The interest rate on your Baselane Banking Account is variable and will be between 1.95% and 4.19% APY. This interest rate and APY may change from time to time as determined by the midpoint of the federal funds rate target range as established by the Federal Open Market Committee of the Federal Reserve.
For additional details on calculating the interest that your account is eligible for, please refer to the table below or section 1.7 of the Deposit Agreement.
Interest Tier | End of Month Account Balance | APY earned (as of 11/15/2023) |
Tier 1 | $0-$9,999 | 1.95% |
Tier 2 | $0-$9,999 and use Baselane’s Rent Collection tool* | 2.41% |
Tier 3 | $10,000 - $24,999 | 2.93% |
Tier 4 | $10,000 - $24,999 and use Baselane’s Rent Collection tool* | 3.40% |
Tier 5 | $25,000 - $49,999 | 3.40% |
Tier 6 | $25,000 - $49,999 and use Baselane’s Rent Collection tool* | 3.87% |
Tier 7* | $50,000 and more | 4.19% |
* Must have collected rent via Baselane's Rent Collection tool in the prior 3 months to be eligible. Accounts with balances of $50,000 or more will receive the maximum APY regardless of whether Baselane's Rent Collection tool is used.
Introductory offer: New users will promotionally receive the highest tier of interest (4.19% APY) for the first three months.
Frequently Asked Questions
When is the interest credited to my account?
When is the interest credited to my account?
The interest earned is credited to your account a few business days after the end of a month.
What determines my Interest Tier?
What determines my Interest Tier?
Your Interest Tier is determined by your end-of-month balance (summed across all the Baselane Banking accounts in your login) and whether you collected Rent into any Baselane Banking account over the last 3 months.
How will I know if my Interest Tier is changing?
How will I know if my Interest Tier is changing?
You will be notified at the start of the month if there are any changes to your Interest Tier for that month. You can also check your status at any time if you log in and navigate to the Baselane Banking tab.
Do I receive the additional 0.46% APY for collecting rent on one of my Baselane Banking accounts, or do I have to collect rent into each of my Baselane Banking accounts?
Do I receive the additional 0.46% APY for collecting rent on one of my Baselane Banking accounts, or do I have to collect rent into each of my Baselane Banking accounts?
The additional APY is applied to all bank accounts, provided that at least one account has received rent via Baselane's Rent Collection tool in the last 3 months.
When is the cut-off time for calculating next month’s Interest Tier?
When is the cut-off time for calculating next month’s Interest Tier?
The Interest Tier is determined at the end of the last day of the prior month.
Do all my Baselane Banking accounts receive the same APY?
Do all my Baselane Banking accounts receive the same APY?
Yes, all accounts within the same login get the same APY.
How long does the introductory offer get applied for?
How long does the introductory offer get applied for?
This promotional offer gets applied for the first 3 interest payments on your account. For instance, if you sign up on April 20, you will receive promotional interest for April, May, and June.
Can I change or extend my promotional period?
Can I change or extend my promotional period?
Unfortunately, this is not possible under any circumstance. The promotional period starts once your Baselane Banking Account is approved. You will be notified once your Bank Account is approved and active.
Will I still receive interest if I close my Baselane Banking account?
Will I still receive interest if I close my Baselane Banking account?
If you close your Account, you will receive any interest that has accrued as of the date your Account is closed. This interest will be issued via a mailed check.