MutualOne Bank vs. My Banking Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | MutualOne BankMo Premium Savings Jan 7, 2026 | My Banking DirectHigh Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 4.07% | 4.02% |
Est. Earnings | $5,000+$0 $10,000+$0 $25,000+$1,018 | $5,000+$201 $10,000+$402 $25,000+$1,005 |
Min Deposit | $20,000 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | 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 MutualOne Bank vs. My Banking Direct
As of MutualOne Bank offers an APY of 4.07% for its Mo Premium Savings account, with a minimum balance of $20,000, compared to My Banking Direct's 4.02% APY for its High Yield Savings Account, with a minimum balance of $1.
MutualOne Bank pays $5 more than My Banking Direct on a $10,000 balance after one year. MutualOne Bank pays $407, while My Banking Direct pays $402 - an APY advantage for MutualOne Bank.
In addition, MutualOne Bank also offers 0.40% APY for the Online Savings account, with a minimum balance of 0.
Why MutualOne Bank?
- ✓Physical branch access (Full-service banking offices in Framingham, MA, and Natick, MA)
Why My Banking Direct?
No distinct advantages found vs MutualOne Bank.
— Key Feature Differences —
Better Returns at $10,000
My Banking DirectMy Banking Direct's High Yield Savings Account earns more on smaller deposits (approx. $402 vs $0/yr).
Best Mobile App Experience
MutualOne BankMutualOne Bank offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.4 (vs. 4.3)
Shared Benefits
Over a 1-year period, MutualOne Bank's Mo Premium Savings pays $5 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
MutualOne Bank offers a competitive Mo Premium Savings account with an APY of 4.07%, requiring a minimum deposit of $20,000. This account does not have a maintenance fee and is available for anyone meeting the deposit requirement. In comparison, My Banking Direct provides a High Yield Savings Account with a slightly lower APY of 4.02%, but it has a much lower minimum deposit requirement of $500 and a minimum balance of just $1, making it accessible for those with smaller amounts to invest. Both banks do not require direct deposit for their savings accounts.
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
MutualOne Bank vs. My Banking Direct Savings Calculator
You earn $10 more with MutualOne Bank than My Banking Direct on a $20,000 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.
MutualOne Bank
Mo Premium Savings
Savings Breakdown
- Interest Earned+$814.00(3.9%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,814.00
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$804.00(3.9%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,804.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | MutualOne Bank | My Banking Direct |
|---|---|---|
| APY | 4.07% Verified: 1/7/2026 Stable (90d) | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change |
| Product Name | Mo Premium Savings | High Yield Savings Account |
| Minimum Deposit | $20,000 | $500 |
| Min. Balance for APY | $20,000 | $1 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.4 | iOS4.7 Android4.3 |
| Zelle® Support | Available Verified via website and app descriptions. | Available Uses Flagstar/NYCB parent infrastructure. |
| BBB Rating | A+ | F |
| Next Steps | Visit SiteVerify at MutualOne 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 | MutualOne Bank | My Banking Direct | |
|---|---|---|---|
| Online Savings | Mo Premium Savings | High Yield Savings Account | |
Current APY | 0.40% | 4.07% | 4.02% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -0.0 | -8.9 |
Days Since Change | 114 | 114 | 53 |
4-Month High | 0.40% | 4.07% | 4.30% |
4-Month Low | 0.40% | 4.07% | 4.02% |
Adjustments / Mo | 0.00 | 0.00 | 0.77 |
Volatility Score | 0.000 | 0.000 | 0.025 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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