Every Mercury Personal account includes access to high-yield savings earning a competitive 3.25% Annual Percentage Yield (APY*) with no minimum balance required.
Once your application is approved, you can open a savings account and begin earning interest.
Below are the basics of how high-yield savings works at Mercury.
What is a high-yield savings account?
A high-yield savings account (HYSA) works like a regular savings account, with one difference: it pays a higher interest rate.
Your money stays flexible. You can deposit and withdraw whenever you need to, while it earns more than it would in a traditional savings account.
At Mercury, a personal high-yield savings account includes:
- A 3.25% APY, with no minimum balance to open or to earn
- FDIC insurance up to $5M per depositor**, per insured bank
How you earn interest
Interest is calculated on your daily balance and paid to your account at the start of each month.
There is no minimum balance requirement and no deposit limit, so any funds in your savings account earn interest automatically.
The rate is variable, so the APY may change over time as market rates move.
Interest rate vs. APY
A savings account often lists two rates: the interest rate and the APY.
- Interest rate is the base percentage your balance earns.
- APY (annual percentage yield) is the total you earn in a year once compounding is included. Compounding means the interest you earn is added to your balance and then earns interest of its own.
APY is always slightly higher than the interest rate, and it is the more accurate measure of what your savings will earn.
For example, a $10,000 balance at 3.25% APY earns about $325 over a year.
Opening a savings account
Every Mercury Personal customer can earn high-yield savings once their application is approved.
You can even open more than one savings account to organize your money by goal, such as an emergency fund or an upcoming trip.
To learn more, see Managing checking and savings accounts.
*Annual Percentage Yield (APY) is accurate as of 06/15/2026. This is a variable rate account. The interest rate and annual percentage yield may change at any time and without prior notice. Fees may reduce earnings.
**Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC. FDIC deposit insurance covers the failure of an insured bank. Deposits in checking and savings accounts are FDIC-insured through Choice Financial Group and Column N.A. and their Sweep Program Network Banks. Certain conditions must be satisfied for pass-through FDIC insurance to apply. Learn more here.