MySavingsDirect: Savings Account & Rates

By Aviel Fahl

Updated: 12/6/2025

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

Interest rates reported as APY

Savings Overview

MySavings Account

3.75% APY

Very StableNo rate changes in last 90 days

No Minimums Online Only

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

Rank #54 of 102 tracked.

Market Reality Check

This bank offers rates below the current top tier. The best rates we track are currently above 4.25% APY.

See Top Rates

National Avg: 0.40% (FDIC, 11/17/2025).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationMiami, Florida
Founded2001
Ratings & Trust
A+BBB Not BBB Accredited
Deposit InsuranceFDIC Insured(Cert: 57083)

Visit Official Website

Our Take on MySavingsDirect

Highlights

No minimum deposit required for MySavings Account.
No maintenance fees for account holders.
Current APY of 3.75% is competitive.
Account is online only, providing convenience.

Considerations

No direct deposit option available.
Only one account type offered.
Not BBB accredited despite A+ rating.
Limited customer service options due to online-only model.

Summary: MySavingsDirect offers an active MySavings Account with a competitive APY of 3.75%. There are no minimum deposit or maintenance fees. However, the account lacks a direct deposit option and only one account type is available. The bank holds an A+ rating from BBB but is not accredited. Overall, it provides a straightforward online banking experience.

Savings Account: In-Depth View

Savings Account Offered by MySavingsDirect

Feature	MySavings Account
APY	3.75%Verified: 12/6/2025
APY Trend	Very StableNo rate changes in last 90 days
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 Account3.75% APY

Initial Deposit

Recurring Deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$1,465.40(9.5%)
Total Contributions
$13,000
Initial Deposit
$1,000

Projected Balance

$15,465.40

Effective APY

3.75%

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 9 Months

Metric	MySavings Account
Latest APY	3.75%
Trend	Sideways
Slope (bps/mo)	-3.2
Rate Changes / Mo	0.11
Days Since Last Change	228
High (-9m)	4.10%
Low (-9m)	3.75%
Draw-down	-8.5%
Volatility (CV)	0.035

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 279-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	3.75%Verified: 12/6/2025	-
APY Trend	Very StableNo rate changes in last 90 days	-
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	-	-

Alternatives to MySavingsDirect

Banks with Higher/Similar Savings APY

For a top list of the highest savings rates, see all HYSA top rates

Axos Bank

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