My Banking Direct CD Rates: Act Now to Lock in High Returns Before the Projected 2023 Decline!

My Banking Direct is currently offering which is probably one of the best CD rates on an online short-term certificate of deposit. The CD rate offered by My Banking Direct is on the bank's the 5-month CD rate, currently at an impressive 5.15%, a rate that matches or exceeds many 12-month CD rates available right now. Rates are expected to decline this year or next year, so now is a good time to lock in a CD rate while rates are high.

If you're considering a slightly longer-term CD account than a 5-month CD, you can get 12-month CD rates above 5.00 percent with several other banks, but if you're time period is shorter, this 5-month CD from My Banking Direct is the way to go.

My Banking Direct, is a service of Flagstar Bank. Flagstar Bank, headquartered in Michigan, has been in operation since 1987, serving individuals, businesses, and communities with a variety of financial services, with My Banking Direct as its dynamic online banking division.

Over the years, My Banking Direct has harnessed the advancements in technology to make banking easier and more accessible for everyone, everywhere. They have earned a reputation for competitive rates and excellent customer service, attributes that reflect Flagstar Bank's commitment to its customers' financial growth and well-being.

Flagstar Bank, having celebrated over three decades of service, has successfully established a national presence and carved a niche for itself in the finance world, servicing billions of dollars in assets. With such a strong and substantial legacy, My Banking Direct benefits from the firm foundation and profound industry experience of Flagstar Bank.

By opening a CD account with My Banking Direct, not only do you get a really high CD rate on a 5-month CD, but also the assurance of banking with an established, reliable institution. You can compare this 5-month CD rate with other rates by using our rate table here: Bank CD Rates at

Author: Brian McKay
May 19th, 2023

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