My Banking Direct vs. TD 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 | TD BankTD Signature Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.02% | 0.05% - 2.60% |
Est. Earnings | $5,000+$201 $10,000+$402 $25,000+$1,005 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $500 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | This is a tiered savings account where rates may vary on location and whether you're eligible for the Bump Rate. 2.60% is available when you link an eligible TD account and have a minimum balance of $100,000. Otherwise 0.05% is the maximum APY. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking Bundle |
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 My Banking Direct vs. TD 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 TD Bank's 2.60% APY for its TD Signature Savings account, with a minimum balance of $100,000.
My Banking Direct pays $397 more than TD Bank on a $10,000 balance after one year. My Banking Direct pays $402, while TD Bank pays $5 (with an effective APY of 0.05%) - an APY advantage for My Banking Direct.
Why My Banking Direct?
- ✓Higher potential APY (4.02% vs 2.60%) on all balances
- ✓No checking account or direct deposit required
Why TD Bank?
- ✓Physical branch access (Multiple branches in CT, DE, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA, DC)
— 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 $5/yr).
Better Returns at $25,000
My Banking DirectMy Banking Direct's High Yield Savings Account pulls ahead with larger amounts (approx. $1005 vs $13/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, My Banking Direct's High Yield Savings Account pays $397 more interest on a $10,000 balance than TD Bank's TD Signature Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
My Banking Direct offers a High Yield Savings Account with a competitive APY of 4.02%, making it the clear winner in this comparison. This account requires a minimum deposit of $500 and has no maintenance fees or direct deposit requirements, emphasizing simplicity and accessibility. In contrast, TD Bank's Signature Savings account provides a lower APY of 2.60%, but this rate is contingent upon linking an eligible TD account and maintaining a minimum balance of $100,000, with lower rates available for smaller balances. Overall, My Banking Direct's offering stands out for its higher yield and straightforward terms.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
My Banking Direct vs. TD Bank Savings Calculator
You earn $397 more with My Banking Direct than TD Bank 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
TD Bank
TD Signature Savings
Higher APY requires $100,000
Savings Breakdown
- Interest Earned+$5.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,005.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | My Banking Direct | TD Bank |
|---|---|---|
| APY | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change | 2.60% Range: 0.05% - 2.60% Verified: 1/7/2026 ↘︎ 0.15%90d Change |
| Product Name | High Yield Savings Account | TD Signature Savings |
| Minimum Deposit | $500 | $0 |
| Min. Balance for APY | $1 | $100,000 |
| Monthly Fee | $0 | $10. Waived under some circumstances. |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.7 Android4.3 | iOS4.8 Android4.1 |
| Zelle® Support | Available Uses Flagstar/NYCB parent infrastructure. | Available Limit: $1,000/dayLimits increase for established or Private Client accounts. |
| BBB Rating | F | Not Rated |
| Important Notes | - | This is a tiered savings account where rates may vary on location and whether you're eligible for the Bump Rate. 2.60% is available when you link an eligible TD account and have a minimum balance of $100,000. Otherwise 0.05% is the maximum APY. |
| Next Steps | Visit SiteVerify at My Banking Direct Non-sponsored link to official site | Visit SiteVerify at TD Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | My Banking Direct | TD Bank |
|---|---|---|
| High Yield Savings Account | TD Signature Savings | |
Current APY | 4.02% | 2.60% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.0 | -8.2 |
Days Since Change | 53 | 19 |
11-Month High | 4.45% | 3.70% |
11-Month Low | 4.02% | 2.60% |
Adjustments / Mo | 0.44 | 0.44 |
Volatility Score | 0.034 | 0.092 |
How to read these metrics(Click to expand)
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