E*TRADE Premium Savings
Morgan Stanley Private Bank, N.A. offers a 3.35% APY with no minimum to open and no monthly fee, held at Morgan Stanley Private Bank, National Association (Member FDIC), which we confirmed is an active FDIC member. The rate comes from NerdWallet, our verified data partner with direct provider relationships.
Is the E*TRADE Premium Savings worth it?
The E*TRADE Premium Savings offers a 3.35% APY with no minimum to open and no monthly fee. We source this rate from NerdWallet, our verified data partner with direct provider relationships — so it carries our ◆ Partner data label rather than a rate we fetched from the provider ourselves.
The account is held at Morgan Stanley Private Bank, National Association. We confirmed with the FDIC that it is an active insured institution — certificate #34221 in Purchase, New York. Deposits are covered up to $250,000 per depositor, per ownership category.
The honest caveat: the APY is partner-supplied and variable, so confirm the current rate on the provider’s own site before opening. This is not financial advice.
How does a high-yield savings account work?
A high-yield savings account holds cash and pays interest, quoted as an annual percentage yield (APY). The bank can change a variable APY at any time, and federal rules may limit certain withdrawals. Interest compounds — usually daily or monthly — and is taxable income in the year you earn it.
How much could you earn with the E*TRADE Premium Savings?
At a 3.35% APY, a $10,000 balance in the E*TRADE Premium Savings earns about $335 in interest over a year, before taxes. Double the balance and you roughly double the interest; your real return depends on how long the rate holds.
Illustrative estimate based on the figures on this page, not an offer. Your results will differ.
What are the pros and cons of the E*TRADE Premium Savings?
The E*TRADE Premium Savings stands out for a 3.35% APY, sourced from our verified data partner, though rate is partner-supplied — not fetched from the provider ourselves.
- a 3.35% APY, sourced from our verified data partner
- No monthly fee and no minimum to open
- Held at Morgan Stanley Private Bank, National Association, an FDIC member we confirmed with the regulator
- Rate is partner-supplied — not fetched from the provider ourselves
- APY is variable and can change without notice
- Online-focused account with limited or no branch access
Who should get the E*TRADE Premium Savings?
The E*TRADE Premium Savings is best for savers chasing a strong APY.
- Savers chasing a strong APY
- People comfortable with an online-first bank
- Anyone who wants FDIC-insured savings
How does the E*TRADE Premium Savings compare?
Among the 29 high-yield savings accounts we track, the E*TRADE Premium Savings ranks #21 with a money8020 score of 82/100.
| Product | Score | Tier | Provider |
|---|---|---|---|
| Marcus by Goldman Sachs Online Savings | 96 | Essential | Marcus by Goldman Sachs |
| Bread Savings High-Yield Savings | 94 | Essential | Bread Savings |
| Pibank Savings | 94 | Essential | Pibank |
| Poppy Bank High Yield Savings | 94 | Essential | Poppy Bank |
| Vio Bank High Yield Online Savings | 94 | Essential | Vio Bank (a division of MidFirst Bank) |
See all high-yield savings accounts, ranked →
Common mistakes to avoid with a high-yield savings account
- Chasing a teaser rate without checking the ongoing APY or any balance tier needed to earn it.
- Leaving an emergency fund in a 0.01% big-bank account instead of a high-yield account.
- Assuming the APY is fixed — it is variable and can drop after you open.
- Overlooking transfer times: moving money to a linked bank can take one to three business days.
Key takeaways
- E*TRADE Premium Savings earns a money8020 score of 82/100, ranking #21 of 29 high-yield savings accounts.
- a 3.35% APY, sourced from our verified data partner
- At a 3.35% APY, a $10,000 balance in the E*TRADE Premium Savings earns about $335 in interest over a year, before taxes.
- Best for savers chasing a strong APY.
- Rate and terms sourced from our verified data partner, NerdWallet.
Frequently asked questions about the E*TRADE Premium Savings
What is the APY on the E*TRADE Premium Savings?
Per NerdWallet, our data partner, it offers a 3.35% APY with no minimum to open and no monthly fee. The APY is variable and can change without notice — confirm the current rate on Morgan Stanley Private Bank, N.A.'s own site. This is not financial advice.
Is the E*TRADE Premium Savings FDIC insured?
Yes. Funds are held at Morgan Stanley Private Bank, National Association, which we confirmed with the FDIC is an active insured institution (certificate #34221, Purchase, New York). Deposits are insured up to $250,000 per depositor, per ownership category.
Can the rate on the E*TRADE Premium Savings change?
Yes. A high-yield savings APY is variable, so the bank can raise or lower it at any time, often following moves in the federal funds rate. Check the rate before you open and review it periodically.
How is interest from the E*TRADE Premium Savings taxed?
Savings interest is taxable as ordinary income in the year you earn it. If you earn more than $10, the bank sends a Form 1099-INT, and you report it on your federal return.
Sources
We sourced these figures from our verified data partner and independently confirmed the provider’s regulator status, last checked May 30, 2026. Primary sources: