By Aisha S Gani | Updated on Jun 09, 2026 at 12:30 PM
Klarna Group Plc is launching savings accounts in the US as the digital lender looks to deepen its core banking business and attract more everyday users.
The Stockholm-based fintech is launching a high-yield savings product with an annual percentage yield starting at 3.28%, according to an emailed statement. Such accounts are designed to allow customers that use Klarna for spending to also hold savings with the firm.
“The average American earns less than 0.5% on their savings, not because better options don’t exist, but because their bank hasn’t had to compete,” Klarna Chief Executive Officer Sebastian Siemiatkowski said in the statement.
Most savings accounts in the US typically offer low returns, though many banks have launched high-yield accounts with low minimum deposits. Marcus by Goldman Sachs Group Inc. currently pays an annual yield of 3.4%, while SoFi Technologies Inc. is offering up to 3.8% for six months.
Klarna, known for offering buy-now-pay-later loans, is looking to grow in the US and compete with more mainstream banks. The firm is offering its savings accounts through a partnership with the Federal Deposit Insurance Corp.-insured WebBank.
In the first three months of this year, Klarna’s revenue rose to $1 billion, up 44% from the year prior, thanks to rising interest income and an increase in sign-ups for Klarna’s debit card and fee income from partnerships.