The popular online investment app is offering a new checking and savings account option for users, and the savings account comes with a pretty large return: 3%. The startup’s “Robinhood Checking & Savings” accounts have no fees or account minimums associated with them, a pain point for consumers at many other banks.

That said, those accounts are a bit different than what you might get from a traditional bank.

Specifically, the Robinhood savings account is SIPC-insured, not FDIC-insured.

That means that while it’s called a “Savings” account, you’re essentially opening a brokerage account with the company, which is protected in a different way.

Robinhood is splitting transaction fees with Mastercard, who will be issuing its debit card.

It will also earn interest off consumer assets it holds.

The checking and savings accounts launched Thursday, along with a new version of Robinhood’s app.