-
Financial Rates:
5.0
-
Customer Service:
4.0
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- No monthly maintenance fees
- Low required amounts to open accounts
- Accounts offer competitive interest rates
- Interest rates are not tiered
Cons:
- Limited accounts offered
- Must link to an external bank account
- Can only make electronic transfers
- Must be a customer to open CDs
-
Financial Rates:
5.0
-
Customer Service:
3.0
-
Website Experience:
5.0
-
Bank Fees:
3.0
Pros:
- Competitive rates on all accounts
- Interest rates not tiered
- Accounts entirely online
- Check writing for MMA and checking
Cons:
- Minimum opening deposit high
- Money market and checking have fees
- Limited personal deposit accounts
- No business accounts available
There are no monthly maintenance fees for the MySavingsDirect savings account. The CDs do not have monthly maintenance fees. However, there is a fee if you withdraw money before the CD reaches maturity. MySavingsDirect accounts are free.
The MySavingsDirect savings account does not have a required amount to open. You can choose the amount you invest when you open the account. The MySavingsDirect CDs do have a required amount to open. Each of the CD terms requires $1,000 to open.
The interest rates for all MySavingsDirect accounts are competitive. The rates are competitive with other online-only accounts. They are much higher than typical brick and mortar bank rates.
MySavingsDirect account interest rates are not tiered. Any balance in the account earns the most competitive interest rate. The interest rates are competitive with other online accounts.
MySavingsDirect only offers a few accounts. The accounts are a personal deposit savings account and CDs. The CD terms range from 60 months to 120 months. They also offer one 30-month CD term. They do not offer a checking account or money market account. MySavingsDirect does not offer business accounts.
To fund your MySavingsDirect accounts, you must link to an external bank account. MySavingsDirect accounts must link to an existing checking account. Once the accounts are linked, you can transfer money electronically between accounts.
The only way to make deposits or withdrawals are through electronic transfers. Your initial deposit to open the account can be made by mailing in a check. After the initial deposit, all other deposits or withdrawals must be through electronic transfers. Transfer money between your MySavingsDirect account and the linked external bank account.
To open a CD with MySavingsDirect, you must first open a savings account. Once you have a savings account through MySavingsDirect, you may open a CD. The CD terms range from 60 to 120 months. The most competitive CD rate is the six-month CD. MySavingsDirect offers a three-month term, but the rate is lower.
Every My eBanc account offers competitive interest rates. The rates are much higher than typical brick and mortar bank rates. The accounts are personal deposit checking and money market account and CDs. My eBanc offers regular CDs, jumbo, and one fixed rate CD.
The account interest rates at My eBanc are not tiered. There is not a required balance to earn the most competitive interest rate. Any amount in the account earns the competitive interest rate. However, the money market and checking account do have a monthly fee if the balance falls under $5,000.
My eBanc accounts are entirely online. Everything for your account is done through the website or mobile app. Make deposits through electronic transfers or by mailing in a check. There is only one branch location in Florida.
The My eBanc money market accounts and checking accounts allow you to write checks and have a debit card. The money market account only allows for six withdrawals each month. The checking account has unlimited check writing options with no charge. Your first 50 checks are free.
The minimum deposit required to open My eBanc accounts is high. The checking, money market, and regular CDs all require $5,000 to open. The jumbo CDs require $100,000. The Flex Time Deposit CD requires $10,000 to open.
The money market and checking account have a monthly fee. The fee for both accounts is $15 monthly. Waive both of those fees if you keep an average daily balance of more than $5,000. You still earn interest on amounts under $5,000, but your earnings will be cut into by the fee.
There are limited accounts offered through My eBanc. Only personal deposit accounts are available. My eBanc offers one checking account and one money market account. There are five different term lengths of CDs. Those same terms are available in jumbo CDs. One fixed rate CD is offered.
My eBanc does not offer any business accounts. Only personal deposit accounts are available. Personal deposit checking and money market accounts and some CDs are offered.
Sponsored Offers
From Our Partners
| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.73% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.65% |
| Min to Open | $500 |
| Min to Earn APY | $500 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.80% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: It only takes about 5 minutes to open a fee-free account. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.40% |
|---|---|
| Rate | 4.30% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.46% |
|---|---|
| Rate | 4.46% |
| Min to Open | $500 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: $200 Bonus w/ Tiered Savings Account and Qualifying Activities |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $100 |
| Min to Earn APY | $5,000 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: CIT Bank, a division of First Citizens, 125+ years of experience. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.30% |
|---|---|
| Rate | 4.21% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| MMA (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | Yes |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.10% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $1,000 |
| Min to Earn APY | $1,000 |
| Monthly Fee | $5.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.75% |
| Min to Open | $10 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| FDIC insured at program banks†. Promoted offer: var. APY a/o 11/8/24. New customers only. Betterment LLC, not a bank |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
For details on our best products and how we chose them click here.
Rates proudly provided by 
For Bankrate's privacy policy, click here.
1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.