"M1" refers to M1 Holdings Inc., and its wholly-owned, separate affiliates M1 Finance LLC, M1 Spend LLC, and M1 Digital LLC. M1 is a technology company offering a range of financial products and services. M1 relies on information from various sources believed to be reliable, including clients and third parties, but cannot guarantee the accuracy and completeness of that information. All agreements are available in our Agreement Library. Visit our Help Center to learn more about account types.īy using this website, you accept our Terms of Use and Privacy Policy and acknowledge receipt of all disclosures in our Disclosure Library. Have an existing 401(k) or IRA that needs a new home? It’s easy to transfer these accounts and begin managing them on the M1 platform. You need to pay taxes on funds you withdraw from this account. SEP (Simplified Employee Pension) IRAs are for those who are self-employed, own a business, employ others, or earn freelance income. You won’t pay taxes on funds you withdraw from this account. Open a Traditional IRAįund your IRA with post-tax funds for tax-free growth of your retirement savings. Traditional IRAs can be funded with pre-tax earnings for tax-deferred growth on your retirement savings. Source: Choose the account type that’s right for you The assumed rate of return is not guaranteed as investing involves risk of loss. Calculations assuming the following constraints: (a) an initial investment of $1000, (b) an annual rate of return of 10%, (c) no taxes, fees, inflation, or withdrawals. View source version on businesswire.Hypothetical example for illustrative purpose only. M1 Plus is an annual membership that confers benefits for products and services offered by M1 Finance LLC, M1 Spend LLC and M1 Digital LLC, each a separate, affiliated, and wholly-owned operating subsidiary of M1 Holdings Inc. M1 Savings Accounts are furnished by B2 Bank, NA, Member FDIC. M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc. Stated APY (annual percentage yield) is subject to change prior to product launch due to changing federal funds rate.ĢThis offering, in partnership with B2 Bank National Association, Member FDIC, is available only through the M1 app. Variable APY rate subject to paid M1 Plus subscription. Stated APY is valid from date of account opening. Learn more at 1Obtaining stated APY (annual percentage yield) or opening an account does not require a minimum account balance. This announcement follows the launch of M1 Crypto earlier this year and is part of M1’s strategy of creating automated personal finance infrastructure to help people maximize their money, whether they are investing, borrowing, spending or saving. M1 High-Yield Savings Account is a direct result of the first partnership between M1 and B2 Bank National Association, Member FDIC, the bank formerly known as First National Bank of Buhl that Brian Barnes personally purchased in July 2021. Ensuring that your uninvested cash is growing in a high-yield savings account is a critical part of any long-term financial plan, and we’re proud to put a stake in the ground today and ensure that M1 Plus members will have one of the best rates in the market in 2023." "Our mission is to support long-term investors, savers, and those who consistently practice smart financial habits. The M1 High-Yield Savings Account is the latest addition to our automated, integrated and expanding offering," said Brian Barnes, M1 CEO and Founder. "At M1, we’ve built a suite of products that help people grow their assets, automate their finances, and manage their wealth. There will be no minimum balance requirements or maximum balance caps for the M1 High-Yield Savings Account.Ĭurrent and prospective M1 clients can sign up for more information on the M1 High-Yield Savings Account directly on M1.com starting November 14, 2022. The base rate for the savings account will be 0.50% APY, and M1 clients with an active M1 Plus membership will earn 4.50% APY. M1 High-Yield Savings Account, available in early 2023, will be an FDIC-insured savings account 2. M1 Plus members will earn 4.50% APY on their cash, without limits, coming in early 2023ĬHICAGO, November 14, 2022-( BUSINESS WIRE)-M1, the finance app offering automated investing, borrowing, and banking products, today announced the newest addition to its suite of banking products, the M1 High-Yield Savings Account with 4.50% APY 1.
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