My Banking Direct vs. Neighbors Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | My Banking DirectHigh Yield Savings Account Jan 7, 2026 | Neighbors BankNeighbors Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 4.02% | 4.30% |
Est. Earnings | $5,000+$201 $10,000+$402 $25,000+$1,005 | $5,000+$215 $10,000+$430 $25,000+$1,075 |
Min Deposit | $500 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Balances up to $250,000 earn 4.30% APY. Anything above will earn 0.05% APY. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat Android AppIn-Person Access |
Comparison Analysis
Comparing My Banking Direct vs. Neighbors Bank
As of My Banking Direct offers an APY of 4.02% for its High Yield Savings Account, with a minimum balance of $1, compared to Neighbors Bank's 4.30% APY for its Neighbors Savings Account, with a minimum balance of $0.
Neighbors Bank pays $28 more than My Banking Direct on a $10,000 balance after one year. My Banking Direct pays $402, while Neighbors Bank pays $430 - an APY advantage for Neighbors Bank.
Why My Banking Direct?
- ✓No checking account or direct deposit required
- ✓Higher rated iOS app (4.7 vs 3.3)
- ✓Fast transfers via Zelle®
- ✓Available Nationwide
Why Neighbors Bank?
- ✓Higher potential APY (4.30% vs 4.02%) on all balances
- ✓Physical branch access (One location in Columbia, Missouri)
— Key Feature Differences —
Better Returns at $10,000
Neighbors BankNeighbors Bank's Neighbors Savings Account earns more on smaller deposits (approx. $430 vs $402/yr).
Better Returns at $25,000
Neighbors BankNeighbors Bank's Neighbors Savings Account pulls ahead with larger amounts (approx. $1075 vs $1005/yr).
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, Neighbors Bank's Neighbors Savings Account pays $28 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
Neighbors Bank offers a competitive Neighbors Savings Account with a 4.30% APY, making it the winner among the two banks. This account allows for balances up to $250,000 to earn the higher rate, while amounts above this threshold earn a reduced rate of 0.05%. In comparison, My Banking Direct provides a High Yield Savings Account with a 4.02% APY, requiring a minimum deposit of $500 but with no direct deposit or maintenance fees. Both accounts are online-only, with Neighbors Bank's offering being accessible to all except residents of Delaware.
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
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Top Market Contenders
My Banking Direct vs. Neighbors Bank Savings Calculator
You earn $28 more with Neighbors 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.
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
Neighbors Bank
Neighbors Savings Account
4.30% on first $250,000 and 0.05% thereafter.
Savings Breakdown
- Interest Earned+$430.00(4.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,430.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | My Banking Direct | Neighbors Bank |
|---|---|---|
| APY | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change | 4.30% Verified: 1/7/2026 ↘︎ 0.30%90d Change |
| Product Name | High Yield Savings Account | Neighbors Savings Account |
| Minimum Deposit | $500 | $0 |
| Min. Balance for APY | $1 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.3 | iOS3.3 Android4.4 |
| Zelle® Support | Available Uses Flagstar/NYCB parent infrastructure. | Not Supported |
| BBB Rating | F | A+ |
| Important Notes | - | Balances up to $250,000 earn 4.30% APY. Anything above will earn 0.05% APY. |
| Next Steps | Visit SiteVerify at My Banking Direct Non-sponsored link to official site | Visit SiteVerify at Neighbors Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | My Banking Direct | Neighbors Bank |
|---|---|---|
| High Yield Savings Account | Neighbors Savings Account | |
Current APY | 4.02% | 4.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.2 | -2.6 |
Days Since Change | 53 | 28 |
10-Month High | 4.45% | 4.75% |
10-Month Low | 4.02% | 4.30% |
Adjustments / Mo | 0.48 | 0.29 |
Volatility Score | 0.033 | 0.023 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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