We did it again. Now earn 4% APY with Robinhood Gold

Robinhood is raising interest rates once again for Gold members. Earn 4% beginning Friday, December 16. Your first 30 days are free, then it’s just $5 a month.

The Fed just announced interest rates are going up again, but many banks are likely going to keep that extra cash for themselves. Unlike some of our competitors, we’re doing what’s best for customers by passing those savings along, which is why we’re once again raising our Robinhood Gold rate–this time to 4%. It’s our highest rate yet and is 21x more in interest when compared to the national average savings rate,* making it one of the best rates available. 

The new interest rate goes into effect on Friday, December 16, at which time new and existing Gold customers enrolled in cash sweep can earn even more income on their uninvested cash, with no cap. Whether it’s that end of year bonus or cash gift, or putting extra money to work, customers can now take advantage of even higher interest rates while they plan their next move. 

The interest compounds daily (derived from the 4% APY) and is then paid out monthly, with customers able to track how much they’ve earned directly within the app. Customers can also instantly transfer funds from their brokerage account into their spending account to make purchases using their Robinhood Cash Card.

All eligible customers who opt in to brokerage cash sweep have their uninvested brokerage account cash automatically “swept,” or moved, into deposit accounts at a network of six program banks. The cash deposited to these banks is covered by FDIC insurance up to a total maximum of $1.5 million (up to $250,000 per program bank, inclusive of deposits customers may already hold at the bank in the same ownership capacity). These banks will pay interest on the swept cash.** 

This week’s new rate is on top of Robinhood Gold’s other benefits including: 

  • Bigger Instant Deposits. With Gold, customers can get $5,000 - $50,000 of their deposits instantly so they can invest right away.*** 

  • Margin investing at 7%. Customers can borrow money to increase their buying power, if eligible.**** 

  • Real-time market data. Customers can see people’s bids and asks on securities with Level II market data from Nasdaq.

  • Professional research. Customers can plan their next move with stock research by financial analysts at Morningstar.

Customers can try Robinhood Gold for just $5 a month and new Gold subscribers will receive a free 30-day trial. Those not enrolled in Robinhood Gold can still earn 1.5% interest for all uninvested brokerage cash once enrolled in cash sweep. 

Gold Cash Sweep balances are up by over $3 billion since we first increased rates in September. 

 

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*As of December 7, 2022 based on data from Bankrate the average interest rate for savings accounts was 0.19% and is subject to change. Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. Savings account interest rates vary from bank to bank and may be lower or higher than the stated average.

**The current APY enrolled customers will receive from these banks is 1.5% for non-Gold members and will be 4% for Robinhood Gold members as of December 16, 2022. Please note, for margin enabled customers, in order to earn interest, a cash balance is needed. If you have a margin balance, there is no cash balance to earn interest. Interest rates for cash sweep and margin investing can change at any time

***Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.

****Margin interest rates are as of December 15, 2022. These are floating rates and are subject to change. 

 Disclosures: All investments involve risk and loss of principal is possible.
Banks listed for comparison were selected based on the top 3 in total assets in their respective categories (online and traditional banks) from FDIC.gov. Rates shown are the average APY across all balance tiers offered in savings accounts as of 12/14/2022: Marcus: 3% (Promo not included in comparison chart: 1% bonus for 3 months for each referral, up to 5 referrals per calendar year); Ally: 3%; Discover: 3%; Chase: 0.02%; Bank of America 0.025%; Citibank 0.32%. Rates subject to change at any time.

The brokerage cash sweep program is an added feature to your Robinhood Financial LLC brokerage account. Robinhood Gold is offered through Robinhood Financial LLC.

Interest is earned on uninvested cash swept from your brokerage account to program banks. Program banks pay interest on your swept cash, minus any fees paid to Robinhood. As of December 14, 2022, the Annual Percentage Yield (APY) that you will receive is 1.5%, or 4% for Gold customers as of December 16. The APY might change at any time at the program banks' discretion. Additionally, any fees Robinhood receives may vary and is subject to change. Neither Robinhood Financial LLC nor any of its affiliates are banks.

With the brokerage cash sweep program, the uninvested cash in your brokerage account (cash intended for investing but that you have not yet invested or spent) is swept to program banks, where it becomes eligible for FDIC insurance up to $1.5 million or $250,000 per program bank, inclusive of any other deposits you may already hold at the bank in the same ownership capacity which may impact how much is covered. Please note that until funds are swept to a program bank, they are held in your brokerage account which is protected by SIPC. Once funds are swept to a program bank, they are no longer held in your brokerage account and are not protected by SIPC. However, these funds are eligible for FDIC insurance through the Program Banks subject to FDIC insurance coverage limits. Please see the IND Disclosures for more information.

Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.

Not all investors will be eligible to trade on margin. Margin involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Before using margin, customers must determine whether this type of strategy is right for them given their investment objectives and risk tolerance.

Robinhood Financial charges a standard margin interest rate of 11% and a margin interest rate of 7% for customers who subscribe to Gold. The margin interest rate is calculated by adding 7% (for non-Gold customers) or 4% (for Gold customers) to the upper bound of the Target Federal Funds Rate, which is set by the Federal Reserve and is subject to change without notice. The formulas used to calculate the margin interest rate are subject to change at Robinhood Financial’s discretion. The margin rates shown will go into effect on December 16, 2022 and might change at any time without notice and at Robinhood Financial’s discretion. The standard margin interest rate will be rolled out to customers who do not subscribe to Gold in phases over a period of time, subject to eligibility criteria, and so may not be available immediately to all customers.

Morningstar is not affiliated with Robinhood Markets, Inc. or its subsidiaries.

Spending account is offered through Robinhood Money, LLC ("RHY") (NMLS ID: 1990968), a licensed money transmitter.  Please see a list of our licenses for more information. The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard®. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. RHF, RHY, and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, and RHS are not banks.

Robinhood Financial LLC (member SIPC) is a registered broker dealer.  Robinhood Securities, LLC (member SIPC) is a registered broker dealer and provides brokerage clearing services. All are subsidiaries of Robinhood Markets, Inc. (Robinhood).

© 2022 Robinhood Markets, Inc. Robinhood®

Introducing Robinhood Retirement

The first and only IRA with a Robinhood 1% match for every dollar contributed, access to stocks and ETFs, all in one place, and zero commissions or account minimums.

Starting December 6, everyone will be able to sign up for Robinhood Retirement waitlist to invest for their future the Robinhood way - no employer necessary. All while earning a 1% match from Robinhood on every eligible contribution dollar, other fees may apply.*  With Robinhood Retirement, customers are now able to open multiple Robinhood accounts for the first time.

People are relying on themselves. They’re taking on gig work, side hustles and building their own companies.  Tools that can make it easier to save for retirement - such as automatic transfers from a paycheck or contribution matching - are often not available to the gig economy - which makes up as much as 40% of America’s total workforce. 

Pew Charitable Trust recently found lack of access to a workplace plan is the most significant retirement savings challenge facing non-traditional workers, with 77% saying they would participate in a defined contribution savings plan if they were eligible for it. We believe that saving for retirement should be easy and accessible to all, and not dependent on where or how you work.  

Here’s how it works*:

  • Select your IRA. Customers can choose to invest in stocks and ETFs through either a traditional IRA or Roth IRA. 

  • Invest on your own terms. Our retirement account lets customers build a custom portfolio through our tailored in-app recommendations, by choosing their own investments, or a mix of both. The sign-up process and onboarding flow takes a few minutes and helps customers get started right away.  

For illustration purposes only. Not a recommendation for any specific customer.

  • IRA Instant Deposit - Once a customer contributes, they will have access instantly to their funds to start investing, up to $1,000. 

With Robinhood Retirement, earnings can grow either tax-free or tax-deferred, which means customers will save on taxes while saving for their future – an added tax benefit even if they already have a 401k elsewhere. 

Starting December 6, people can sign up to apply for early access via a waitlist and will receive access on a rolling basis over the following weeks, with full availability in January. For customers who want early access sooner, we’ve developed a referral program. Customers have the ability to refer a friend to the Retirement waitlist and once their friend joins, they will receive early access to a retirement account.

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Disclosures 

*Other fees may apply. Match limitations apply. 

*Contributions must come from an external source and the match is capped at the annual IRS limits for contributions. The customer must keep the funds that earned the match in the account for at least five years to avoid the possibility of a fee when withdrawn. For more information, see the IRA Match FAQs. 

Robinhood does not provide tax advice. 

All investments involve risk and loss of principal is possible. 

Robinhood Financial LLC (member SIPC), is a registered broker dealer. Robinhood Securities, LLC (member SIPC), is a registered broker dealer and provides brokerage clearing services. All are subsidiaries of Robinhood Markets, Inc. (‘Robinhood’). 

© 2022 Robinhood Markets, Inc.

Earn 3.75% Interest with Robinhood Gold

3.75% interest on uninvested cash is the latest benefit for Robinhood Gold customers and is one of the best interest rates in the industry

Today we’re introducing a new Robinhood Gold benefit that enables members to earn 3.75% interest on their brokerage cash–up from 1.5% for non-Gold members. With the new interest rate, Gold customers can now earn even more income on their uninvested cash while they plan their next move and collect 23x more in interest when compared to the national average savings rate*. The added benefit comes on the heels of the Fed rate hike earlier this week.  

Since launching the revamped brokerage cash sweep program in May we’ve seen strong adoption from our Gold users. Effective immediately, all of these cash sweep balances are now earning 3.75% interest with the interest compounding daily. Interest is then paid out monthly by the program banks, and customers can keep track of how much they’ve earned directly within the app.

Customers who wish to enroll in cash sweep can search for ‘Cash Sweep’ directly within the app, can find it via the ‘Discover more’ carousel, or they can tap the ‘Account’ icon in the bottom right corner, navigate to the ‘Investing’ tab in the top left menu, and select ‘Enable cash sweep.’  

Today’s interest rate increase is a new offering for Gold customers, who already receive access to a suite of benefits including: 

  • Larger Instant Deposits. With Gold, customers can get even larger Instant Deposits**—up to $50,000 depending on their brokerage account balance and status. 

  • Professional research from Morningstar. Gold members get unlimited access to Morningstar’s premium, in-depth stock research reports. These reports are available for approximately 1,700 stocks and are updated frequently to reflect important company events.

  • Level II market data from Nasdaq. Level II market data shows multiple bid and ask prices from Nasdaq for any given security so investors can better determine the availability or desire for a security at a certain price. 

  • Access to margin investing at 6.5% interest. Eligible customers can borrow money from Robinhood and leverage their holdings to purchase securities. For Gold customers, the first $1,000 of margin is included, and then Gold customers pay 6.5% yearly interest beyond that. Non-Gold customers who are eligible have access to a margin interest rate of 10.5%.*** 

All eligible customers who opt in to brokerage cash sweep have their uninvested brokerage account cash automatically “swept,” or moved, into deposit accounts at a network of six program banks. Cash deposited to these banks will be covered by FDIC insurance up to a total maximum of $1.5 million (up to $250,000 per program bank, inclusive of deposits customers may already hold at the bank in the same ownership capacity). These banks will pay interest on the swept cash.****

 Customers can upgrade to Robinhood Gold for just $5 a month and new customers will receive a free 30-day trial. Those not enrolled in Robinhood Gold can still earn 1.5% interest for all uninvested brokerage cash once enrolled in cash sweep. 

 

 

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*As of October 19, 2022 based on data from Bankrate. Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. Savings account interest rates vary from bank to bank and may be lower or higher than the stated average.

**Larger Instant Deposits are only available if your Instant Deposits status is in good standing.

***Margin interest rates are as of November 3, 2022. These are floating rates and are subject to change. 

****The current APY enrolled customers will receive from these banks is 1.5% for non-Gold members and 3.75% for Robinhood Gold members as of November 4, 2022. Please note, for margin enabled customers, in order to earn interest, a cash balance is needed. If you have a margin balance, there is no cash balance to earn interest. Interest rates for cash sweep and margin investing can change at any time

 Disclosures: All investments involve risk and loss of principal is possible.
The brokerage cash sweep program is an added feature to your Robinhood Financial LLC brokerage account. Robinhood Gold is offered through Robinhood Financial LLC.
Interest is earned on uninvested cash swept from your brokerage account to program banks. Program banks pay interest on your swept cash, minus any fees paid to Robinhood. As of Nov 4 2022, the Annual Percentage Yield (APY) that you will receive is 1.5%, or 3.75% for Gold customers. The APY might change at any time at the program banks' discretion. Additionally, any fees Robinhood receives may vary and is subject to change. Neither Robinhood Financial LLC nor any of its affiliates are banks.

With the brokerage cash sweep program, the uninvested cash in your brokerage account (cash intended for investing but that you have not yet invested or spent) is swept to 6 program banks, where it becomes eligible for FDIC insurance up to $1.5 million or $250,000 per program bank, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. Please note that until funds are swept to a program bank, they are held in your brokerage account which is protected by SIPC. Once funds are swept to a program bank, they are no longer held in your brokerage account and are not protected by SIPC. However, these funds are eligible for FDIC insurance through the Program Banks subject to FDIC insurance coverage limits. Please see the IND Sweep Agreement for more information.


Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
Not all investors will be eligible to trade on margin. Margin involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Before using margin, customers must determine whether this type of strategy is right for them given their investment objectives and risk tolerance.

For more information, please see FINRA’s Investor Alert and Robinhood Financial’s Customer Relationship Summary, Margin Disclosure Statement, and Margin Agreement. These disclosures contain important information on Robinhood Financial’s products and services, conflicts of interests, lending policies, interest charges, and the risks associated with margin investing enabled accounts.

Robinhood Financial charges a standard margin interest rate of 10.5% and a margin interest rate of 6.5% for customers who subscribe to Gold. The margin interest rate is calculated by adding 6.5% (for non-Gold customers) or 2.5% (for Gold customers) to the upper bound of the Target Federal Funds Rate, which is set by the Federal Reserve and is subject to change without notice. The formulas used to calculate the margin interest rate are subject to change at Robinhood Financial’s discretion. The margin rates shown are as of November 3, 2022 and might change at any time without notice and at Robinhood Financial’s discretion. The standard margin interest rate will be rolled out to customers who do not subscribe to Gold in phases over a period of time, subject to eligibility criteria, and so may not be available immediately to all customers.

Morningstar is not affiliated with Robinhood Markets, Inc. or its subsidiaries.

Robinhood Financial LLC (member SIPC) is a registered broker dealer.  Robinhood Securities, LLC (member SIPC) is a registered broker dealer and provides brokerage clearing services. All are subsidiaries of Robinhood Markets, Inc. (Robinhood).
© 2022 Robinhood Markets, Inc. Robinhood®

Robinhood, Duke Launch Financial Education Program

University of Memphis and Kansas State University are also signing on to be part of Robinhood Markets, Inc.’s Money Drills Initiative that brings financial literacy to schools across the nation.

Robinhood Markets, Inc., is partnering with Duke University’s Department of Economics to launch a financial education program for students beginning with the 2023 academic year. This 4-year partnership is part of Robinhood’s Money Drills initiative that makes financial education coursework available for college students across the nation. Through the Money Drills program, Robinhood will provide funding to support additional course sections of the Duke Department of Economics’ personal finance class and offer guest lecturers to discuss financial education. Graduating students who have a fundamental understanding of personal finance is also a priority for Duke.  

University of Memphis and Kansas State University are also signing on to be part of Robinhood’s Money Drills Initiative. 

Duke’s Economics Department will join Robinhood’s External Affairs team at an event on Saturday, Oct. 15, 2022, to make the announcement ahead of the Duke-UNC college football game.

“Financial education is crucial for empowering people to responsibly manage their financial futures,” said Mary Elizabeth Taylor, Vice President of External Affairs at Robinhood Markets, Inc. “As a Safety First company, Robinhood believes that pairing financial tools with education is critical, and we are thrilled to be partnering with Duke University to expand access to the school’s personal finance coursework to their student body.”

“In this class, students will engage in practical learning activities to internalize the essentials of personal financial management,” said Professor Emma Rasiel, Teaching Director of the Duke Financial Economics Center.  “In today’s uncertain financial climate, it has never been more important for our students to learn these skills. I’m thrilled to be able to bring these essential tools and concepts to Duke students in a course that is accessible to students who are remaining on campus during the summer months.”

“Financial literacy is a cornerstone skill, and I have long supported financial literacy efforts as they help Americans strive to achieve the American dream,” said Senator Thom Tillis, N.C. “I would like to thank Robinhood and Duke University for their commitment to improving the lives of North Carolina’s scholars.”

The course will operate every summer and be available to students who stay on campus at Duke. This, like the partnership with West Virginia University we announced in April 2022, is a for-credit course entirely dedicated to financial education for students. 

While many companies offer financial education programming via pamphlets or one-time workshops, we’re excited to bring the spirit of democratizing finance for all by providing funding for this course that will be entirely dedicated to financial education for students. Financial education is at the heart of our mission to democratize finance for all. We’re committed to providing educational content to help people make informed investment decisions for both customers and non-customers alike. 

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Introducing 24/7 Chat Support

A convenient way to get support for all your needs - day or night

We know having to connect with someone on the phone to get support you need is not always the most convenient option. That’s why we’re introducing 24/7 in-app chat support. 

Chat with a Robinhood associate on your own schedule, and easily share screenshots, documents, and links to get your questions answered quickly. Our 24/7 in-app chat support gets you connected anytime you need it and for any question you have. 

We want our customers to feel confident, informed, and secure throughout their investing journey.  With our support options, you can always get connected with someone in-app on phone or chat.

Convenient support at your fingertips

Engage on your own schedule and step away when you need to.

You can connect with chat support, 24/7 in the app for any issue. Here’s how it works:

  • Available to every customer: Available to all logged in customers, no account minimums required.

  • Get help on your own schedule: Just open the app or log into the website and start a chat with a Robinhood associate whenever you need support—day or night

  • Easily share media: Share relevant screenshots, documents, and links to get your questions answered quickly. 

Chat is just the latest addition to our support offerings but if you prefer to talk with an associate over the phone, you can learn more about 24/7 in app phone support here.

We want to meet our customers where they are. That's why we designed our chat support to be straightforward and at your fingertips whenever you need.

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All investments involve risk and loss of principal is possible.

24/7 access to chat or phone support can be reduced or unavailable during periods of high demand, market volatility, systems upgrades, or maintenance.

Robinhood Financial LLC is a registered broker dealer (member SIPC).

Robinhood Securities, LLC provides brokerage clearing services (member

SIPC).. The Robinhood Money spending account is offered through Robinhood Money, LLC ("RHY") (NMLS ID: 1990968), a licensed money transmitter. The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard®. All are subsidiaries of Robinhood Markets, Inc. (Robinhood). © 2022 Robinhood Markets, Inc. Robinhood® 

Robinhood Financial LLC and Robinhood Crypto, LLC are wholly-owned subsidiaries of Robinhood Markets, Inc. 

Securities trading is offered to self-directed customers by Robinhood Financial. Robinhood Financial is a member of the Financial Industry Regulatory Authority (FINRA).

Robinhood Financial LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. 

Cryptocurrency trading is offered through an account with Robinhood Crypto. Robinhood Crypto is not a member of FINRA or SIPC. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities via mobile devices or Web. Relevant SEC & FINRA fees may apply. Please see the Fee Schedule.

Robinhood Financial is currently registered in the following jurisdictions. This is not an offer, solicitation of an offer, or advice to buy or sell securities, or open a brokerage account in any jurisdiction where Robinhood Financial is not registered. Additional information about your broker can be found by clicking here.

Margin trading involves interest charges and risks, including the potential to lose more than any amounts deposited or the need to deposit additional collateral in a falling market. Before using margin, customers must determine whether this type of trading strategy is right for them given their specific investment objectives, experience, risk tolerance, and financial situation. For more information please see Robinhood Financial’s Margin Disclosure Statement, Margin Agreement and FINRA Investor Information. These disclosures contain information on Robinhood Financial’s lending policies, interest charges, and the risks associated with margin accounts.

Investors should consider the investment objectives and unique risk profile of Exchange Traded Funds (ETFs) carefully before investing. ETFs are subject to risks similar to those of other diversified portfolios. Leveraged and Inverse ETFs may not be suitable for all investors and may increase exposure to volatility through the use of leverage, short sales of securities, derivatives and other complex investment strategies.

Although ETFs are designed to provide investment results that generally correspond to the performance of their respective underlying indices, they may not be able to exactly replicate the performance of the indices because of expenses and other factors. A prospectus contains this and other information about the ETF and should be read carefully before investing. Customers should obtain prospectuses from issuers and/or their third party agents who distribute and make prospectuses available for review. ETFs are required to distribute portfolio gains to shareholders at year end. These gains may be generated by portfolio rebalancing or the need to meet diversification requirements. ETF trading will also generate tax consequences. Additional regulatory guidance on Exchange Traded Products can be found by clicking here.

Options transactions may involve a high degree of risk. To learn more about the risks associated with options trading, please review the options disclosure document entitled Characteristics and Risks of Standardized Options, available here or through https://www.theocc.com/about/publications/character-risks.jsp.

Investors should be aware that system response, execution price, speed, liquidity, market data, and account access times are affected by many factors, including market volatility, size and type of order, market conditions, system performance, and other factors.

All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.

Trading in cryptocurrencies comes with significant risks, including volatile market price swings or flash crashes, market manipulation, and cybersecurity risks. In addition, cryptocurrency markets and exchanges are not regulated with the same controls or customer protections available in equity, option, futures, or foreign exchange investing.  Several federal agencies have also published advisory documents surrounding the risks of virtual currency. For more information see the Robinhood Crypto Risk Disclosure, the CFPB’s Consumer Advisory, the CFTC’s Customer Advisory, the SEC’s Investor Alert, and FINRA’s Investor Alert.

Check the background of Robinhood Financial LLC and Robinhood Securities, LLC on FINRA’s BrokerCheck.

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