Online savings accounts Higher savings rates are back You'll find some of the best savings out there - right here
Whether you need easy access to your savings or want to lock in a great rate, we have options to help you reach your savings goals.
4.85% APY
High Yield Savings Account
Earn 12x the national average *
- 4.85% APY
- 24/7 online and mobile access
- Only $1 minimum deposit to open
- FDIC insured up to $250K
- See more details >
5.00% APY
12-Month CD
- 5.00% APY
- 12-month fixed term
- Fund your account up to $500,000 online only
- $500 minimum deposit required to open
- See more details >
5.35% APY 1
36-Month Variable CD
Our variable rate stays above market interest rates
- 5.35% APY
- 36-month variable rate CD
- Fund your account up to $500,000 online only
- $500 minimum deposit required to open
- See more details >
4.10% APY
24-Month CD
- 4.10% APY
- 24-month fixed term
- Fund your account up to $500,000 online only
- $500 minimum deposit required to open
- See more details >
Which account is right for me?
Not sure how to make the most of your savings? Here are the key differences between our High Yield Savings Account and CDs.
CDs
- Your money is held for a fixed time period **
- You cannot add money to a CD once it's been opened
- Ideal for savings that you won't need for a little while
- Great for saving for a home down payment, college, or a big purchase
High Yield Savings Account
- Competitive interest rate that can change over time
- Add or remove money whenever you need to, subject to certain terms and conditions
- A flexible option that gives you easy access to your money without missing out on interest
- Great for an emergency fund, your rainy day fund, saving for a vacation, saving for an upcoming purchase
No fees
Don't worry about being charged maintenance fees - we don't have them.
Secured and insured
Backed by Valley National Bank, your money is secured by our special encryption technology and is FDIC insured, subject to certain terms and conditions.
Get started in minutes
Open your account online in less than 5 minutes and start managing it using online and mobile banking.
Why online only?
Our online only accounts mean we can give our customers extra-competitive interest rates, so your savings work harder for you. You can still manage your accounts 24/7 with online and mobile banking, and our customer support is just an email or phone call away. With online only accounts, you get great savings rates with full digital access to your accounts. If you’re comfortable banking digitally, it's a win-win. Prefer in-branch support? Check out our other savings accounts at Valley Bank.
Most frequently asked questions
It should only take about 5 minutes to open an account, as long as you have all your information and identification available and ready.
To open a high yield savings or CD account, you must be at least 18 years old and be a resident of the U.S.
All primary and joint applicants will need the following:
- Social Security Number
- Valid ID (driver’s license, state ID, passport)
- A valid U.S. bank account with an online account username and password.
If you’re adding a beneficiary, you’ll need the beneficiary’s name, date of birth, and social security number.
Yes, Valley is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC protects your deposits at Valley up to $250,000 per depositor for each qualifying account ownership category. For more information about FDIC insurance, visit the FDIC website at fdic.gov. For reference, our FDIC certificate is 9396.
Yes, Valley is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC protects your deposits at Valley up to $250,000 per depositor for each qualifying account ownership category. For more information about FDIC insurance, visit the FDIC website at fdic.gov. For reference, our FDIC certificate is 9396.
For more than 95 years, we've been committed to our mission of giving people and businesses the power to succeed. Because at Valley Bank, we believe when our customers and communities thrive - we all do. That's why we're one of the largest and most trusted regional banks in the country, with more than $54 billion in assets and branch locations or commercial offices across New Jersey, New York, Florida, Alabama, California and Illinois.
But we always knew we wanted to do more for people beyond our physical footprint. That's why we created Valley Direct. So, we could bring the high-quality, trusted service our customers know us for directly to you - no matter where you are.
If you want to learn more about Valley Bank, go to Valley.com.
While your Valley Direct high yield savings or CD account can only be opened online, your accounts can be serviced at one of our convenient Valley branch locations in NJ, NY, FL and AL. You always have 24/7 access to your account via online banking.
Our corporate headquarters are located at:
1455 Valley Road, Wayne, NJ 07470.
Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. When you open an account, we must ask for your name, address, date of birth and other information that will allow us to identify you. We may also request your driver's license or other identifying documents, even if you currently maintain a banking relationship with us. Strict adherence to these regulations helps to protect Valley and its customers from criminal activity. Your cooperation is greatly appreciated.