Symphony has launched what it bills as the first US savings app that rewards customers with credit-card-style points and miles, paired with a fixed 5% APY. It argues that savings is the one c
Symphony has launched what it bills as the first US savings app that rewards customers with credit-card-style points and miles, paired with a fixed 5% APY.
It argues that savings is the one corner of consumer finance that never got the rewards treatment, and that attaching points to savings can make people save more, the same way points made people spend more.
Vik Chawla joined TheStreet Roundtable to explain why this was launched and what it means for savers looking to make their capital work harder.
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Chawla explained how spending had become replete with incentive and rewards programs, while saving had remained the same for decades.
"Savings is still just that account you just put money into and it just sits there and you get no perks or benefits for doing so. So we thought that was pretty backwards," he said.
Symphony has partnered with major airlines and hotel programs, the same ones behind Amex and Chase cards, so customers earn points on their balance while also earning 5% APY. Interest can be taken as points or as cash.
“The thesis is that you can essentially travel around the world by just saving money, because these points unlock flights, hotels, business class upgrades, really unique experiences,” Chawla said.
Loyalty points are where the money already is. Chawla pointed out that airlines, where spending rewards programs are standard across the industry, make most of their money from these programs, not tickets.
A recent analysis found that without their frequent-flyer programs, all five major US airlines would have posted operating losses. Delta's SkyMiles program alone is valued around $31.7 billion.
The comparison Chawla draws is Bilt, the rent-rewards startup that rode the same points dynamic to a $10.75 billion valuation in 2025.
The behavioral hook is the entire point, and the risk.
"Points are a very addicting cycle. And that's what cards have been using for years to make you spend more," Chawla said.
Symphony bills itself as the first in the U.S. to put points on savings and wants to capture a large share of the "non-credit-card points world." The loyalty economics behind it are real and lucrative.
The open questions for a saver are the fine print: whether the 5% APY holds, how points are valued at redemption, and whether the rewards beat what a plain high-yield account already pays.
Read the full announcement hhere.
