Doral Bank Direct High Yield Savings Account

Doral Bank Direct is offering one of the highest savings account yields available today. The annual percentage yield is currently 3.50%.

The minimum opening deposit for the personal savings account is $1,000. You also have to maintain an average daily balance of $1,000 to receive the promo savings rate. The are no monthly fees on the account if you maintain an average daily balance of at least $250.

The 3.50% APY is only available for the first 3 months of account opening. After the 3 month period the online savings account will earn interest based on the balance and the prevailing interest rate offered by Doral Bank. The promo rate is only available to new money, money that isn’t currently deposited at Doral Bank.

The online savings account is insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 until December 31st 2009, then coverage reverts back to $100,000.

After your initial deposit, you can make online savings account deposits the following ways.

• Set up Direct Deposit with your employer
• Transfer money from a linked account
• Send money from an unlinked account via wire transfer. Doral Bank Direct’s ABA # is 026073082.
• Send your deposit by mail. Check (s) must be payable to the account holder. On the back of the check write “For Deposit Only” and your Doral Bank Direct account number. Mail the deposit to:

Doral Bank Direct
623 5th Avenue
13th Floor
New York, NY  10022

You can open a Savings Account online or by mail.

Doral Bank Direct High Yield Savings Account Applications