Robinhood Increases Gold Member Interest Rate
May 3rd, 2023Product
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Robinhood has raised the Gold members' interest rate to 4.65% APY effective from May 4, 2023.
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FDIC insurance coverage for eligible customers will increase to up to $2 million starting June 1st.
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From November 15, the Gold Cash Sweep rate will be 5.0% APY, benefiting customers with higher earnings on uninvested cash.
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Gold membership provides benefits such as bigger instant deposits, margin investing, real-time market data, and professional stock research.
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Interest for Robinhood Gold members compounds daily, is paid out monthly, and users can track earnings within the app.
