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 =]!

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.

BEWARE Of Their ACH Rules!

Posted by: msshank | Jan 23, 2017

I found out (the very hard way) that they will only honor OUTGOING ACH-x-fers, from THEIR website (note: they allow only 2 links from their site). They will, however, allow INCOMING ACH-x-fers from anywhere, which is where I ran into trouble - I had linked several other accts, successfully xferred $$ into the acct many months ago and then when their teaser-rate dropped, initiated transfers (out of MySavDirect) from those external banks, and incurred all sorts of penalties from the other banks when those ACH transactions were later denied by MySavingsDirect. No recourse in either direction - MySavDirect stands by the fine print somewhere in the gazillion pages of legalese that I agreed-to w/ a quick click of my mouse, and the other banks have a valid case that the $$ never showed up to cover the subsequent transactions that I made in the other accts. - a BAD thing!
To summarize, MySavingsDirect uses ACH as a one-way-street - i.e., they'll take money from anywhere, but will only give it back from their own website. Live & learn - won't ever do business w/ them again - ever!



Health Grade Components

FDIC Certificate #12054
Year Established1850
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.7%
Return on Equity - YTD3.99%
Annual Interest Income$146.4MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$6.41B$6.46B
LoansQ2 2017vs Q2 2016$4.31B$4.29B
DepositsQ2 2017vs Q2 2016$4.30B$5.20B
Equity CapitalQ2 2017vs Q2 2016$1.13B$1.11B
Loan Loss AllowanceQ2 2017vs Q2 2016$79.7MM$72.5MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$211.6MM$199.3MM
Real Estate OwnedQ2 2017vs Q2 2016$32.7MM$49.8MM
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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