MySavingsDirect: Savings Account & Rates

By Aviel Fahl

Updated: 1/21/2026

Mission: Banksparency aims to make MySavingsDirect's savings account transparent and comparable to the market.

Interest rates reported as APY

Savings Overview

MySavings Account

3.35% APY

Rate Adjusted

-0.40%

Since 90 days ago

No Minimums Online Only

Min. Deposit	$0
Min. Balance	$0
Maintenance Fee	$0

Rank #68 of 99 tracked.

Market Reality Check

This bank offers rates below the current top tier. The best rates we track are currently above 4.20% APY.

See Top Rates

National Avg: 0.39% (FDIC, 12/15/2025).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationMiami, Florida
Founded2001
AffiliationMySavingsDirect is a division of Emigrant Bank
Ratings & Trust
A+BBB Not BBB Accredited
Zelle® SupportNo Support
Standard ACH or Wire transfers only.
Deposit InsuranceFDIC Insured(Cert: 57083)

Visit Official Website

Featured Offers

Axos ONE - High Yield Savings & Checking

Over 95,000 fee-free ATMs
Get paid up to 2 days early with Direct Deposit
One convenient app for spending & saving

FDIC Insured

Savings4.31%APY

Checking0.51%APY

Go to Axos Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$0
Min. Balance in Savings Account	$0
How to qualify for APY	OPTION ADirect Deposit $1,500+ AND Maintain $1,500+ avg daily checking balance. OR OPTION BDeposit $5,000+ total/mo AND Maintain $5,000+ avg daily checking balance.
Mobile Ratings	iOS:4.7 Android:4.5

The 4.31% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.

EASY TRANSFERS, LOW MINIMUMS

SponsoredVerified Jan 21, 2026

FDIC Insured

Quontic High Yield Savings

Apply in 3 minutes or less
No monthly service fees
Transfer with Zelle, Apple Pay, G-Pay, and more

FDIC Insured

Savings3.50%APY

Go to Quontic Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$0
Mobile Ratings	iOS:4.8 Android:4.9

PREMIUM ACCOUNT, GENEROUS BONUS

SponsoredVerified Jan 21, 2026

FDIC Insured

CIT Bank - Platinum Savings

Competitive APY - with a balance of $5,000+
Earn up to $300 bonus with qualifying deposit
Highly rated mobile apps

FDIC Insured

Savings3.75%APY

Up to$300Bonus

Go to CIT Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$5,000
Mobile Ratings	iOS:4.8 Android:4.6

This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%.

Our Take on MySavingsDirect

The Good

Decent APY of 3.35%
No minimum deposit or balance requirements
No monthly maintenance fees

Considerations

No physical branch access (online only)
Yield is below current market leaders

Verdict

MySavingsDirect offers the MySavings Account with a competitive APY of 3.35%. This account has no minimum deposit or balance requirements and does not charge monthly maintenance fees, making it an accessible option for savers. There are no direct deposit requirements, and the account does not have any promotional or tiered features. However, it is important to note that MySavingsDirect operates online only, so there is no physical branch access, and the yield is below that of current market leaders.

Savings Account: In-Depth View

Savings Account Offered by MySavingsDirect

Feature	MySavings Account
APY	3.35%Verified: 1/21/2026
APY Trend	Rate Adjusted -0.40% Since 90 days ago
Min. Deposit	$0
Min. Balance	$0
Monthly Fee	$0
Direct Deposit	None
Checking Bundle	No
Branch Access	None
Compounding	Daily
FDIC Insured	Yes
Eligibility	United States
Next Steps	-

Calculate Savings for MySavingsDirect

All calculations are based on APY.

Selected Product

MySavings Account3.35% APY

Initial Deposit

Recurring Deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$1,302.40(8.5%)
Total Contributions
$13,000
Initial Deposit
$1,000

Projected Balance

$15,302.40

Effective APY

3.35%

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

MySavingsDirect Savings Rates Over Time

Historical APY Insights

Last 11 Months

Metric	MySavings Account
Latest APY	3.35%
Trend	Sideways
Slope (bps/mo)	-4.8
Rate Changes / Mo	0.18
Days Since Last Change	36
High (-11m)	4.10%
Low (-11m)	3.35%
Draw-down	-18.3%
Volatility (CV)	0.054

How to read these metrics▼

Trends & Velocity

Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
Slope (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
Rate Changes / Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

High/Low: The absolute ceiling and floor of the rate during the 325-day window.
Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.

Compare with MySavingsDirect

Feature	Current View MySavingsDirect	Empty Slot
Product	MySavings Account	-
APY	3.35%Verified: 1/21/2026	-
APY Trend	Rate Adjusted -0.40% Since 90 days ago	-
Min. Deposit	$0	-
Monthly Fee	$0	-
Direct Deposit	No	-
Checking Bundle	No	-
Branch Access	None	-
Eligibility	United States	-
Compounding	Daily	-
FDIC Insured	Yes	-
Next Steps	-	-