MySavingsDirect

Last Updated: 7/15/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

Quick Views

MySavings Account: 3.75% APY(Rank 62 out of 77 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.38% (as of 6/16/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Affiliation: MySavingsDirect is a division of Emigrant Bank

BBB Rating: Not Rated

App Store Rating: N/A

Google Play Rating: N/A

Website: Visit MySavingsDirect

Our Take on MySavingsDirect

Highlights

Current APY of 3.75% is competitive for high-yield savings.
No minimum deposit or balance requirements.
No monthly maintenance fees.
Online-only account offers convenience.

Considerations

BBB rating is Not Rated, indicating potential trust issues.
No branch access due to being online-only.
No direct deposit option available.
APY has remained unchanged at 3.75% over the past 30 days.

Summary: MySavingsDirect offers a high-yield savings account with a competitive APY of 3.75%, no minimum deposit, and no maintenance fees. However, it lacks a BBB rating, has no branch access, and does not provide a direct deposit option. The APY has remained stable over the past month, which may appeal to savers looking for consistency. Overall, it is a solid choice for those comfortable with online banking.

Savings Account

Savings Account Offered by MySavingsDirect

Feature	MySavings Account
APY	3.75% (as of 7/15/2025)
APY Trend	Stable for the last month
Minimum Deposit	$0
Minimum Balance for APY	$0
FDIC-insured	Yes
Online Only	Yes
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Daily
Maintenance Fee	$0
Eligibility	United States
No deposit agreement summary available for this bank.

Calculate Savings for MySavingsDirect

All calculations are based on APY.

Savings Product:

MySavings Account (APY: 3.75%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $4 (3.85%)
Total contributions: $0 (0.00%)
Initial deposit: $100 (96.15%)

Your total balance

$104.00

Effective APY: 3.75% (based on your deposit and contributions)

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

MySavingsDirect Savings Rates Over Time

Historical APY Insights

Metric	MySavings Account
Latest APY	3.75 %
Trend	Falling
Slope (bps/mo)	-10.9
Rate Changes / Mo	0.22
Days Since Last Change	84
High (-4 m)	4.10 %
Low (-4 m)	3.75 %
Draw-down from High	-8.5 %
Volatility (CV)	0.044

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 4 months (regression slope).
Slope (bps/mo): Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo: Typical number of APY moves per month.
Days Since Last Change: Recency of the latest APY adjustment.
High (-4 m): Highest APY in the last 136 days.
Low (-4 m): Lowest APY in the last 136 days.
Draw-down from High: How far today sits below the 4-month peak.
Volatility (CV): Coefficient of variation = stdev ÷ mean.

Why Track Savings-Account APYs?

See how quickly a bank reacts to Fed moves or competition.
Gauge “twitchiness” - frequent moves can annoy savers.
Spot if you're buying near a peak (draw-down) or riding a rise.
Slope (bps/mo) shows speed of change.
Volatility (CV) scales jumps by average level.

Compare MySavingsDirect's Savings Account

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Feature	MySavingsDirect	Select a bank...
Product	MySavings Account	N/A
APY	3.75% (as of 7/15/2025)	N/A
Bundled Account	No	N/A
FDIC-insured	Yes	N/A
Online Only	Yes	N/A
Compound Frequency	Daily	N/A
Minimum Deposit	$0	N/A
Minimum Balance for APY	$0	N/A
Maintenance Fee	$0	N/A
Direct Deposit Required	No	N/A