If you have an idea for a creative business or side project but don't have the cash to fully invest in it, crowdfunding through Kickstarter might be able to help. Kickstarter is a popular platform that individuals use to fundraise money. Large pools of supporters donate small amounts of money to their campaign, and creators don't need to pay the money back.
Read on for a deeper review of Kickstarter.
Kickstarter
Cost
5% of total funds raised; payment processing fee of 3% + $0.30 per pledge
Standout features
Project categories are quite diverse and range from arts and crafts, design, dance, music, publishing, technology and more. Business owners and creators launch a project and set a funding goal with a deadline. You'll only be charged if you reach your funding goal by that deadline.
Kickstarter review
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
$0
$0
1.00% APY on balances of $0.01-$24,999 and over $250,000; up to 1.35% APY on balances of $25,000-$250,000
$0
$0
None using the base version; Found Plus* subscribers earn 1.50% APY on balances up to $20K.
How does Kickstarter work?
Kickstarter lets individuals crowdfund money for projects that can span arts and crafts, film, photography, tech, publishing and more. Creators set a funding goal for their project and a deadline by which the funds should be raised.
Individuals "pledge" small amounts of money to help creators reach their fundraising goal for their project.
According to Kickstarter's website, funding is all-or-nothing, which means that creators won't receive the funds they raise if they don't reach their goal. Also, pledgers are only charged if creators reach their fundraising goal.
Pledges don't receive equity in any ventures run by the creators they back. However, creators may offer rewards to show their appreciation. Rewards may be free merchandise, exclusive discounts, a copy of the work produced by the project and more.
Creators can set deadlines of up to 60 days, but Kickstarter's website says that they usually see 30-day fundraising windows work best. You're locked into the fundraising goal and deadline once your campaign is live and can't change either. Campaigns also can't be paused, but if you need to stop it for any reason, you can cancel the campaign and relaunch later.
Kickstarter campaigns cannot be created to donate money to charity or to pay yourself. However, you may factor a fair salary for yourself into the project's fundraising goal.
CNBC Select previously spoke with Dr. Jenny Woo of Mind Brain Emotion, who used Kickstarter to raise money for a business venture. Read some of Dr. Woo's insights on launching a business in our article.
Pricing
Kickstarter takes a 5% fee deducted from your funds if your campaign reaches its goal. Pledges get charged a processing fee of 3% + $0.30 per pledge.
If you don't reach your goal, no fees will be taken.
Pros and cons
Consider these pros and cons if you're having trouble deciding if Kickstarter is the right way to raise cash for your next project or business venture.
- Free to sign up and launch a project (Kickstarter takes a 5% fee if you meet your fundraising goal)
- Wide range of project categories supported
- Offers resources/crowdfunding tips
- Offers opportunities for your project to be backed by large organizations and institutions
- Your project gets in front of a large online audience, especially if chosen to be highlighted on Projects We Love
- You don't get to keep raised funds if you don't reach your goal
- In many cases, Kickstarter funds are considered taxable income
- Not every campaign can be featured on Projects We Love
Kickstarter alternatives
Kickstarter can be a solid way to raise money for a creative or business project if you don't have enough personal savings and don't want to take on debt to fund it. You won't pay anything upfront to set up a campaign as a creator, but you will have 5% deducted from your proceeds if you reach your fundraising goal, and your funds may count as taxable income.
You won't receive any funds if you don't reach your goal by your deadline. If Kickstarter doesn't sound like the right fit for you, there are other ways to fund your creative business venture.
Save up to bootstrap
If you don't urgently need funds, try saving up for your venture. It can take a while but depositing your money into a high-yield savings account like the Marcus by Goldman Sachs® High-Yield Online Savings Account or the CIT Bank Platinum Savings Account can help your savings grow a bit faster since you'll be paid higher amounts of interest compared to traditional savings accounts.
Marcus by Goldman Sachs High Yield Online Savings
Annual Percentage Yield (APY)
3.40%
Minimum balance
None
Fees
No monthly maintenance, overdraft or excessive transactions fee
Maximum transactions
No limit to the number of withdrawals or transfers you can make
Checking account
No
ATM card
No
Terms apply.
Pros
- No minimum deposit, no minimum balance and no monthly fees, making it one of the most straightforward savings accounts to open and maintain.
- No limit on withdrawals or transfers, so you can move your money as often as you need without penalty.
- Earns a competitive APY with no conditions or hoops to jump through.
- Easy-to-use mobile app makes managing your savings simple from anywhere.
- Also offers no-fee personal loans through Marcus, a useful perk if you ever need to borrow.
Cons
- Higher APYs are available elsewhere, so it may not be the top pick if maximizing your rate is the priority.
- No checking account option, so you’ll need a separate account for everyday spending.
- No ATM access or debit card, making it best suited as a dedicated savings account paired with another bank.
CIT Bank Platinum Savings Account
Annual Percentage Yield (APY)
4.25% APY for six months when you enroll with promo code Boost501 and maintain at least $5,000 in the account. After the promotional period, the standard top-tier APY applies (currently 3.75%2 APY on balances of $5,000 or more)
Minimum balance
$100 minimum deposit
Monthly fee
None
Maximum transactions
No limit – Max currently paused
Excessive transactions fee
Currently paused
Overdraft fee
None
Offer checking account?
Yes
Offer ATM card?
Yes, if have a CIT Bank checking account
Pros
- Earns a strong APY on balances of $5,000 or more, making it a rewarding option for savers with larger deposits.
- Low $100 minimum deposit to open, so you don’t need to commit a large sum upfront to get started.
- No monthly fees and no overdraft fees, so nothing is cutting into your savings.
- Option to add a CIT Bank checking account with ATM access, keeping your banking and savings in one place.
Cons
- The high APY only applies to balances of $5,000 or more, so smaller balances won’t earn the top rate.
- No physical branch locations, so all banking is done online or by phone.
- Excessive transaction fees may apply, though they’re currently paused.
For complete list of account details and fees, see our Personal Account disclosures.
*1This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria. Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.50% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate. The Promotion begins on September 29, 2026, and ends December 15, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions. The promotion can end at any time without notice. Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 21, 2026.
*2Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100. 2Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of July 1, 2026.
If you're building a more robust business that will require significant amounts of funding, or your business is already off the ground but you need more money to grow operations, then you may consider a small business loan from lenders like Credibly or OnDeck. They offer loans as high as $600,000 and $250,000, respectively.
Offers many types of loans including long-term loans, working capital loans, business line of credit and merchant cash advance
- 500 credit score minimum
- Funds may be available within four hours
- User reviews praise customer service
- Prepayment discount available
- High monthly revenue required
- Potential for high factor rates
Flexible credit and eligibility requirements make OnDeck attractive to businesses that may struggle to qualify elsewhere. But its accessibility and fast funding is countered by higher APRs, frequent (daily or weekly) repayment schedules and the need for a personal guarantee.
- Low minimum credit score requirement
- Can build business credit
- Same-day funding available for loans of up to $100,000
- APRs and origination fees can be high
- Daily/weekly repayment terms can impact daily cash flow
- Doesn't lend in Nevada, North Dakota or South Dakota
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every crowdfunding review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of small business products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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*Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of July 1, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
