Doral Direct has one of the top high yield savings accounts available nationwide.  Doral Direct consistently offers a number of high yield CD account as well as a high yield money market account.  These accounts are often ranked among the top highest yielding accounts across the nation.

The Doral Direct money market is a variable-rate savings account that offers high interest rates, convenient online access to the funds, and FDIC insurance.  Interest earned on this account is compounded daily and credited to the account on the last day of each month.

The money market has a tiered structured that offer different Annual Percentage Yields (APYs) on two tiers: balances under $100,000.00 and balances of $100,000.00 and greater.  A minimum balance of $500.00 is required to open the account.  This is a variable rate savings account; yields for the money market account may change after the account is opened.

Doral Direct is the online branch of Doral Bank, an FDIC insured bank based in San Juan, PR. Doral Direct does business online only.  The money market account offered by the bank can be opened online through the bank web site or by mail.

Transferring money to and from the savings account is made via electronic transactions.  Customers can transfer funds between the Doral Direct money market account and their other bank accounts online at their convenience.  When the account is first opened, new customers will be asked to link the Doral account to an external bank account.  Customers can then initiate transfers to a linked external account anytime, up to six times per monthly statement cycle.

Account holder can also deposit money from any linked account into their money market account at their choosing.  And, customers can send deposits through the mail to the customer service center in Panama City Beach, FL.

More information about the terms and conditions of this savings account can be obtained by calling Doral at 1-855-513-6725.  Additional information can also be found at the bank web site located at doraldirect.com.  To see the current rates and compares this account with other high rate savings accounts view the money market account rates page.

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