High-Yield Savings for Nonprofits
Earn 2.00% APY on your reserves, with up to $50 million in FDIC insurance per tax ID. No fees. Next-business-day withdrawals.
US nonprofits are losing billions each year
in interest by storing their money with big banks
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2.00%
APY
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0.01%
Standard rate
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0.01%
Standard rate
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0.01%
Standard rate
Standard business savings APYs as of October 2026. Rates vary by location and relationship tier.
*National average: FDIC national savings rate, October 19, 2026. Devote APY may change at any time. Estimate assumes the APY stays the same for 365 days.
How it compares
2%Devote
0.38%National Average
$50MDevote
$250KStandard FDIC Limit
National average: FDIC national savings rate, October 19, 2026. Standard FDIC limit: $250,000 per depositor, per bank, per ownership category.
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Up to $50M federally insured
We spread your deposits across a network of FDIC-insured banks and NCUA-insured credit unions, so up to $50 million per tax ID is federally insured, instead of $250,000 at a single bank.
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2.00% APY
Your reserves earn about 5x the national average savings rate.
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Withdraw anytime
No minimum term and no withdrawal fees or penalties. Money typically reaches your bank two business days after you withdraw.
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No fees
Nothing to open, maintain, deposit or withdraw.
Built for the way your organization holds money
Churches and congregations
Restricted and designated money
Schools, clubs and associations
FAQs
Is there a minimum deposit?
Your first deposit needs to be at least $1,000. After that, you can deposit any amount.
Are there any fees?
No. There are no fees to open or maintain your account, and none to deposit or withdraw.
Why should our nonprofit keep reserves in Devote Savings?
Most nonprofits keep reserves and restricted funds in standard business savings accounts that pay about 0.01% APY. Devote Savings pays 2.00% APY, and it spreads your deposits across a network of federally insured banks and credit unions so up to $50 million per tax ID is insured, instead of $250,000 at a single bank.
Is our money safe?
Your deposits are held at FDIC-insured banks and NCUA-insured credit unions, not invested in the market. Devote is not a bank. Federal deposit insurance protects deposits if an insured institution fails, up to $250,000 per depositor, per institution, per ownership category. Placing your deposits across many institutions is how coverage reaches $50 million.
How quickly can we withdraw?
Anytime, with no minimum term and no withdrawal fees or penalties. A withdrawal requested before 3 p.m. Eastern on a business day is processed that day, and the money typically reaches your bank two business days later.
What is the best high-yield savings account for nonprofits?
Compare four things: the APY, how much of your balance is federally insured, fees, and how quickly you can withdraw. Devote Savings pays 2.00% APY, insures up to $50 million per tax ID, charges no fees, and has no minimum term. Rates change, so check current APYs before you decide.
Save smarter, starting now.
Apply for an account in minutes.
Tell us about your organization.
We’ll need some organization info, like your address and EIN number.
Add money to your account.
The faster you fund, the sooner you’ll earn interest. No fees of any kind. Ever.
Enjoy the ease of using Devote.
Start exploring (and enjoying) everything we have to offer.