Raisin Bank Review: Up to $1,000 Bonus and 4.17% APY

Raisin bonus amounts

The bonus scales with what you deposit, not with how many accounts you open. Every tier below needs the money funded within the promotion window, and the higher figure in each row requires splitting the balance between a savings account and a CD.

Deposits under $10,000 still earn the APY but do not qualify for a bonus tier. The bonus and the interest are both taxable and reported on a 1099-INT.

Raisin promo code: what STACK does

STACK is the code that attaches the bonus tier to your account. Without it you still get the APY, but no cash bonus. Enter it when you open the account, not afterwards, because Raisin cannot apply a code retroactively once the account exists.

How to get the Raisin bonus

1. Open an account through the offer page and enter promo code STACK during signup.
2. Pick a savings product from the partner list. The bonus is tied to your total deposit, so you do not need the highest-rate account to qualify.
3. Fund by ACH within 14 days of opening. Transfers that land after the window do not count toward a tier.
4. Hold the balance through the qualifying period. Pulling money out early can drop you into a lower tier or void the bonus.
5. Split the balance between a savings account and a CD if you want the higher figure in your tier row.

Is Raisin safe?

Raisin itself does not hold your money. It is a marketplace, so your deposit sits at the partner bank or credit union you choose, and that institution carries the insurance. That distinction matters: you are insured by the bank, not by Raisin.

Because your balance can be spread across multiple partner institutions from one login, total coverage can reach far past the $250,000 per-depositor, per-bank FDIC limit. Up to $10,000,000 in aggregate deposit insurance is available when funds are spread across 40+ partners. For anyone sitting on more than $250,000 at a single bank, that is the strongest reason to use Raisin at all.

Raisin savings account rates

Raisin lists rates from partner institutions rather than setting one house rate, so the top APY on the platform moves as partners compete. At the time of writing the leading savings rate is 4.17% APY, against a national average of roughly 0.38% for savings accounts. On $50,000 that gap is about $1,875 a year in interest you are not otherwise earning.

There are no account fees, no minimum balance requirements after opening, and no withdrawal penalties on the savings products. You keep one Raisin login and can move between partner banks without repeating the application each time.

Raisin CD rates

Alongside savings, Raisin lists certificates of deposit and no-penalty CDs from the same partner network. CD rates move independently of the savings rate and change often, so check the live rate table before committing, and note that a standard CD locks your money for the full term. The signup bonus is tied to your deposit amount, so a CD deposit can count toward a tier the same way a savings deposit does.

Raisin pros and cons

Who Raisin is actually for

Raisin makes sense if you have a meaningful cash balance sitting in a low-rate account, particularly above the $10,000 mark where the bonus tiers begin, and especially above $250,000 where single-bank insurance runs out. It is a poor fit if you want branch access, a debit card, or a checking account, or if you are chasing small bonuses with a few hundred dollars.

Raisin FAQ

Bottom line

If you have $10,000 or more sitting at a big-bank rate, Raisin is one of the few places where a cash bonus and a competitive APY come in the same product, without a fee to offset either. The bonus is the reason to move now, and the insurance headroom is the reason to stay. If your balance is under $10,000, open it for the rate and skip the tier math.

Rates and bonus terms come from Raisin and its partner institutions and can change. Deposits are held at FDIC-insured banks and NCUA-insured credit unions. This page contains affiliate links, which do not affect the rate or bonus you receive.