What does it mean to earn more interest?

For a monthly or annual fee, you get access to Gold’s premium features. This includes a higher interest rate for subscribers who opt into our brokerage cash sweep program. Our brokerage cash sweep program allows Robinhood Gold members who opt in to earn a 5% annual percentage yield (APY)* on uninvested brokerage cash that is swept to the banks in our program, 1.5% APY* without Gold. That means you can put your money to work, even if you’re not currently investing it. Rates are subject to change.

For example, if you start January 1 with $1,000 in uninvested brokerage cash and 2% APY that is swept to the program banks, you could earn $20 by January of the following year. This includes compounding, assuming you don’t deposit or withdraw funds for the entire year.

Your interest will be paid by the program banks monthly, and you can keep track of how much interest you’ve earned in Settings → Investing.

The hypothetical calculation shown is for illustrative purposes only and assumes the interest rate and balance do not change for the year. Actual amounts earned may vary. The brokerage cash sweep program is an added feature to your Robinhood Financial LLC individual investing account. Robinhood Gold is offered through Robinhood Financial LLC. For more information, see the Robinhood Gold User Agreement.

The cash sweep program is an added feature to your Robinhood Financial LLC individual investing account. Interest is earned on uninvested cash swept from your individual investing account to the program banks. Program banks pay interest on your swept cash, minus any fees paid to Robinhood. As of Nov 15, 2023, the APY that you will receive is 1.5%,* or 5% for Gold customers.

With the brokerage cash sweep program, the uninvested cash in your individual investing account (cash intended for investing but that you have not yet invested or spent) is swept to program banks, where it becomes eligible for FDIC insurance up to $2.25 million or $250,000 per program bank, inclusive of any other deposits you may already hold at the bank in the same ownership capacity, which may impact how much is covered. Robinhood is not responsible for monitoring the amount of your deposits in any program bank, whether these deposits are made through the brokerage cash sweep program or otherwise, to determine whether the amount on deposit exceeds the limit of available FDIC insurance.

Note that until funds are swept to a program bank, they are held in your individual investing account which is protected by SIPC. Once funds are swept to a program bank, they are no longer held in your individual investing account and are not protected by SIPC. However, these funds are eligible for FDIC insurance through the program banks (banks currently in the program), which are subject to FDIC insurance coverage limits. Check out the IND Disclosures for more information about how the sweep program works and how we treat your uninvested cash balance.

Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.

Robinhood Financial LLC (member SIPC) is a registered broker dealer. Robinhood Securities, LLC (member SIPC) is a registered broker dealer and provides brokerage clearing services. All are subsidiaries of Robinhood Markets, Inc. (Robinhood).