This release is from November 1, 2023. 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., Nov. 1, 2023 — Tellus App, Inc. (“Tellus”), the proptech company behind the Tellus savings app, today raised the Reserve Account annual percentage yield (APY) from 6.10% to 8.00% and the Boost Account base APY from 5.75% to 6.00%.
Reserve and Boost rates update automatically for existing accounts. Reserve’s rate applies up to each account’s balance limit.
How the accounts work:
- 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.
- Reserve Account. A sub-account with a balance cap. Customers who set money aside in Reserve earn a higher rate on it than the Boost base rate. Anything above the cap flows to the customer’s Boost Account, and Boosts do not apply to Reserve.
What changes:
- Boost Account. Base APY rises from 5.75% to 6.00%, effective Nov. 1, 2023.
- Reserve Account. APY rises from 6.10% to 8.00%, effective Nov. 1, 2023.
- 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.
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
