Ivy Bank vs. My Banking Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Ivy BankHigh-Yield Savings Account Jan 7, 2026 | My Banking DirectHigh Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 0.05% - 4.10% | 4.02% |
Est. Earnings | $5,000+$205 $10,000+$410 $25,000+$1,025 | $5,000+$201 $10,000+$402 $25,000+$1,005 |
Min Deposit | $2,500 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS App | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Ivy Bank vs. My Banking Direct
As of Ivy Bank offers an APY of 4.10% for its High-Yield Savings Account, with a minimum balance of $2,500, compared to My Banking Direct's 4.02% APY for its High Yield Savings Account, with a minimum balance of $1.
Ivy Bank pays $8 more than My Banking Direct on a $10,000 balance after one year. Ivy Bank pays $410, while My Banking Direct pays $402 - an APY advantage for Ivy Bank.
Why Ivy Bank?
No distinct advantages found vs My Banking Direct.
Why My Banking Direct?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.3 vs 3.5)
- ✓Fast transfers via Zelle®
- ✓Available Nationwide
— Key Feature Differences —
Best for Simplicity
My Banking DirectMy Banking Direct's High Yield Savings Account offers 4.02% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $8 more interest on a $10,000 balance than My Banking Direct's High Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Ivy Bank offers a High-Yield Savings Account with a competitive APY of 4.10%, requiring a minimum deposit of $2,500 and is available only to residents of California and U.S. Territories (excluding District of Columbia). In comparison, My Banking Direct features a High Yield Savings Account with an APY of 4.02%, which is accessible with a lower minimum deposit of $500 and a minimum balance of just $1. Both accounts are online-only and have no maintenance fees or direct deposit requirements, making them attractive options for savers. While Ivy Bank's APY is slightly higher, the difference is negligible.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Ivy Bank vs. My Banking Direct Savings Calculator
You earn $8 more with Ivy Bank than My Banking Direct on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$410.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,410.00
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Ivy Bank | My Banking Direct |
|---|---|---|
| APY | 4.10% Range: 0.05% - 4.10% Verified: 1/7/2026 - | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change |
| Product Name | High-Yield Savings Account | High Yield Savings Account |
| Minimum Deposit | $2,500 | $500 |
| Min. Balance for APY | $2,500 | $1 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android3.5 | iOS4.7 Android4.3 |
| Zelle® Support | Not Supported | Available Uses Flagstar/NYCB parent infrastructure. |
| BBB Rating | A- | F |
| Next Steps | Visit SiteVerify at Ivy Bank Non-sponsored link to official site | Visit SiteVerify at My Banking Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ivy Bank | My Banking Direct |
|---|---|---|
| High-Yield Savings Account | High Yield Savings Account | |
Current APY | 4.10% | 4.02% |
Trend | Stable | Stable |
Velocity (bps/mo) | -11.9 | -0.5 |
Days Since Change | 22 | 53 |
2-Month High | 4.25% | 4.11% |
2-Month Low | 4.10% | 4.02% |
Adjustments / Mo | 0.55 | 0.55 |
Volatility Score | 0.018 | 0.003 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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