Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.55%(Verified 06/21/2024)
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $100
Minimum Balance to Earn APY
$0
Comenity Direct High Yield Savings Account Review
Comenity Direct High Yield Savings Account is offered by Comenity Bank, a bank founded in 2003 and based in Draper, UT. Comenity savings account are available in 50 states and Washington, DC.
Key Takeaways
- Higher than average APY. Comenity Direct High Yield Savings Account has an annual percentage yield of up to 0.55%, which is higher than the average interest rate for savings accounts.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- $100 minimum opening deposit. This is a typical minimum initial deposit.
Comenity savings account Pros & Cons
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Comenity savings account FAQ
Are savings accounts from Comenity Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC #57570). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Comenity Bank offer a signup bonus?
Comenity savings account doesn't offer a signup bonus.
What is the minimum initial deposit for Comenity savings account?
The minimum deposit to open a Comenity savings account is $100.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Comenity Direct High Yield Savings Account offer?
Comenity savings account offers an APY of 0.55% (APY stands for annual percentage yield, rates may change).
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does Comenity savings account charge?
Comenity savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $25 fee.
- Outgoing international bank transfers come with a $25 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Comenity savings account charges $5 every time you request a paper statement.
What features and perks does Comenity savings account offer?
This savings account includes the following features:
- Fraud monitoring - Comenity savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - Comenity savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
Can you set up a direct deposit to Comenity savings account?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from our editor
Hours of Operation
Sunday
9:00AM - 5:00PM
Monday
7:00AM - 11:00PM
Tuesday
7:00AM - 11:00PM
Wednesday
7:00AM - 11:00PM
Thursday
7:00AM - 11:00PM
Friday
7:00AM - 11:00PM
Saturday
9:00AM - 5:00PM
Other Services by Comenity Bank
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APY (Annual Percentage Yield)
4.95%
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Minimum Opening Deposit
$100
Minimum Balance to Earn APY
N/A
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