for FDIC insurance. When customers deposit funds into accounts at Webster Bank, N.A., Save will purchase for its customers investment contracts that will be held separately in, and generate market returns from, an Apex Clearing Corporation account. Webster Bank is not providing any investment advice or responsible for the purchase or performance of any investment contracts. The funds held in the Apex Clearing Corporation accounts are not FDIC-insured, are not bank guaranteed, and may lose value with a minimum return of zero. Maximum balance and transfer limits apply. Neither Save Advisers, LLC, nor its affiliates, are a bank. Apex Clearing Corporation is a member of the Securities Investor Protection Corporation ("SIPC"), formed by Congress to protect "customers" of broker-dealers and to promote public confidence in the U.S. securities markets. Customers of a SIPC Member that fails financially are afforded certain benefits under the Securities Investor Protection Act ("SIPA"). These benefits are relevant only if the broker-dealer that "carries" a customer's account fails and is liquidated under SIPA. At Apex Clearing Corporation, your investments are protected by SIPC up to a maximum of $500,000 total, including $250,000 in cash balances. Coverage limitations apply. To learn more about SIPC coverage, visit the SIPC website at www.sipc.org.

² Average annual returns are based on hypothetical back-tested performance by Save of the Save Moderate Portfolio from 2006 to present. Hypothetical back-tested performance is no guarantee of future performance and actual results will vary. Returns are subject to change daily. Minimum return will always be at least 0%. All return figures shown are for informational purposes only and are not actual customer returns.  Returns are not derived from the Webster Bank savings account.  More information relating to Save's hypothetical back-tested performance can be found here: https://joinsave.com/hb-moderate

SOURCE Save