A money in the bank deal is being offered by Grand Yield Direct through their online high yield savings account that earns 1.40% APY on all balances.

The high interest savings account can only be opened online. This is how the bank is able to maintain the attractive interest rates for these consumer products. You can send your initial funding via ACH or you can also mail a check to the bank. You can also have a joint account holder if you opt to for this account.

Interestof this savings account is compounded every month. You don’t have to worry about any monthly fees when you manage this savings account.

You can monitor your deposit through your online account access any time. You will also receive a monthly statement from Apple Bank or it will be quarterly if there are no account activities.

The bank representative we spoke to is not sure if there is a hard credit pull done during application so it will be safe to call the bank to inquire if you do not want a ding on your credit score.

Regular ACH transfers will not cost you anything but you need to pay $10 if you want the transaction to be completed on the next business day.

Grand Yield Direct is an online consumer product from Apple Bank for Savings.

Apple Bank for Savings is headquartered in New York. It is well funded institution with about $7 billion in assets. It manages about 50 branches spread across New York including offices in the Long Island, 5 boroughs, and Westchester County.

The bank is a member of the FDIC.