The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site. Advertising Disclosure

Valley Direct Online Savings

30-Second Review

Valley Direct, backed by the regional Valley Bank, is a strong option for customers looking to manage their money and grow their savings entirely online. Digital-only banking allows Valley Direct to offer customers extra-competitive interest rates and 24/7 access to accounts. The FDIC-insured bank provides hassle-free, high-yield savings accounts.

Valley Direct Logo Back to Top


  • High-Yield Savings: Valley Direct savings rates are 10x the national average, at 5.05% APY.
  • 12-Month CDs: With 4.50% APY over a 12-month fixed term, Valley Direct CDs are an ideal option for customers saving up for a big purchase.
  • Mobile Banking: Bank securely from virtually anywhere with Valley’s Online Banking and Mobile app, which offers convenient, secure access to accounts, and near-instant mobile check deposits.
  • No Fees: Valley Direct doesn’t charge maintenance fees, ever.

  • All pricing information is accurate as of January 2024. Please click 'VIEW RATES' at the bottom of this page for the most up-to-date information.

Pros and Cons


  • Secure Transactions: Special encryption technology works to keep all of your funds adequately secured.
  • E-statements: Save time and never lose track of files again with paperless, online statement management.
  • Flexible Savings: High-yield savings and CDs means that you can choose which terms are best for your financial goals, without missing out on interest.
  • Quick Set Up: Opening an account with Valley Direct takes less than 5 minutes.


  • Digital-First Support: Though quick and easy to navigate, customer service with Valley Direct is conducted entirely online, which may be a negative for some customers.
  • Savings Only: While Valley Direct offers great savings rates, the bank doesn’t support checking account options. If you’re interested in opening up a checking account, view our top-rated online checking accounts:

Final Thoughts

Savings accounts from Valley Direct are designed to meet your financial needs, whether you're helping build an emergency fund, planning a vacation, or looking ahead to college. Compare Valley Direct account options, terms, and savings rates here:

See banking information >

This hassle-free, modern approach to savings will appeal to consumers who don’t need access to a physical branch for their savings goals.

Frequently Asked Questions (FAQ)

Opening an online bank account is remarkably simple. In most cases, the process can be completed within 10 to 15 minutes. Streamlined digital applications, reduced paperwork, and quick verification make it a hassle-free experience, saving you time and effort.
Depositing and withdrawing money online is a quick, easy, and secure process. To deposit, you can transfer funds from another account, set up direct deposits, or use mobile check deposit features. For withdrawals, you can transfer funds to another account, use ATMs, or request electronic transfers.
Manage bills and payments with efficiency through your online bank account. Most online banking platforms offer bill pay services, allowing you to schedule and make payments to various recipients. You can set up recurring payments, view payment history, and receive alerts to ensure all your financial obligations are met conveniently and on time.
Many online banks partner with ATM networks providing access to physical access to ATMs nationwide, with some banks even reimbursing customers for out-of-network ATM fees.
Yes, online banking is generally safe so long as you select a reputable financial institution. Robust encryption, secure login procedures, and routine monitoring protect your financial information. Many also offer two-factor authentication for added security. Additionally, government regulations FDIC insurance provide further safeguards, making online banking a secure choice for managing your finances.