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High Yield Savings Account

  • No fees from Raisin. $1 minimum deposit.
  • 24/7 online access to funds.
  • Owned entirely by local shareholders.

High Yield Savings Account from Select Bank

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About Select Bank

Select Bank is owned entirely by local shareholders which means that they put a high value on the communities that they serve. They believe that “together is better,” which is why they offer financial donations and encourage employee volunteerism to help support local organizations, agencies, and events.

As a bank, they take a personalized approach to each customer, approaching them as a unique individual and taking into account all of their interests and circumstances. Because of this, they’re proud to serve a wide range of resourceful and creative people. When you choose Select Bank, you’re joining the loyal customers and clients that have helped make Select Bank the local resource that it is today.

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Community-Focused Bank

Select Bank is owned by local shareholders and strives to support and strengthen the local communities they serve.

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Together Is Better

Select Bank gives back to local organizations, agencies, and events.

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Exceptional Savings Opportunities

The savings products offered by Select Bank exclusively through Raisin feature market-leading rates.

Security Is Our Top Priority

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Raisin is focused on cybersecurity

At Raisin, we invest in a variety of technologies to protect our customer’s data, privacy and transactions. These include multi-factor authentication, encryption, and web application firewall advanced internet protection technologies. Raisin is a SOC 2 certified organization, which means we have met the requirements outlined by the American Institute of Certified Public Accountants (AICPA) to ensure that we have the controls in place to keep customers data secure and private.

Select Bank, Powered by Raisin

Select Bank uses the secure Raisin platform to offer savings products to savers nationwide. Customers open accounts at Raisin.com and can manage all aspects of their deposits held at Select Bank through the platform, including making deposits and withdrawals, reviewing statements and any customer service needs. In simple terms, Raisin provides you exclusive access to a special selection of Select Bank products. Best of all, Raisin is completely free!

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    Security: Raisin partners exclusively with federally regulated institutions which are required to implement comprehensive cybersecurity programs including risk assessments, security controls and incident response plans. Raisin itself invests in a suite of state-of-the-art cybersecurity measures including certifications and assessments, data monitoring and data encryption.

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    Choice: Choose from a diverse selection of savings products offering flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.

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    Convenience: One login to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.

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    Service: A supportive, accessible, knowledgeable and responsive customer service team sets Raisin apart.

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    Access: Enjoy 24/7 online access to your account and funds.

Open an Account in Minutes

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Select

the right product for your savings goals.

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Register

with an email address and password, then verify your identity and bank information.

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Fund

the savings products you add to your new Raisin login.

FAQs

Raisin is a free digital platform that gives savers unparalleled access to a variety of deposit products through the convenience of a single login, helping you unlock the growth potential of your cash savings.

With the Raisin platform, you can fund deposit products offered by federally regulated banks and credit unions with a wide range of maturities and APYs (annual percentage yield), allowing you to build a savings strategy to suit your earning and liquidity needs.

Raisin is not a bank or credit union. It provides the digital “storefront” where banks and credit unions can promote their deposit products.

Raisin is operated by Raisin Solutions US LLC, a 100% subsidiary of Raisin SE, a trailblazer for open banking in the deposits and investments space. In the U.S., Raisin helps banks and credit unions improve their deposit funding by offering national reach for their retail deposit products, and provides savers with better access, more choice and higher convenience when evaluating savings products from federally regulated banks and credit unions.

Your Raisin login gives you access to savings accounts and certificates of deposit offered by a variety of banks and credit unions. These products include:
  • High-yield Savings Account (HYSA). As its name indicates, this account type functions like a traditional savings account—with typically no restrictions on depositing and withdrawing funds—but earns interest at rates that are higher than the national average for standard savings accounts.
  • Money Market Deposit Account (MMDA). Also known as a money market account or MMA, this type of savings account offers a varying rate that allows you to earn interest on your funds with maximum flexibility for withdrawals. Like a HYSA, an MMDA offers features of a traditional savings account with typically higher returns.
  • No Penalty CD. Through the flexibility of a No Penalty CD, you can lock in a competitive rate for a fixed term with the option to make a full withdrawal without having to pay a penalty for the early termination. Terms and conditions may vary by product. Please see specific product terms for more details.
  • Fixed Term CD. With this longstanding savings vehicle, funds are held for a fixed term, and a competitive interest rate provides safe, predictable earnings. In contrast to No Penalty CDs, typically you are charged a fee if you do not complete the full term of the Fixed Term CD.

Interest (or dividend in the case of credit union savings products) is compounded daily and posted to your account monthly.

At Raisin, cybersecurity is our priority. Raisin is a SOC 2 certified platform, meaning it has been validated by outside auditors across five (5) key information security principles. We also use a variety of measures to protect our customers' data, privacy and transactions, including:

  • User authentication. The Raisin platform uses multi-factor authentication combined with leading authentication technology to validate our customers’ identities.
  • Data encryption. Your personal information is encrypted in-transit and at rest using advanced cryptographic security algorithms.
  • Site protection. Web application firewall advanced internet protection technologies are implemented to protect Raisin.com from malicious actors, botnets and denial of service attacks (DDOS).
  • Monitoring. An always-on information security monitoring platform detects and alerts us to information security events.
  • Assessments. Our platform undergoes vigorous security assessments and testing throughout the lifecycle of application development, from architecture planning to production phases.

Creating a Raisin login is easy, requires no credit check, and typically takes less than five minutes. Here’s how:

  1. View the offers on our savings marketplace and select a savings product offered by one of our partner banks and credit unions.
  2. Follow prompts to enter your email and create a password.
  3. Complete a simple online application and, after successful identity verification, link a bank account from which to fund your first deposit.
  4. Start earning interest as soon as your money is received by the bank or credit union offering the savings product you selected.

Any questions or concerns? Email us at support.us@raisin.com.

All deposits and withdrawals are completed within one to three (1-3) business days. After the initial deposit a withdrawals limitation for the first few business days may exist.

Business days are Monday through Friday excluding U.S. bank holidays.

For products offered by banks, all necessary registration is handled when you become a Raisin customer. One of the many benefits of our platform is that you can open a single account and earn competitive interest rates from banks in the Raisin network. When you select and fund a savings product offered by a credit union, there is an additional step of becoming a member. Raisin makes that process quick, easy and free. You still have one Raisin login and can view all your savings products in one convenient dashboard.

The current APY for your savings products can always be viewed on the Account Overview page when you are logged in to Raisin. This information also appears on monthly statements.

You cannot currently link your Raisin login to a third-party app, but we may offer this feature in the future. For now, you will not be able to link your selected savings product to a third-party app even if the bank or credit union offering that product does so outside of the Raisin platform.