Take advantage of an attractive 4.10% APY rate with a new MySavingsDirect Online Savings Account.
Update 12/23/24: The rate has decreased to 4.10% APY from 4.35%.
MySavingsDirect Online Savings
Here is your opportunity to earn a competitive on your funds. Open a new account and get started today!
- Rate Offer: 4.10% APY Rate
- Availability: Nationwide
- Credit Inquiry: Hard Pull or Soft Pull?
- Credit Funding: Unknown
- Opening Deposit Requirement: Any
- Monthly Service Fee: None
- Early Termination Fees: None listed
Application Link
MySavingsDirect Online Savings Account: Consider opening an account to receive a competitive interest rate on your funds. Apply today!
Account Rates
| Balance | %APY |
| Any Amount | 4.10%APY |
Account Benefits
- No Fees. No Minimums.
- Open your high interest savings account online. It’s quick and easy.
- No need to change your checking account. Your MySavings Account will be linked to your current checking account.
- Up late? Access your high yield savings account 24/7 at MySavingsDirect.com.
Notes:
- ACH withdrawals initiated from other banks are not allowed. As stated in the FAQs, “The personal checking account that you use to make your initial deposit becomes your linked (or “External Funding”) account. You can log on to our site to access your account information and transfer funds electronically between your MySavings Account and your linked account.”
- Good news is that ACH transfers are fast, with customers reporting ACH transfers that only take one business day to complete, even though the FAQs state a “2 to 4 business day” window. Unfortunately, there is a five business day hold time for ACH deposits.
- Other important ACH features
- No ACH withdrawals initiated by another bank; external ACH deposits are allowed.
- Maximum of 2 linked accounts which includes the initial funding account.
- Linked accounts can only be personal checking accounts.
- No sooner than 60 days after the establishment of your MSD savings account, a second external account can be added.
- Establishing second linked account requires mailing in a voided check and a completed Account Verification Authorization Form.
- Maximum amount that can be transferred via ACH (in/out) is $500k.
Author’s Verdict
If you’re looking for a savings account with no minimum balance requirement, check out the MySavingsDirect Online Savings Account. Definitely better accounts out there but this account still offers a competitive rate compared to your brick and mortar banks/credit unions. Let us know if you have any info regarding on whether this account triggers a hard/soft pull.
In addition to the current rate from MySavingsDirect, you can also take advantage of a range of great promotions from banks such as HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.
Be sure to check back on BankDealGuy for more bank rates!
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