Online-Only Products

  • Open your account anytime
  • Simple and secure
  • Higher rates than the national average
  • Monitor growth and manage funds online

Higher rates through our online-only bank, MYSB Direct

Grow your savings at rates that consistently rank among the highest in the nation.*
Everyone seeks a financial edge. MYSB Direct offers you this opportunity online, allowing you to quickly open new CD or Money Market Accounts and take advantage of special rates.

These MYSB Direct products pass on the savings of reduced branch visits, e-statements, and streamlined online account opening to you in the form of higher interest rates.

MYSB Direct’s online-only products are conveniently accessible through M.Y. Safra Bank’s online and mobile banking platforms. You can pay bills, conduct transfers, monitor activity, review statements and more, anywhere or anytime.

All Rates Subject to Change Daily- Effective as of March 15, 2023

Online Personal Savings Interest Rates

MYSB Direct Certificates of Deposit Accounts

Account Term Interest Rate Annual Percentage Yield (APY)** Minimum Deposit
3 Month Online CD 1.49% 1.50% $500
6 Month Online CD 4.46% 4.56%% $500
7 Month Online CD 1.00% 1.00% $500
12 Month Online CD 4.75% 4.86%% $500
18 Month Online CD 4.65% 4.76% $500
24 Month Online CD 4.41% 4.51% $500
36 Month Online CD 4.41% 4.50% $500
48 Month Online CD 4.27% 4.36% $500
60 Month Online CD 4.31% 4.40% $500

MYSB Direct Online Money Market

(Call 1-855-697-2372 to open an online money market account)
Balance† Interest Rate Annual Percentage Yield (APY)**
$0 up to $4,999.99 0.00% 0.00%
$5,000 up to $1,000,000 1.992% 2.01%
* National Average obtained from
** For CDs, the APY assumes monthly compounding of interest and that funds will remain on deposit until maturity. For the MYSB Direct Online Money Market, the APY assumes monthly compounding of interest at the rate indicated for a full year.

For MYSB Direct Certificates of Deposit Accounts

Annual Percentage Yield (APY) is accurate as of 03/15/2023 and applies to US natural persons depositing new funds into consumer accounts only. Website rates are generally updated each week. APY may be changed at any time without prior notice. A penalty will be imposed for early withdrawal of principal. Fees may reduce earnings. APY assumes interest earned is kept in the CD for the full term.
For MYSB Direct Online Money Market Accounts

Interest rate applied to entire deposit based on balance met.
The Annual Percentage Yield (“APY”) for the MYSB Direct Online Money Market account is tiered and varies by balance. The following APYs disclosed are accurate as of March 15, 2023: The APY on balances up to and including $4,999.99 is 0.00%; and the APY on balances in excess of $4,999.99 is 1.00%. M.Y. Safra Bank, FSB may change the APY at any time without prior notice. To obtain the advertised APY, you must be a US natural person and reside in New York State, open your account online; deposit new funds; maintain a minimum balance of $5,000; enroll in online banking; and agree to exclusively receive periodic statements in electronic format. Minimum opening deposit is $5,000. Fees may reduce earnings. The MYSB Direct Online Money Market account is limited to one per household. M.Y. Safra Bank, FSB reserves the right to require not less than 7 days' notice in writing before each withdrawal from a MYSB Direct Money Market account. Please contact M.Y. Safra Bank, FSB for complete account terms and conditions and disclosures and any fees associated with the accounts listed above.
Mobile Banking
Access to your M.Y. Safra Bank accounts is as close as your mobile device. Our app keeps financial details at hand, allowing you to manage money anytime.
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