My Banking Direct vs. Valley Direct
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 | Valley DirectHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 4.02% | 3.40% - 4.00% |
Est. Earnings | $5,000+$201 $10,000+$402 $25,000+$1,005 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $500 | $1,000 |
Snapshot view. Rates subject to change. | ||
Terms | - | Promo rate for new customers. 3.40% APY applies to existing customers. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® 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 My Banking Direct vs. Valley Direct
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 Valley Direct's 4.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
My Banking Direct pays $2 more than Valley Direct on a $10,000 balance after one year. My Banking Direct pays $402, while Valley Direct pays $400 - an APY advantage for My Banking Direct.
Why My Banking Direct?
- ✓Available to New & Existing Customers
Why Valley Direct?
No distinct advantages found vs My Banking Direct.
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $2 more interest on a $10,000 balance than Valley Direct's High-Yield Savings Account.
*This comparison accounts for Valley Direct's introductory promotional rate, yet My Banking Direct's standard rate still yields a higher 1-year return.
Executive Summary as of
My Banking Direct offers a High Yield Savings Account with a competitive APY of 4.02%, making it the leading option compared to Valley Direct, which provides a High-Yield Savings Account at 4.00%. While both accounts have no maintenance fees and do not require direct deposit, My Banking Direct has a lower minimum deposit of $500 compared to Valley Direct's $1,000. Additionally, the Valley Direct account's advertised rate is limited to new customers, while existing customers receive a lower rate of 3.40%. Both accounts are online-only, with My Banking Direct exclusively so.
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
My Banking Direct vs. Valley Direct Savings Calculator
You earn $2 more with My Banking Direct than Valley 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
Valley Direct
High-Yield Savings Account
Promo Rate: 4.00% for 12 months, then 3.40%.
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | My Banking Direct | Valley Direct |
|---|---|---|
| APY | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change | 4.00% Range: 3.40% - 4.00% Verified: 1/7/2026 ↘︎ 0.10%90d Change |
| Product Name | High Yield Savings Account | High-Yield Savings Account |
| Minimum Deposit | $500 | $1,000 |
| Min. Balance for APY | $1 | $0.01 |
| 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 | iOS4.8 Android4.6 |
| Zelle® Support | Available Uses Flagstar/NYCB parent infrastructure. | Available Allows Zelle directly on HYSA. |
| BBB Rating | F | A+ |
| Important Notes | - | Promo rate for new customers. 3.40% APY applies to existing customers. |
| Next Steps | Visit SiteVerify at My Banking Direct Non-sponsored link to official site | Visit SiteVerify at Valley Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | My Banking Direct | Valley Direct |
|---|---|---|
| High Yield Savings Account | High-Yield Savings Account | |
Current APY | 4.02% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.9 | 0.6 |
Days Since Change | 53 | 26 |
12-Month High | 4.55% | 4.40% |
12-Month Low | 4.02% | 3.75% |
Adjustments / Mo | 0.49 | 0.66 |
Volatility Score | 0.035 | 0.046 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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