Available for residents nationwide, MySavingsDirect offers 4.35% APY when you open a MySavings account.
The account has no fees and no minimum requirement. Open your high interest savings account online. Access your high yield savings account 24/7 at MySavingsDirect.com.
About MySavingsDirect MySavings
MySavingsDirect is FDIC insured with Emigrant Savings Bank and helps provide fantastic APY rates when you open an account, as well as great services and features.
With such great Online Savings rates you can earn big! The account gives you access to online banking, eStatements, mobile banking, text alerts, and so much more.
| Balance Requirement | APY Rate |
| None | 4.35% APY |
MySavingsDirect MySavings Rate
- Account Type: MySavings Account
- Interest Rate: 4.35% APY
- Minimum Balance: None
- Maximum Balance: None
- Availability: Nationwide
- Credit Inquiry: Soft pull
- Opening Deposit: $1 minimum initial deposit
- Monthly Fee: None
- Early Termination Fee: None
(FDIC Insured)
Important Details for MySavingsDirect
- A single beneficiary (Social Security number required) can be added, using the online application. Afterwards, more beneficiaries can be added by using the “Beneficiary Tab” listed in the “View My Account.”
- Only external ACH deposits are allowed following the opening deposit.
- No ACH withdrawals initiated by another bank. External ACH deposits are allowed.
- Maximum of 2 linked accounts which includes the initial funding account
- After 60 days, establishing second linked account requires mailing in a voided check and form.
- Linked accounts can only be personal checking accounts
MySavingsDirect ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | 1 day | $500K | ? | |
| Pull | 1 day | $500K | ? |
How to Earn MySavingsDirect Rate
MySavingsDirect can be opened to U.S. citizens and Resident Aliens who are at least 18 years of age, have a valid Social Security number, and have a residential address in the United States.
- Open a MySavings account
- Input your info – Provide your name, address, phone, email and social security number
- Fund the account – Transfer funds electronically from an internal or external account
- Earn 4.35% APY no matter what balance
If you still have questions, please call Customer Service at 877-752-1919.
Why You Should Sign Up For This Account
- Save more with this leading rate among other banks
- No service fees or minimum balances to worry about
- Easily open your account online and follow the requirements
- Keep your current checking account and have it linked to the MySavings account
- Manage your high yield savings account anytime
Bottom Line
All in all, the current promotional rate from MySavingsDirect is a great choice for those looking to earn a higher APY rate than that of the national average, while still having the freedom of choosing how much you would like to deposit into your new account.
Interested in Bank Bonuses? See our favorite banks including U.S. Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on MySavingsDirect MySavings Account.
This “bank” offers “non transactional accounts”. By that they mean that you can’t link any accounts other than the original funding account and to change that requires you to go through a lengthy snail mail process. No other AHC transfers are allowed. They won’t send you a check unless you close your account and to top it off they ding you all accrued interest if you close your account before the end of the month – basically charging you an early withdrawal penalty. Obviously they have decided to make getting your own money back as difficult, inconvenient, and costly as possible. Customer service is rude and unhelpful. They should be ashamed.
Mysavingsdirect WILL NOT allow ACH withdrawls initiated from a verified external account.
One can ONLY withdraw funds to an verified external account by initiating it from one’s Mysavingsdirect account.
This was confirmed to me by the bank in writing after an externally initiated ACH transfer failed.
The limited linking is a deal breaker for me. I’ve already been significantly annoyed by BS like this from UFB.
Was pleased to sign on to my account today and see this 4.35% splash screen. While the rate in my account details still shows 3.90% I’m sure this will be updated very soon. The online divisions of Emigrant Bank have always been leaders of the ‘High Interest Savings’ pack. The only issue I have with DSD and MSD is the limited account linkability to financial institutions.
Thank you for providing the update!
APY is 2.40% today.
APY is now 1.10%.
Offering 1.25% as of 8/5/15. Not a bad rate. When you call, you get a live person. Website is Secure and you can choose to add extra security.
In the process of setting up an account now. This bank so far seems outstanding. They have the highest savings rate in the U.S for an online bank, and when you call, you get a live person!
Their interest rate has not dropped below 1 % so far. As of today, September 30, 2014, the APY is 1.05%.