MySavingsDirect

Popular Accounts at this Bank

APY	ACCOUNT TYPE	ACCOUNT NAME
1.00%	Savings	MySavings Account 1.20% - Goldman Sachs Bank USA Online Savings
1.65%	5-year CD	60 - 120 Month My Term CD 2.25% - Bank of Internet USA 60 Month CD
1.30%	3-year CD	30 Month My Term CD 2.00% - Goldman Sachs Bank USA 3 Year CD

View all MySavingsDirect rates »

Overview / Commentary

www.mysavingsdirect.com

5 East 42nd Street
New York, NY 10017

Fitch Upgrades Emigrant's Rating To Stable...

Posted by: Tee | Jun 12, 2015

Please keep in mind while a third-party may make deposits into your my savings direct account they will not be permitted to make withdrawals out of the account. Withdrawals from your savings account can be made by logging into your my savings direct account and scheduling a transfer to your linked external checking account. Interest is credited only if your account is open on the last day of the month so it is important to keep this in mind please...FDIC Insured...Excellent Customer Service.
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Comment

38

They Are Great!

Posted by: Ronnie | Jun 11, 2015

This guy above or below is out of his mind for giving this bank 1 star just because of their security policy....

Here's my take on this bank:

Sure the staff is not the best, no fancy app, no sexy webpage and no debit card.

The bottom line is right now they are beating every MMA/savings account with 1.25% APY.... So stop whining! They are keeping their cost low and in return you get a healthy APY.

So you are worried they have a C+ Health rating ..... Who care's as long as you don't have over 250k (500k for joint account) then this shouldn't worry you since they are FDIC insured.

So if you have some money you wanna put to safe work, this bank is awesome, you won't get any checks or debit card to easily access your money, you will need to do a free ACH transfer to your primary checking account, but again who cares it's a savings account you can wait 2 days.

I was super skeptical when I opened my account but I conducted extensive research and went for it... My account took a day to setup, they didn't even email me to let me know I was approved (they are really keeping the budget low lol). Funding my account took another day and the portal to view my account is nice and simple.

Also another perk is that the Mint.com app supports this bank. The last bank I had my savings in didn't !

Another perk is absolutely no fees!

Hope this helps someone =]!

112

15 Point Rate Drop :((

Posted by: pilot223 | Sep 11, 2015

Well, I am really disappointed. I just got an account opened up, and the rate dropped from 1.25% down to 1.10%. That's a pretty big drop, especially when the trend lately has been rising rates...

62

Rate Drop Again

Posted by: theanchorman | Jan 5, 2016

Within a year the rate dropped from 1.25 to 1.10 and now to 1.00%. Terrible how companies get you to join and then drop their rates.

27

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Health

C+

Data as of Q2 2017

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	12054
Year Established	1850
Employees	590
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.7%
Return on Equity - YTD	3.99%
Annual Interest Income	$146.4MM

Assets and Liabilities
Assets	Q2 2017vs Q2 2016	$6.41B$6.46B
Loans	Q2 2017vs Q2 2016	$4.31B$4.29B
Deposits	Q2 2017vs Q2 2016	$4.30B$5.20B
Equity Capital	Q2 2017vs Q2 2016	$1.13B$1.11B
Loan Loss Allowance	Q2 2017vs Q2 2016	$79.7MM$72.5MM
Unbacked Noncurrent Loans	Q2 2017vs Q2 2016	$211.6MM$199.3MM
Real Estate Owned	Q2 2017vs Q2 2016	$32.7MM$49.8MM

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