Offer value details
PayPal lists PayPal Savings with 3.30% APY as of June 16, 2026, no minimums, and no monthly fees.
Qualification requirements
PayPal says a PayPal Balance account is required to use PayPal Savings. Money can be added from a PayPal balance, linked debit card, or confirmed bank account through the PayPal flow.
Fees and costs
PayPal says PayPal Savings has no minimum balance and no monthly fees. Other PayPal account limitations or transfer issues can still affect access.
Availability
PayPal Savings is a personal deposit account provided by Synchrony Bank, Member FDIC, through PayPal. The account agreement requires an eligible PayPal personal account and PayPal Balance account in good standing, U.S.-person tax status, age 18 or older, an SSN, a valid U.S. phone number, and an eligible physical address.
What to verify
- The APY is variable and can change after account opening.
- PayPal is a financial technology company, not a bank, and PayPal itself is not FDIC-insured.
- FDIC insurance applies through Synchrony Bank, subject to account ownership and coverage limits.
- The account is capped at $250,000 and is limited to one sole-owner account with no additional owners or beneficiaries.
- PayPal account limitations or holds may affect transfers.
Confirm current provider terms
Rates, rewards, fees, qualification rules, eligibility, and deadlines can change. Review the provider terms before applying.