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E*TRADE Premium Savings Review
Our take: A competitive rate with no requirements, no minimums or fees, extra FDIC coverage and instant transfers to an E*TRADE brokerage account. New accounts get a temporary rate boost; plan around the standard rate.
Pros
- 3.75% APY standard rate with no requirements
- Boosted 4.25% APY for six months on new accounts
- No minimum deposit and no monthly fee
- Up to $500,000 in FDIC coverage ($1 million joint) and instant transfers to E*TRADE brokerage
Cons
- The 4.25% boost is temporary and only for new accounts
- No debit card or ATM access
- External transfers capped at $100,000 per transaction
Key facts
- APY
- 3.75%
- Requirements
- None
- Minimum to open
- $0
- Minimum to earn APY
- None
- Monthly fee
- No monthly fee
- ATM access
- None, transfers only
- Current offer
- Up to $800 with promo code SAVE800 ($20,000 or more in new money), plus 4.25% APY for 6 months on new accounts
- Insurance
- FDIC insured through Morgan Stanley Private Bank. Up to $500,000 of FDIC coverage for individual accounts ($1 million joint) through a program of partner banks
- FDIC certificate
- 34221 (Morgan Stanley Private Bank, N.A., Purchase, NY)
- Who can open
- New Premium Savings accounts; non US residents are not eligible
- Mobile app
- E*TRADE app: 4.7 on the App Store, 4.6 on Google Play (Sep 28, 2026)
- Customer service
- 800-387-2331, 24/7
Source: E*TRADE website, checked Oct 27, 2026. Insurance details from the FDIC BankFind database.
E*TRADE Premium Savings pays a standard 3.75% APY, and new accounts opened by January 10, 2027 earn a guaranteed 4.25% APY for their first six months. With promo code SAVE800, $20,000 or more in new money earns a $400 cash bonus and $100,000 or more earns $800. There are no minimums or monthly fees, and deposits are held at Morgan Stanley Private Bank (FDIC certificate 34221). Rates as of Oct 27, 2026, checked on Oct 27, 2026.
Our verdict
E*TRADE Premium Savings, held at Morgan Stanley Private Bank, pays a standard 3.75% APY with no minimums, no fees and no monthly rules. New accounts opened by January 10, 2027 earn a boosted 4.25% APY for their first six months.
Two features set it apart: FDIC coverage of up to $500,000 for individual accounts ($1 million joint) through a partner bank program, and instant transfers to an E*TRADE brokerage account. There is no debit card or ATM access.
How the rate works
| Situation | APY |
|---|---|
| New account, first six months (opened September 22, 2026 to January 10, 2027) | 4.25% |
| Standard rate | 3.75% |
E*TRADE’s rate sheet lists these rates as of Oct 27, 2026. Both are variable. We score the standard rate, because the boost ends after six months.
What $10,000 earns: about $375 in a year at the standard rate, assuming it does not change. The boost adds more during the first six months.
The $800 bonus: how it works
- Open a new Premium Savings Account between September 15, 2026 and January 10, 2027 with promo code SAVE800, and fund it within 30 days.
- Deposit at least $20,000 in new money in the first 30 days. Money moved from other E*TRADE or Morgan Stanley accounts does not count.
- Keep an average daily balance of at least your tier’s minimum for the 45 days that start on day 31.
- E*TRADE pays the bonus within 30 days after that.
| New money in first 30 days | Balance to keep | Bonus |
|---|---|---|
| $20,000 to $99,999 | $20,000 | $400 |
| $100,000 or more | $100,000 | $800 |
Existing Premium Savings Accounts are not eligible. On $100,000, six months at 4.25% earns about $2,103, plus the $800 bonus. The boosted rate alone is about the same as the best standard rates we track, so the cash bonus is what makes this offer stand out. See all savings account bonuses we verified.
Offer terms from E*TRADE’s Premium Savings page, checked October 16, 2026. Offers can change or end early. Bonuses are generally taxable as interest.
Is the 4.25% boost worth it?
The boost lifts new accounts from the standard 3.75% to 4.25% APY for the first 6 months, for accounts opened between Sep 22, 2026 and Jan 10, 2027 (as of Oct 23, 2026). On $10,000, that is about $210 in the first 6 months instead of about $186, roughly $25 extra. Over a full year (6 months boosted, then 6 months at the standard rate if it does not change), $10,000 earns about $400.
For comparison, the top savings account we track with no monthly rules, Pibank Savings, pays 4.40% APY for the whole year with no time limit. Over 12 months, that matters more than a 6 month boost, so the real reasons to pick E*TRADE are the cash bonus on larger deposits and the extra FDIC coverage.
How E*TRADE Premium Savings compares
| Account | APY | Interest on $10,000 in a year |
|---|---|---|
| E*TRADE Premium Savings (standard) | 3.75% | $375 |
| Peak Bank Envision | 4.27% | $427 |
| EverBank Performance Savings | 4.20% | $420 |
| Newtek Bank High Yield Savings | 4.20% | $420 |
| Bread Savings High Yield Savings | 4.05% | $405 |
| American Express High Yield Savings | 3.20% | $320 |
Live rates from our weekly checks at each bank; each review shows the bank’s as of date. E*TRADE’s 4.25% boost is not included in the table because it lasts 6 months.
Fees and minimums
There is no minimum deposit and no monthly fee.
Access to your money
You can move money online or in the app at any time, and transfers to an E*TRADE brokerage account are instant. There is no debit card or ATM access, and external transfers are limited to $100,000 per transaction.
Is E*TRADE Premium Savings safe?
Deposits are held at Morgan Stanley Private Bank, N.A., based in Purchase, New York, which is FDIC insured under certificate 34221. We confirmed it in the FDIC BankFind database. E*TRADE’s program places money at partner banks to offer up to $500,000 in FDIC coverage for individual accounts and up to $1 million for joint accounts, when certain conditions are met.
Who it is best for
- Investors who want cash ready to move into their E*TRADE brokerage account
- Savers with large balances who want more than $250,000 of FDIC coverage in one place
- New customers who can take advantage of the six month boost
Who should look elsewhere
- People who want ATM access; see Happen Bank
- Savers who want the highest rate with no rules long term; Peak Bank pays more today
How we rated it
E*TRADE Premium Savings scores 4.5 out of 5. It earns top marks for fees, requirements, app and support, and safety, scores well on rate, and loses points on access. Read the full methodology.
How E*TRADE compares
| Account | Rating | APY | Min to open | ATM card |
|---|---|---|---|---|
| Elevault High Yield Savings | 4.6 | 4.34% | $0 | No |
| EverBank Performance Savings Account | 4.6 | 4.20% | $0 | No |
| Happen Bank LevelUp Savings | 4.6 | 4.20% | $0 | Yes |
| Bread Savings High Yield Savings Account | 4.6 | 4.05% | $100 | No |
| Peak Bank Envision High Yield Savings | 4.5 | 4.27% | $100 | No |
| Newtek Bank Personal High Yield Savings Account | 4.5 | 4.20% | $100 | No |
| Openbank High Yield Savings Account | 4.5 | 4.00% | $500 | No |
| E*TRADE Premium Savings | 4.5 | 3.75% | $0 | No |
| Axos ONE Savings | 4.4 | 4.21% | $0 | Yes |
| Always.bank High Yield Savings Account | 4.4 | 4.10% | $0 | No |
| Barclays Tiered Savings | 4.4 | 3.50% | $0 | No |
| Capital One 360 Performance Savings | 4.4 | 3.20% | $0 | No |
| Valley Direct High Yield Savings | 4.3 | 3.30% | $1,000 | No |
| Ally Bank Savings Account | 4.3 | 3.20% | $0 | No |
| American Express High Yield Savings Account | 4.3 | 3.20% | $0 | No |
| Pibank Savings | 4.2 | 4.40% | $0 | No |
| Western Alliance Bank High Yield Savings Premier | 4.2 | 3.80% | $500 | No |
| Ivy Bank High Yield Savings Account | 4.1 | 4.00% | $2,500 | No |
| SoFi Checking and Savings | 4.1 | 3.30% | $0 | Yes |
| Alto Online Savings (BMO) | 4.0 | 3.00% | $0 | No |
E*TRADE savings FAQ
What is the E*TRADE Premium Savings rate?
E*TRADE lists a base rate of 3.75% APY and a boosted rate of 4.25% APY for six months on new accounts, as of Oct 27, 2026. Rates are variable.
Who gets the E*TRADE boosted savings rate?
New Premium Savings accounts opened from September 22, 2026 to January 10, 2027. Existing accounts are not eligible. After six months the account reverts to the standard rate.
Is E*TRADE Premium Savings FDIC insured?
Yes. Deposits are held at Morgan Stanley Private Bank, N.A., FDIC certificate 34221, and E*TRADE's program offers up to $500,000 of FDIC coverage for individual accounts and up to $1 million for joint accounts, when certain conditions are met.
Does E*TRADE Premium Savings have a debit card?
No. Savings accounts are not eligible for a debit card. You move money by transfer, including instant transfers to an E*TRADE brokerage account.
Is there a minimum deposit?
No. There is no minimum deposit and no monthly fee.
What is the E*TRADE Premium Savings bonus?
With promo code SAVE800, a new account that adds $20,000 to $99,999 in new money in its first 30 days earns $400, and $100,000 or more earns $800, if you keep that balance for the next 45 days. Open by January 10, 2027.
How long does the 4.25% E*TRADE rate last?
Six months from the date you open a new Premium Savings Account, for accounts opened by January 10, 2027. After that you earn the standard rate.
Is the E*TRADE 4.25% boost worth it?
On $10,000, the boost adds roughly $25 over the first 6 months compared with the standard rate. It helps, but over a full year a savings account that pays a higher rate all year can earn more. The bigger reasons to pick E*TRADE are the cash bonus on larger deposits and the extra FDIC coverage.
Ready to open E*TRADE Premium Savings?
Rates as of Oct 27, 2026. Confirm the current rate and terms on the provider’s site before you apply.