H&R Block’s Spruce launches high yield 3.50% APY for savings accounts

Spruce announced the addition of high-yield interest on savings accounts to potentially help customers stretch their dollars even further and achieve their savings goals faster.1 With a 3.50% APY, Spruce customers who opt in can now earn interest at seven times the national average. “Today’s economic landscape has presented many financial challenges for individuals across the nation, from pandemic-related disruptions, rising inflation, and more,” said Les Whiting, Chief Financial Services Officer at H&R Block. “At Spruce, we go beyond simple money management and instead serve as a catalyst to empower our customers to navigate the financial ups and downs in their lives with confidence and ease. Combined with our other saving, spending, and budgeting tools, this new offering could help our customers reach their savings goals even faster.”