Featured Savings Rates
Featured Accounts


Popular Accounts at this Bank

0.85%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 =]!

Love this savings account!!

Posted by: Jhead | Oct 13, 2016

I absolutely love my account with MySavingsDirect. During my initial setup of the account, I had improperly linked my checking account and was unable to verify it. All it took was one brief call to their customer service department to have my issue fixed. The service member was very kind and prompt in helping me fix my issue, and it was resolved by the end of the day. I have had my account for over a year now and I am still highly pleased with my experience. The website is simple, but it is also extremely user friendly. I have never had a single issue transferring my money between any of my accounts. The interest rate is also higher than most banks, so the extra money earned from keeping my savings in the is a nice bonus. I love MySavingsDirect and highly recommend it to everyone.

Too good to be true

Posted by: Pudi | Oct 10, 2016

I was attracted towards the online savings account because of the interest rate that was being offered about an year ago. Account setup was really easy to do and did not face any problems. Customer service was quick the few times I contacted them. Also, there were no minimums or fees of any sort which made it sound really good. But the interest rate kept steadily dropping from the original 1.25% that was offered. Going to the trouble of having an online savings account without access to a brick and mortar branch was worthwhile because of the interest rate that was offered. That has sadly changed. I will still be using this as a secondary bank account though because of the absence of above said restrictions that other banks usually impose on online savings accounts.

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...



Health Grade Components

FDIC Certificate #12054
Year Established1850
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.4%
Return on Equity - YTD2.37%
Annual Interest Income$133.0MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$6.46B$5.99B
LoansQ2 2016vs Q2 2015$4.29B$4.00B
DepositsQ2 2016vs Q2 2015$5.20B$4.57B
Equity CapitalQ2 2016vs Q2 2015$1.11B$1.07B
Loan Loss AllowanceQ2 2016vs Q2 2015$72.5MM$77.6MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$199.3MM$255.4MM
Real Estate OwnedQ2 2016vs Q2 2015$49.8MM$54.0MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Big Rate Drop

Maecl   |  
My Savings Direct dropped rate to .85%, down from 1%.
Hope this isn't a trend with all banks.

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MySavingsDirect Savings Account Rates

0.85%--MySavings Account

MySavingsDirect CD Rates

1.65%$1k-60 - 120 Month My Term CD
1.30%$1k-30 Month My Term CD
0.85%$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