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Introducing Vaults

If you’re going to be setting money aside for months at a time, you might as well get paid a little extra for it. Vaults is our game-changing new cash account where you can lock up your money for 6, 12, or 24 months and enjoy an incrementally higher APY than the Boost Account.

Jeet Desai
Jeet Desai

The funny thing about achieving your financial goals is that it’s all about consistency over the long run. Saving money for only a few months just isn’t going to cut it. It’s a journey you’re on for the long haul!

Lock-in a higher APY by locking up your money for a fixed period. 🔐

If you’re going to be setting money aside for months at a time anyway, you might as well get paid a little extra for it.

That’s why we launched Vaults!

Vaults is the perfect way to lock in some of your savings in exchange for an even higher interest rate. Make the most of every day you save, hassle-free.

How does it work?

To set up your first Vault, fund it upfront with an amount that best suits your goals. Then choose how long you’d like to lock up those funds for, and your Vault will automatically accrue interest. Once your selected term has elapsed, the money in your Vault is free to move, and the entire Vault balance is transferred into your Boost Account, so you don’t miss out on a single day of interest.

No caps or limits

If you’re saving thousands or hundreds of thousands, Vaults are an option for you! There’s no upper limit to the amount of money you can keep in a Vault. The minimum balance to fund a Vault is $1000.

Choose your term & rate

You’ve got choices when it comes to locking up your funds. For now, you can choose between three Vaults:

Watch your interest grow every day

Just like all of the other accounts we offer, your interest will compound every single day. That way, you’re getting the most bang for your buck every day you continue to save.

The best part

You can create as many Vaults as you want!

So get ready to sit back and relax while your money works hard. Your future you will thank you.

Download the app and open up a Vault!


What is Vaults?

Vaults is our game-changing new cash account where you can lock up your money for 6 months, 12 months, or 24 months and enjoy an incrementally higher APY than the Boost Account.

Why should I use Vaults?

When you lock up your funds, you earn a higher interest rate for the entire term of your choosing. No Boosts or extra effort necessary. There is no maximum limit to the initial principal you can lock up.

Is there a minimum amount required to open a Vault?

Vaults require a minimum initial deposit of at least $1,000.

How do I fund a Vault?

A Vault can be funded by the following: Boost Account transfer, Stack Account transfer, and an external deposit. Aging rewards *cannot * actually be transferred to a Vault account. This is not unique to Vaults -- pending transfers or aging rewards are linked to the original destination account until they process and become "available." The funds used to fund a Vault must be "available" even if they are coming from a Boost or Stack account. This is because technically if you close a Vault you can submit a withdrawal for those funds in the same day.

Can I make additional deposits after my Vault is funded?

After a Vault is funded for the first time, you can’t send additional deposits to it. The initial principal is locked in. However, you can open additional Vaults at any time and can have as many active Vaults as you wish.

What happens at maturity (when my Vault's term has expired)?

Your principal deposit and earned interest will be automatically transferred into your Boost Account and immediately available for withdrawal.

When can funds be withdrawn from a Vault?

When the full term has run its course and the account has reached maturity, your initial deposit and any interest earned will automatically be added to your Boost Account. Before the Vault has reached maturity, you can withdraw your initial principal that was deposited, but you’ll forgo any of the interest that may have been accrued.

Are there any penalties or fees associated with Vaults?

There are no penalties that are ever incurred when using Vaults. However, initiating a withdrawal before it has reached maturity will forgo any interest those funds have accrued.

Can Boosts be applied to a Vault?

No, you cannot apply a boost to your Vault. Once a Vault is created, you can sit back and relax knowing that your high interest rate is locked in for the entire duration of the Vault.

Are Vaults FDIC insured?

No, Tellus is not a bank and therefore none of the funds deposited into Tellus products are protected by FDIC insurance. And since your financial security is our highest priority, we use a Triple Layer Protection to protect your money:

  1. Collateral: Every dollar Tellus lends is backed by high quality, US-based residential real estate collateral.
  2. Capital: As a second mitigation layer, we hold cash proportional to every dollar deposited to provide an additional liquidity buffer.
  3. Systems: Enjoy peace of mind with bank-level AES 256 encryption supported by industry-leading partners and US-based treasury and risk management practice.

Have a question we haven’t answered?

Chat with our Customer Success team in the app.