As of December 2025 Karat offers up to 1.75% APY on checking deposits for Karat Premium members and up to 2.75% APY on deposits in our Automatic Tax Planning product for Karat Premium members. Karat Basic Banking members can earn up to 0.75% APY on their Automatic Tax Planning account.
Please note that rates are tied to rate set by the Federal Reserve and are subject to change.
Karat is a financial technology company and not a bank. Banking services provided by Grasshopper Bank, N.A., member FDIC.
Karat perks including offering APY rewards on deposits are offered by Karat. The advertised rates are effective as of 12/12/25 and are subject to change. See Deposit Account Agreement Disclosures (trykarat.com/deposit-account-agreement-disclosures) and Karat Premium Terms of Service (trykarat.com/karat-premium-terms-of-service) for details.