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    Grow your savings with a competitive rate.

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    Lock in a guaranteed interest rate.

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My Banking Direct is an online financial service of Flagstar Bank, N.A., whose parent company is New York Community Bancorp (NYCB). Customer deposits are FDIC-insured.

5.00%APY1

when you open a High Yield Savings Account.

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Want to earn even more?

Save for what matters, faster, with CD rates as high as

5.15%APY.**

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Compare savings and CD rates.

Use this calculator to find the best way to make your savings work harder.

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Open a Direct Checking Account.

Simplified checking with no monthly service fees

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Why My Banking Direct?

My Banking Direct is a modern online bank backed by the strength and experience of one of the oldest banks in the US:

 

  • Competitive rates, numerous banking solutions, and a superb online experience
  • The security of FDIC-insurance up to at least $250,000 per depositor
  • The stability of a nationally chartered (registered) bank with $123.8 billion in assets, as of March 31, 2023
  • MBD is a service of Flagstar Bank, N.A, whose parent company is New York Community Bancorp (NYCB)
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Prepaid Visa® Benefits Card

Learn about your state-issued benefits card. We’re proud to serve your state.

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Online Banking

Bank anywhere, anytime with peace of mind.

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NYCB Smart

Get money smart with NYCB $MART.

Browse our library of videos and articles for personal finance tips and more.

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Mobile app

Bank whenever, wherever with our mobile app.*

Keep track of your savings and checking accounts on your schedule. My Banking Direct is a service of Flagstar Bank N.A., whose parent company is New York Community Bancorp (NYCB), so our customers use NYCB Mobile to tap into the convenience of mobile banking.

 

  • Instant balance
  • Fingerprint and FaceID security
  • Mobile alerts and notifications
  • Bill pay
  • Zelle®****
  • Mobile check deposit

 

Download the latest version of NYCB Mobile for banking that keeps up with you.

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Get it on Google Play
1The Annual Percentage Yield (APY) is accurate as of 9/29/2023 and is subject to change without notice. The My Banking Direct High Yield Savings is a tiered rate account. The minimum balance to open the account and obtain the APY is $500. If your daily balance is $50,000 or more, the APY is 5.00% and interest rate is 4.89%. If your daily balance is between $10,000.00 and $49,999.99, the APY is 5.00% and interest rate is 4.89%. If your daily balance is between $1.00 and $9,999.99, the APY is 5.00% and interest rate is 4.89%. My Banking Direct, a service of Flagstar Bank, N.A. reserve the right to change the rate at any time without notice. Fees could reduce earnings.  
**The Annual Percentage Yield (APY) is accurate as of 9/29/2023. The interest rate for the 5 month CD is 5.05%. The interest rate remains fixed until maturity. Fees could reduce earnings. A penalty may be imposed for early withdrawals. The minimum balance to open the account and obtain the APY is $2,500. My Banking Direct, a service of Flagstar Bank, N.A. reserves the right to cancel or modify this offer at any time without notice.

*Not all online features may be available through the mobile app. Standard messaging and data rates may apply.


Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android, Google Play, and the Google Play logo are trademarks of Google Inc.

****Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license. Transactions typically occur in minutes when the recipient’s email address or U.S. mobile number is already enrolled with Zelle. Must have a bank account in the U.S. to use Zelle. Data charges may apply. Check with your mobile phone carrier for details. In order to send payment requests or split payment requests to a U.S. mobile number, the mobile number must already be enrolled in Zelle.

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