Partner banks on the Raisin platform may offer a temporary promotional APY, also called a Rate Lock, to help new customers earn more interest on a high-yield savings account for a limited time.
Once your account is opened and funded, your promotional APY is locked for 60 days, starting when your deposit reaches the partner bank. Since this is a savings account, not a CD, you can deposit or withdraw funds at any time during the 60-day Rate Lock period.
After the Rate Lock period ends, your account stays open and automatically earns the standard variable APY in effect at that time. Full details, including the current standard APY, are available in the product terms.