Fed Funds: 5.33%30Y FRM: 6.84%10Y Treasury: 4.42%Avg CC APR: 21.47%SOFR: 5.31%Prime Rate: 8.50%BTC: —
Fed Funds: 5.33%30Y FRM: 6.84%10Y Treasury: 4.42%Avg CC APR: 21.47%SOFR: 5.31%Prime Rate: 8.50%BTC: —
Hidden Gem

My Banking Direct Review

My Banking Direct pays 5.05% APY on this savings product as of June 2026. Your deposits are FDIC-insured up to $250,000.

APY
5.05%
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Current APY
5.05%
Minimum deposit
$500
Monthly fee
None
Insurance
FDIC-insured
Product type
SAVINGS

Overview

My Banking Direct offers a high-yield savings account currently paying 5.05% APY. Lesser-known NY-based bank..

Deposits at My Banking Direct are insured by the FDIC (or NCUA for credit unions) up to $250,000 per depositor, per ownership category. This is the same federal protection offered by traditional brick-and-mortar banks.

Compare My Banking Direct against other top picks below to make sure you're getting the best yield for your situation as of June 2026.

Pros

  • +Competitive 5.05% APY
  • +Federally insured deposits
  • +No monthly maintenance fee

Cons

  • −Requires $500 minimum deposit
  • −APY is variable and not guaranteed
  • −Online-only experience

How it compares

BrioDirect
APY
5.30%
Varo Bank
APY
5.00%
NASA Federal Credit Union
APY (CD)
5.30%

How we review

We review savings & cds using verified rate data and lender disclosures. Rankings prioritize rate, fees, terms, and institutional safety — not affiliate payout. Read the full methodology.