Online trading app Public.com plans to offer traders to earn 4.8% yield with a Treasury Account on Public.

When traders move their cash into a Treasury Account on Public, they will earn the safe, reliable yield of Treasury bills. These short-term securities are issued by the US Treasury and typically pay a higher yield than traditional and high-yield savings accounts.

Traders can lock their rate in three simple steps:

• Move your savings: It’s easy to transfer your savings to Public by linking a bank account or making a deposit with your debit card.
• Create your Treasury Account: Once you’ve moved your savings, you can purchase and manage your Treasury bills from one account.
• Lock in your rate: Treasury bills are a fixed-income asset, which means their rate of return is fixed at the time of purchase.

Treasury bills on Public are provided by Jiko Securities, Inc., a registered broker-dealer, member FINRA and SIPC. As Public members, traders can invest in Treasuries for as little as $100 and track their yield over time directly in the app. Plus, they can manage their investments right alongside your stocks, ETFs, crypto, and alternative assets.

In exchange for the management, trading, and custody of Treasury services, Jiko charges a flat management fee of 5 basis points per month based on the average daily balance of your Treasury account. This amount will be deducted from your Treasury account on a monthly basis. Public receives a portion of that management fee as a referral fee.