Available nationwide, MyBankingDirect is offering a 5.00% APY Rate for their High Yield Savings Account.
Update 9/24/24: MyBankingDirect is currently offering one of the highest rates in the country at 5.00% APY (just a slightly decrease from 5.25%)! We recommend the Western Alliance Bank High-Yield Savings Premier account to earn some of the top rates available!
MyBankingDirect High Yield Savings Review
MyBankingDirect is a service of New York Community Bank. They offer personal and business banking products and services. Money markets accounts offer interest rates that are usually among the best in the country and have an initial minimum deposit requirement.
I’ll review MyBankingDirect High Yield Savings below.
MyBankingDirect High Yield Savings Rate
To earn the APY Rate, just open a new account and meet all of their requirements. It’ll only take a few minutes to open an account online.
- What you’ll get: 5.00% APY
- Eligible account: High-Yield Savings Account
- Credit inquiry: Unknown
- Where it’s available: Nationwide
- Opening Deposit: $500
- Monthly fee: None
- Early Termination Fee: None
(FDIC Insured)
How to Earn MyBankingDirect Rate
- Fill out the form to open a High-Yield Savings Account
- Make a minimum initial deposit of $500
- Before you begin, be sure to have the following information available to complete your account application.
- Personal Information
- Social Security Number or Tax Identification Number
- Valid U.S. Address
- Form of identification
| Balance Requirement | APY Rate |
| $1+ | 5.00% APY |
Editor’s Notes:
- In the past, outbound ACH transfers initiated were limited to $5,000 per day and $20,000 over rolling 30 days. However, according to CSR, the transfer limits have increased to $50,000 per day and $200,000 over a rolling 30 calendar day period.
MyBankingDirect Account Features
- NO monthly or maintenance fees.
- Interest earned on daily balances of $1 or more.
- Interest is credited monthly.
- NYCB Online
- NYCB Mobile with mobile deposit
- FDIC Insured
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Conclusion
MyBankingDirect is currently offering a great High Yield Savings account, and earn a competitive APY rate. They offer a variety of financial features so be sure to take advantage. However, if you don’t find this offer attractive, check out other bank rates.
In addition to the rate from MyBankingDirect, check out our list of best rates Savings, Money Market, and CD accounts.
If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.
