BankDirect Online Savings Account Rates

BankDirect is a fast growing bank that operates only on the Internet and has been in operation for a little over ten years.  They have increased significantly in popularity every year and have always provided convenient and competitive service to their customers.  They offer account to anyone residing with the 50 states of the US.

Of course anyone applying for an account would have to provide the same identification as opening an account in a physical branch, however the location is not an issue since your branch is online.  Because there is no cost to keep a physical location up and running the BankDirect online savings account rates are able to remain competitive and attractive to all prospective customers.

The current annual percentage rate for a BankDirect online savings account is a 0.10% APY.  There is a minimum opening deposit of $100.00 in order to get the account open and running.  One way that BankDirect helps you to earn as much interest as possible is by compounding your interest daily.

This means that your balance is judged every day and credit for the interest, then the following day your new balance is determining the interest.  This can allow you much more in gains and is not offered by many banks.

Further helping you to earn money and not spend even more is the fact that there are no monthly maintenance fees for this account.  You also get two free withdrawals every month.  Any withdrawals between three and the maximum of six in a month are charged a $2.00 fee.

You can get an ATM free of charge, but these are only issued at your request.  While you will be charged fees for using an ATM, you can get four of these fees reversed every month, helping you to have access to your account at no cost.

This is a great account for those that want to keep a high balance, and only access that amount for emergencies or unexpected payments.  You can have access to your money when you need it, but BankDirect Online Savings Account Rates will benefit you more to leave it alone and let it earn interest for you.