This release is from October 28, 2024. The rates and terms it describes applied on that date and may have changed since. Current rates and terms are at tellusapp.com.
MOUNTAIN VIEW, Calif., Oct. 28, 2024 — Tellus App, Inc. (“Tellus”), the proptech company behind the Tellus savings app, has adjusted the Boost Account base annual percentage yield (APY) from 6.00% to 5.59%, effective with the October 28, 2024 rate cycle. The change applies automatically to all Boost Accounts.
After more than two years of steady increases, market rates have begun to come down, including the Federal Reserve’s 0.50-percentage-point cut in September. The Reserve Account rate is unchanged by this announcement.
How the account works:
- Boost Account. Tellus’s main cash account. Customers who deposit earn the base rate on their full balance with no lock-up, and customers can claim Boosts in the app: limited-time bonuses added on top of the base rate. Rewards are calculated daily.
What changes:
- Boost Account. Base APY moves from 6.00% to 5.59%, effective Oct. 28, 2024.
- No action needed. The new rate applies automatically to existing and new accounts.
The Tellus app is available on the App Store and Google Play.
About Tellus
Tellus App, Inc. is a proptech company headquartered in Silicon Valley. The Tellus savings app helps people save with cash accounts powered by real estate, and gives independent landlords property management software. Get more details in our How it Works page.
Tellus is not a bank. Tellus is not FDIC-insured. The Boost Account, Reserve Account and Vaults are not deposit accounts and are not FDIC-insured.
Rewards on Tellus’s non-deposit accounts vary and are determined by each customer’s actions and choices in the app.
See www.TellusApp.com for full terms and conditions.
Media contact: press@tellusapp.com
