I recently came across an interesting new savings account, and I am excited to share it with you all today.
I think you’ll want to hear about this as it’s such an interesting and new concept.
Here’s a quick overview of the new savings app that gives you the opportunity to win $10,000,000 every single week.
Yotta Savings uses the psychology that drives Americans to play the lottery to instead motivate Americans to save money.
For every $25 that you save with Yotta, you have the chance to win $0.10 all the way up to $10,000,000, every week.
And, if you don’t win, your cash that you’ve saved still has a 0.20% savings rate, which is twice as high as the national average.
The creators of Yotta built this savings app to help Americans meet their savings goals. This is especially important because according to the Federal Reserve, 40% of Americans do not have $400 for an emergency. However, even though that is a crazy statistic, Americans still spend $80 billion on the lottery every year, which averages out to $640 per U.S. household.
This is a lot of money spent on the lottery, instead of saving money. But, I can understand the mindset. This is where Yotta comes in. Yotta makes saving fun and provides rewards for saving, which many people need the motivation for.
The creators of Yotta Savings were inspired by Premium Bonds in the UK, where 23,000,000 people use savings products to win prizes as well. It’s a similar product to Yotta Savings with over $100 billion in deposits.
If you use my code MICHELLE, then you will get 100 free tickets into the next week’s drawing.
Here’s my Yotta Savings review.
How does the Yotta Savings app work?
After reading all of the above about Yotta Savings, I’m sure you are interested in how exactly the savings app works.
Using Yotta is easy. You start by:
- Making a deposit. You select your bank to make a deposit from and for every $25 that you save, you get a ticket into weekly number draws. So, if you deposit $100, then you get 4 tickets every week for as long as you keep that $100 in your account without needing to make any new deposits.
- Every Monday, you pick 7 numbers for each of your tickets. If you don’t pick numbers, that’s fine as well – your ticket will be automatically picked if you don’t complete it in time.
- Contests are done weekly, with one number drawn every night at 9pm ET. On Sunday, the final number is drawn and winnings for the week are made.
- Finally, you can win up to $10,000,000. The more numbers you match, then the more money you win. If you match all 7 numbers with the numbers that are drawn, then you win the $10,000,000 jackpot.
What’s great about Yotta is that your savings still grow at a rate of 0.20%. If you include the value of prizes where they’re currently set, you get over 3% all-in on your savings, which is the highest rate that I have seen.
That is twice as much as traditional banks, plus you can set aside money in a separate account and play their contest with no risk.
Here’s an image that shows what savings accounts usually pay when it comes to interest.
Is Yotta Savings legit?
Yotta is completely free.
There are no minimums, no monthly fees, so there is no risk.
You can save money in their savings account, plus have the chance to win drawings.
Other positives of the Yotta Savings App:
- Your savings account is FDIC insured and held at Evolve Bank & Trust, a bank that has been around for over 90 years.
- FDIC insurance means your cash is fully guaranteed by the U.S government for up to $250,000.
- Your account is protected by bank-grade encryption and authentication.
How do I sign up for Yotta Savings?
Signing up is easy:
- You can click here to sign up for Yotta Savings, and all you need to sign up is your name and email address.
- If you use my Yotta referral code MICHELLE, then you will get 100 free tickets into the next week’s contest.
- To earn tickets to their weekly prize draws, you will have to connect a bank account and make a deposit.
Yotta Savings Reviews
I did a lot of research on Yotta Savings, and you can find reviews from real customers at:
The reviews were almost entirely positive (except for one person who had a small technical difficulty), so I would say that this savings app is definitely something more people should check out.
I know that I am personally excited to try it out. While I don’t play the lottery, it is easy to get tickets just due to keeping money in this savings account, which is super easy!
The Yotta Savings App definitely makes saving money more fun.
The Yotta Savings email address is firstname.lastname@example.org in case you have any other questions.
What do you think of Yotta Savings? What questions do you have about Yotta Savings?
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