Skip to main content
  • 866-285-1856
  • ATMS
  • CONTACT US
  • EN ESPAÑOL
    IN ENGLISH
  • Products
    • High Yield Savings
    • Direct Checking
    • Certificates of Deposit
    • Prepaid Benefits Debit Card
    Person in front of blue background

    High Yield Savings Account

    Grow your savings with a competitive rate.

    Learn more

    Certificate of Deposit

    Lock in a guaranteed interest rate.

    Learn More
  • Services
    • Online Banking
    • Mobile Banking
    • My Banking Direct Visa® Debit Card

    Mobile Banking

    Take your account with you wherever you go.

    Learn more
    Flagstar Bankers providing customer service

    My Banking Direct Visa® Debit Card

    Use this versatile card online, at checkout, and at the ATM.

    Learn More
  • Resources
    • NYCB $mart
    • Financial Calculators
    Person in front of blue background

    NYCB $MART

    Get money smart with personal finance videos and articles.

    Learn more
    Flagstar Bankers providing customer service

    Financial Calculators

    Do the math to compare rates and reach your financial goals.

    Learn More
  • Help
    • Frequently Asked Questions
    • Contact Us
    • Forms and Disclosures
    • Security Center
    • Reorder Personal Checks
    Person in front of blue background

    Frequently Asked Questions

    Get the information you need here.

    Learn more
    Flagstar Bankers providing customer service

    Order More Checks

    We make it easy to get your next set of checks.

    Learn More
Login
Contact Us
  • 866-285-1856
  • ATMS
  • CONTACT US
Change language
  • EN ESPAÑOL
    IN ENGLISH

Forgot your username or password?

Sign up for online banking

Forgot your username or password?

Sign up for online banking

Products Certificate of Deposit

Certificate of Deposit

Open a CD for a higher rate and peace of mind.

Rates as high as

5.15% APY1

OPEN ACCOUNT

Continue saved application

Lock in a competitive, guaranteed CD rate

Our certificate of deposit hits the sweet spot of savings, offering a higher rate than traditional savings accounts without the risk associated with investments. With My Banking Direct, you can enjoy peace of mind from an FDIC-insured account and a rate that won’t fluctuate, so you’ll know exactly how much your CD will earn. When your CD matures, you can withdraw your funds or roll them into a new CD to grow your savings even more.

Checkmark

Bank with confidence. My Banking Direct is a service of Flagstar Bank N.A.

Checkmark

FDIC-insured up to at least $250,000 per depositor

Checkmark

Just $2,500 to open an account

Checkmark

Locked-in interest rate

Checkmark

No fees if you hold your CD to maturity

Renew your Certificate of Deposit (CD) Today

And continue earning more!

 

 

RENEW CD

Current CD offerings

Earn

5.15% APY1

on a 5-month CD

OPEN ACCOUNT

$2,500.00 is minimum to open
and earn 5.15% APY

Ready to open an account? Here’s what you’ll need.

It takes just a few minutes to open an account.

 

Make sure you have the following information for each account holder:

  • Address
  • Social Security number or tax identification number
  • Driver’s license or other state-issued ID
GET STARTED

See how a higher rate can grow your savings.

 

FAQs

What is the relationship between My Banking Direct, Flagstar Bank N.A., and New York Community Bancorp (NYCB)?

My Banking Direct is a service of Flagstar Bank N.A., whose parent company is New York Community Bancorp, a long-established bank with roots dating back to 1859. We created My Banking Direct to offer higher savings rates by avoiding the overhead of local branches.

Are my deposit accounts FDIC-insured?

Yes! Every individual customer is insured by the FDIC to the full extent permissible by law. A depositor can have more than $250,000 at one insured bank and still be fully insured, provided the accounts meet certain requirements. Individual, joint, and retirement accounts are insured separately.

How do CDs work?

Certificates of deposit usually offer higher rates than regular savings accounts. When you open a CD, however, you do so for a specific amount of time, such as 5 months or 5 years. At the end of that period, your CD reaches maturity, and you can withdraw your funds or renew your CD to grow your savings even more.

 

CDs have a guaranteed fixed interest rate for the entire term, so you’ll know how much your CD will be worth at maturity. You can access your funds before the CD reaches maturity, but you will likely pay a fee to do so.

 

CDs are a low-risk way to save and an easy way to add balance to your financial portfolio. 

What happens at the end of my CD term?

We will notify you before your certificate of deposit reaches maturity to let you know your options. Then, you decide whether to withdraw your savings or renew your CD so they can continue growing.

 

To renew your CD visit the CD page on My Banking Direct and select Renew CD. You will need to enter your CD account number, zip code and, last four digits or your Social Security or customer access number.

 

You can also call our Customer Contact Center at 1-866-285-1856.

 

In order to renew your account, the certificate of deposit must be within the grace period without penalty or during the post-maturity period. If your CD doesn't automatically mature into a post-maturity account, it will mature and automatically renew on the current renewal date and same term stated on the pre-renewal notice you receive in the mail.

When I open a new account, how do I add money to it?

You have several options for funding your new account. You can transfer funds from another bank account, including an existing My Banking Direct account.

 

You can also mail a check to us. Please include your new account number on the check and send it to:

 

MyBankingDirect A service of Flagstar Bank, N.A.

P.O. Box 190

Hicksville, NY 11801

More ways to make your money work harder

Earn 5.00%APY***

when you open a High Yield Savings Account

Learn More

Open a Direct Checking Account.

Simplified checking with no monthly service fees

Learn More

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)
Learn More

1The 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.

 

***The 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. 
  • About Us
  • Contact Us
  • Privacy Policy
  • CA Resident Privacy Notice
  • Accessibility
  • Terms of Use
  • Sitemap
©2023 MyBankingDirect, a service of Flagstar Bank, N.A.
Member FDIC Equal Housing Lender