Your APY for this account is determined by your element tier and ranges from 2.10% to 2.40%.įor context, this is higher than the national average savings rate but lower than what you’d earn with some of the best high-yield savings accounts. However, if you do not have a positive balance for nine months in a row, your account may be closed.
The account has no monthly maintenance fee, minimum deposit requirement or minimum balance requirement. You must have an Oxygen personal checking account to open the savings account. The Oxygen Savings Account is available to U.S. Read More: Best Checking Accounts Of 2024 Oxygen Savings Account
If you set up direct deposits with an Oxygen account, you may be eligible to receive your paycheck up to two days early. Oxygen Elements Visa cards also come with retail and travel perks such as lost luggage insurance and extended warranty protection. Element tiers differ in the number of free virtual cards included, discounts offered for Ambassador Reward upgrades and eligibility for certain travel benefits. You get to choose your element tier when applying and can upgrade after opening.
