Featured Savings Rates
Featured Accounts


Popular Accounts at this Bank

1.00%SavingsMySavings Account
1.65%5-year CD60 - 120 Month My Term CD
1.30%3-year CD30 Month My Term CD

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 =]!

A Decent Online Bank for Normal People

From signing up for a money market account to the fairly high interest rate I receive in return, MySavingsDirect has been a pleasure to do business with. Not only do I get quite a bit of interest, but I'm also deterred from withdrawing my funds, as the process is long and complex, which may sound like a bad thing but it definitely helps me manage my money. Making deposits from my main bank account to my money market account is also very simple and hassle-free/ They also offer checking and savings accounts for their customers, though I haven't looked into these type of accounts yet. This was my first experience with an online-only bank and it's been a pretty good experience, as I've run into no issues with the service itself or customer service. I would recommend this online bank to any and all of my friends and family.

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...

Teaser Rates with No Bottom

This website is one of many set up by Emigrant bank. I knew nothing about them until I set up this savings account because it offered me an attractive interest rate for savings accounts. Within 30 days of opening the account I recieved notice that they were cutting the rate by a quarter percent. 30 days later they cut it anothe quarter percent. They continues this until after four months the account was paying me 0.1% for a savings account at a time when there were multiple online banks paying in the 1 1/4 range. I later learned that this is typical for them as they have set up several of these websites that always use the same M.O.. They lure people in with a competative rate and then assume we are too lazy or too busy to notice we are getting shafted as they rapidly cut it to near zero.



Health Grade Components

FDIC Certificate #12054
Year Established1850
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.81%
Return on Equity - YTD4.65%
Annual Interest Income$222.9MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$6.53B$6.69B
LoansQ3 2017vs Q3 2016$4.49B$4.40B
DepositsQ3 2017vs Q3 2016$4.62B$4.81B
Equity CapitalQ3 2017vs Q3 2016$1.15B$1.13B
Loan Loss AllowanceQ3 2017vs Q3 2016$78.0MM$73.8MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$193.7MM$214.0MM
Real Estate OwnedQ3 2017vs Q3 2016$34.1MM$44.1MM
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MySavingsDirect Savings Account Rates

1.00%--MySavings Account

MySavingsDirect CD Rates

1.65%$1k-60 - 120 Month My Term CD
1.30%$1k-30 Month My Term CD
1.00%$1k-6 Month My Term CD

MySavingsDirect is an Internet only bank and does not have branch locations. Its headquarters is located at 5 East 42nd Street - New York, NY 10017