Featured Savings Rates
Featured Accounts

MySavingsDirect

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
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 =]!

Snagged by high interest teaser rate

I was looking around for an online bank for a savings account with high interest rates in 2015. MySavingsDirect had one of the highest rates at the time, so I opened an account, which was pretty simple and straightforward. I basically drop my money in there monthly and don't touch it, but they don't really offer the complete online banking package that I'm looking for. I know I could switch to using CDs but I don't like the idea of locking my money up without being able to touch it in case of an emergency. Today, the high interest rate has dropped a little and seemed almost like a tease to get me into their bank system. While I'm still earning a good rate, I'm starting to look at other online banks just to get all of my money managed in one place instead of spread across multiple sites.

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...

Rate Drop Again

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.

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Health
B

Health Grade Components

Overall
FDIC Certificate #12054
Year Established1850
Employees575
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.57%
Return on Equity - YTD3.41%
Annual Interest Income$205.1MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$6.69B$6.61B
LoansQ3 2016vs Q3 2015$4.40B$3.98B
DepositsQ3 2016vs Q3 2015$4.81B$5.36B
Equity CapitalQ3 2016vs Q3 2015$1.13B$1.09B
Loan Loss AllowanceQ3 2016vs Q3 2015$73.8MM$77.7MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$214.0MM$245.6MM
Real Estate OwnedQ3 2016vs Q3 2015$44.1MM$57.5MM
Rates
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MySavingsDirect Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%--MySavings Account

MySavingsDirect CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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
Locations

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