Searching for the most rewarding high-yield accounts available? You've likely encountered a financial institution on your path that isn't as widely recognized as major banks such as Chase and Capital One: Valley Direct. Offering impressive returns for its high-yield savings account and certificates of deposit, this is a superior choice, probably providing better interest rates than traditional financial institutions.
TL;DR
- Valley Direct offers high APYs on savings accounts and CDs, exceeding traditional banks.
- Savings accounts require $1,000 for new clients, offering up to 4.30% APY.
- CDs have 6 and 12-month terms with APYs up to 4.20%, minimum $500 deposit.
- Valley Direct is online-only, with limited products; parent Valley National Bank offers more services.
Established in 1927, and having undergone numerous transformations and name adjustments over the years, Valley National Bank currently manages hundreds of locations nationwide and possesses more than $60 billion in assets. Its online division, known as Valley Direct, focuses on converting your inactive savings into substantial interest income.
Here’s what you need to know about Valley Direct.
Rates are current as of Aug. 27, 2025 and are subject to change.
Valley Direct Bank: A Quick Look
Valley Direct
| Savings accounts | Open with as little as $1 |
| CD rates | Earn up to 4.20% annual percentage yield (APY) |
- Year Founded: 1927
- Company Headquarters: Morristown, NJ
- CEO: Ira Robbins
Pros
- Excellent APYs
- No monthly maintenance fees
- Low minimum balance requirements
Cons
- Comparatively limited banking products
- No debit card access
- Online-only (you can’t open an account at Valley National Bank)
Valley Direct Bank is a suitable option for individuals seeking a straightforward, no-frills banking experience with competitive interest rates on savings accounts.
Valley Direct doesn't provide any banking services beyond savings accounts and CDs. Its parent company, Valley National Bank, offers a range of products including checking accounts, credit cards, mortgages, and loans. For Existing Valley National Bank clients, Valley Direct is likely a beneficial addition.
If your current bank suits you but you're just seeking a profitable account for your savings, Valley Direct presents a superb option. Your surplus funds, exceeding $250,000 in deposits at your main bank, could find a suitable home here. FDIC insurance typically limits coverage to $250,000 per individual at each financial institution (across all ownership types), meaning spreading your funds across several banks is a prudent strategy to enhance your protection.
Valley Direct Bank isn't suitable for everyone.
For those not banking with Valley National Bank, digital-only Valley Direct offers restricted functionality. It's an inadequate choice if you're seeking a comprehensive bank providing numerous account selections.
Valley Direct Bank's offerings and interest rates
Valley Direct offers a limited selection of banking products, yet it excels in what it provides. This overview details its high-yield savings account and certificates of deposit.
| Valley Direct Bank product | APY |
|---|---|
| High-yield savings account (HYSA) | 3.75%-4.30% |
| CDs | 3.75%-4.20% |
| High-yield savings account (HYSA) | |
|---|---|
| APY | 3.75%-4.30% |
| CDs | |
| APY | 3.75%-4.20% |
Bank details checked Aug. 27, 2025.
Savings account with a high yield (HYSA)
Finding a savings account that outperforms a CD in terms of yield is quite rare. Valley Direct, however, offers just that, providing new clients with an APY of up to 4.30% when they open an account with at least $1,000.
For those already banking with Valley Direct or Valley National Bank, a respectable 3.75% APY is achievable with a minimal opening deposit of only $1.
Bank details checked Aug. 27, 2025.
Certificates of deposit (CDs)
A CD is kind of like a savings account—though considerably more limiting. By depositing funds and agreeing to leave them untouched for a set period, you can frequently get a substantial APY. Touching your money too soon will result in penalties that could significantly reduce your earnings, and in some cases, even deplete your initial investment.
Here’s what to expect from Valley Direct Bank CDs.
Valley Direct Bank CD rates
| Term | APY |
|---|---|
| 6-month CD | 4.00% |
| 12-month CD | 3.50% |
| 6-month CD | |
|---|---|
| APY | 4.00% |
| 12-month CD | |
| APY | 3.50% |
Bank details checked Aug. 27, 2025.
Valley provides additional CD options, yet only the aforementioned two fall under the Valley Direct umbrella at this time.
Other services Valley Direct Bank offers
Valley Direct offers no other banking services. You’ll need to open an account with Valley National Bank to access basic features like checking accounts, auto loans, wealth management services, etc.
Valley Direct Bank platform, support
Managing your account is relatively straightforward through the Valley Direct website or mobile app. But if you run into trouble, you can reach out to Valley Direct via email at [email protected] or call them at 866-899-9900between 8 a.m. And 6 p.m. Eastern Time Monday through Friday.
Though Valley Direct is 100% online, you can also service your account in-person by visiting a Valley National Bank branch. These exist in Alabama, California, Florida, New Jersey, and New York.
Is Valley Direct Bank secure?
Valley Direct operates under Valley National Bank, which offers the security one would expect from a legitimate financial institution. It works to thwart cybercrime, fraud, and identity theft. Its mobile app also boasts its data encryption practices, ensuring your data is transferred over a secure connection. Valley Direct is also insured by the FDIC, up to $250,000 per individual.
Find Valley Direct Bank rivals
Valley Direct |  SoFi® Member FDIC |  Capital One |
|---|---|---|
| Checking account top APY | Checking account top APY | Checking account top APY |
| N/A | 0.50% | 0.10% |
| Savings account top APY | Savings account top APY | Savings account top APY |
| 4.30% | Get up to 3.60%.1 Get a 0.70% Boost on Savings APY to up to 4.30% for up to 6 months on new accounts with eligible Direct Deposit. Terms apply.2 | 3.50% |
| Top CD APY | Top CD APY | Top CD APY |
| 4.00% on an 6-month CD | N/A | 4.05% on a 1-year CD |
| Checking account monthly fee | Checking account monthly fee | Checking account monthly fee |
| N/A | $0 | $0 |
| Learn more | Learn more | Learn more |
| View offer at MoneyLion | View offer at SoFi | View offer at MoneyLion |
Bank details checked Aug. 27, 2025.
Valley Direct: Is it a fit?
Valley Direct is probably right for you if you have low-maintenance banking needs. Its savings and CD accounts can be a great place to park your money and let it lie dormant for the purpose of earning interest. If you’re looking for more than that, go elsewhere.
It’s worth repeating that you’ll find considerably more banking options with Valley National Bank—and you can manage Valley Direct accounts within its ecosystem (for example, you can access Valley Direct accounts within the Valley National Bank app).
Frequently asked questions
Valley Direct Bank: fees?
You won’t be charged monthly maintenance fees with a Valley Direct HYSA or CD. You also aren’t subject to fees from Valley Direct for transfers to or from your HYSA (though it’s possible the external institution may charge a fee).
You will be charged a fee if you withdraw your deposit from your Valley Direct CD before it matures—between 90 and 540 days worth of interest.
Can I connect Valley Direct Bank to my Valley National Bank account?
Your Valley Direct Bank account should link to your existing Valley National Bank account, allowing for essentially instant transfers.
To deposit or withdraw funds with Valley Direct Bank, follow these steps.
With Valley Direct savings accounts, clients can arrange for direct deposit, deposit checks using their mobile device, and exchange funds through Zelle. You can also move funds to or from an outside bank account. Customers may request a check from Valley Direct by sending a secure message via the Valley Direct website or by phoning 866-899-9900.
Yes, you can visit a Valley Direct Bank branch to access your account.
You'll need to open your Valley Direct HYSA or CD online, but you can still receive in-person assistance by visiting a physical Valley National Bank branch.
Yes, Valley Direct Bank is FDIC-insured.
Valley Direct Bank is FDIC-insured up to $250,000 per member.
SoFi disclaimer
1:
The annual percentage yield (APY) can fluctuate and is subject to change without notice. Current rates are effective as of 1/24/25. No minimum balance is necessary. Earnings might be reduced by fees. For more rates and details, visit https://www.sofi.com/legal/banking-rate-sheet.
2: 0.70% Savings APY Boost
Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking & Savings account with An Eligible Direct Deposit by January 31, 2026. Rates may fluctuate and are subject to modification. Conditions are valid at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.