My Banking Direct, a division of New York Community Bank

Deposit Rates APY Vs.Others
Savings 1.25% 1.65% →
1-Year CD 1.50% 2.02% →
2-Year CD 1.60% 3.00% →
3-Year CD 1.70% 3.25% →
4-Year CD N.A. 3.30% →
5-Year CD N.A. 3.35% →

2022 Overview

General Online Bank Information

Money that you deposit is held by New York Community Bank. New York Community Bank is an FDIC insured institution founded in 1859. It has approximately $59.48 billion in assets.

Deposits FDIC Insured Yes
Insured Bank New York Community Bank
FDIC Certificate # 16022
Date Established 1859
Assets $59.48 billion
Loans $45.54 billion
Deposits $35.2 billion
Capital $7.52 billion

For a more detailed analysis of New York Community Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - June 25, 2022

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online Savings Account
1.25% $1 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
1-Year CD
1.50% $500 - Learn More
2 Year CD
1.60% $500 - Learn More
3-Year CD
1.70% $500 - Learn More


Climate Initiatives

My Banking Direct, a division of New York Community Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.

Customer Reviews for My Banking Direct, a division of New York Community Bank (20)

  • May 2, 2022 |

    Online Savings Rates

    Never have I ever been treated so poorly by a bank in my life. I'm 82.

  • April 27, 2022 |

    Online Savings Rates

    I've been depositing cash with online banks for a while and found the forums on this site and some of its competitors to be very helpful. What isn't being pointed out in relation to NYCB is that it isn't a strong bank and it is involved in a difficult merger with Flagstar bank in Detroit which is also not a strong bank. By all means, stay below FDIC insurance! What also isn't being pointed out here is that this is the same bank that previously branded their online bank as Amtrust Bank. Amtrust had great rates a decade or so ago, but those who chased rates were burned by such awful customer service that NYCB eventually had to close it down and rebrand to this. I would certainly avoid.

  • March 29, 2022 |

    Online Savings Rates

    They have a nice domain and brand, but that is about it. Not well enough organized to be an online bank serving customers remotely. Phone support is indifferent, to put it gently. Save yourself time and open with a place like Ally or Citizens Access and just wait because they eventually will all need to raise rates.

  • March 10, 2022 |

    Online Savings Rates

    it is terrible, nasty

  • February 27, 2022 |

    Online Savings Rates

    Tried to open an account, but these guys are morons. I'll get 0.70% with Bask or Colorado.

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