Spruce, the mobile banking app built by H&R Block announced the addition of high-yield interest on savings accounts to potentially help customers stretch their dollars even further and achieve their savings goals fast. With a 3.50% APY, Spruce customers who opt in can now earn interest at seven times the national average. Spruce?s High-Yield Interest on Savings Joins Features Designed to Enhance Financial Health: Compounding Interest.

With Spruce, after opting-in to earn interest, customers can benefit from daily compounding interest and earn 3.50% APY on every penny saved. With the ability to establish two separate saving goals in addition to their Extra Saving account, it is easy to set and track specific saving goals. In addition, Spruce customers can earn interest on deposits from Cash Back Rewards at participating retailers.

Saving Goals That Work. From paying for school to buying a car, set personalized goals to save for what?s important. Spruce makes reaching those goals easier than ever with nudges.

Spruce customers can add and withdraw from savings as often as they want ? without penalty. Customers also can enjoy automatic savings through Round Up, an optional feature that automatically rounds up transactions to the next dollar amount and deposits the spare change into their Extra Saving account.

Personalized Budget Trackers. With tools like the Watchlist, which tracks month-to-date spending and lets customers set spending limits by customizable categories, Spruce can help make improving financial health easier. Cash Back Rewards.

Even while spending money, Spruce customers can still make money with automatic cash back rewards added to their Extra Saving account when they shop across the 10,000 participating retailers. Fee Transparency. With Spruce there are no sign-up or monthly fees, and no minimum balance required.

Additionally, there is no ATM service fee if you withdraw money at one of the more than 55,000 Allpoint ATMs available nationwide and easy to find through the Spruce app. Courtesy overdraft coverage is provided, which allows qualifying customers who opt in to overdraft their account by up to $20 without a penalty fee. The Spruce mobile banking app can be downloaded in app stores.

New and current customers can opt into interest directly in the app or by visiting sprucemoney.com after opening or signing into their account.