Grasshopper Bank Innovator Savings

Innovator Savings is Grasshopper Bank's business savings account. Grasshopper advertises up to 3.25% APY: 1.55% APY on balances from $0.01 to $24,999.99 and 3.25% APY on balances of $25,000 and up, accurate as of 10/13/2026. Rates are variable and may change at any time, and fees may reduce earnings. The minimum opening deposit is $100. Grasshopper states no minimum balance to keep the account open, and the only balance threshold on the page is the $25,000 needed for the higher rate. The page advertises no monthly maintenance or overdraft fees. The account is opened digitally in under five minutes, with 24/7 online and mobile banking, unlimited check deposits at no additional charge, bill payments by check or ACH, and connections to QuickBooks, Autobooks and other accounting software. It includes user permissions and approval workflows, plus a dedicated onboarding specialist. Funds are FDIC insured up to $250,000, and Grasshopper says enhanced coverage up to $125 million is available. The rate is the draw, but note the cliff: a business holding under $25,000 earns 1.55%, so the headline 3.25% only applies once the balance clears that line.