Klarna is launching high-yield savings accounts in the United States with an annual percentage yield starting at 3.28%. The accounts are FDIC-insured through a partnership with WebBank and are designed to let existing Klarna spending customers hold savings within the same platform.
“The average American earns less than 0.5% on their savings, not because better options don’t exist, but because their bank hasn’t had to compete,” CEO Sebastian Siemiatkowski said in a statement.
The competitive landscape
The 3.28% rate is competitive but not market-leading. Marcus by Goldman Sachs currently pays 3.4%, and SoFi Technologies offers up to 3.8% for six months.
Klarna’s pitch is not the rate itself but the integration. The company wants users who already make purchases through its buy-now-pay-later service to consolidate their spending and saving in one app, the same flywheel strategy that Revolut and other neobanks have pursued in Europe.
