Klarna has launched an FDIC-insured savings account in the US, offering interest rates above 3% APY with no minimum deposit or monthly fees.
Available directly within the Klarna app, the accounts are provided and held by WebBank, a member of the Federal Deposit Insurance Corporation (FDIC). Klarna itself is not an FDIC-insured bank. In addition, deposit insurance applies specifically to WebBank in the event of that institution's failure, subject to certain conditions.
The accounts carry no minimum deposit requirement and no monthly fees, with an annual percentage yield (APY) starting at 3.28% as of 9 June 2026, subject to change. A membership is required to receive and maintain the APY boost, which applies to balances up to USD 50.000, and the balances above that threshold earn the base interest rate.
From payments to deposits
The launch marks a notable broadening of Klarna's product scope in the US, where the company already operates as a BNPL and payments platform used by several consumers. The savings account sits within a financial hub inside the Klarna app, alongside the Klarna balance and the Klarna Card, positioning the company as a broader everyday financial management tool rather than a standalone payments service.
According to the official press release, accounts can be opened within minutes and include features such as round-ups, scheduled transfers, and savings goal-setting, all designed to automate the process of building savings without requiring users to switch between platforms.
Klarna has cited its existing experience in deposit-taking as a basis for the US expansion. Across 11 European markets, consumers hold over USD 12.3 billion in deposits with the company. The US launch brings that model to a market where, according to Klarna, the average consumer earns less than 0.5% interest on savings, a figure that reflects the limited competitive pressure facing traditional retail banks in the deposit segment.
The structure of the product follows a model increasingly common among non-bank fintech firms seeking to offer deposit products without holding a full banking licence. For Klarna, which filed for an initial public offering in the US in 2025, the move signals a strategic intent to deepen its relationship with existing users and increase engagement beyond the point of purchase.
The savings account is available to US users directly through the Klarna app.
