Last Updated: 06/03/2026
SuperMoney User Recommendation Score +80
Strongly recommended5 total votes
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
3.96%(Verified 06/03/2026)
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Minimum Opening Deposit
$1
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Minimum Balance to Earn APY
$0.01
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Number of Reviews
Valley Bank High-Yield Savings Account Review
Valley Bank High-Yield Savings Account is offered by Valley National Bank, a bank founded in 1927 and based in Morristown, NJ. Valley Bank High-Yield Savings Account are available in 50 states and Washington, DC.
Key Takeaways
- Maximum APY is for new customers only but offers competitive rates for existing customers.
- Earn up to $2,000 in cash bonuses. Start your savings journey this December with promo code GIFT — available for new customers only. Open your first account, fund within 14 days, and earn cash rewards all year long. The more you save, the more you earn.
- High yield savings. This account offers an annual percentage yield of up to 3.96%*, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $1 to open an account.
Valley Bank High-Yield Savings Account Pros & Cons
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Valley Bank High-Yield Savings Account FAQ
Are savings accounts from Valley National federally insured?
FDIC insured up to $250,000 per depositor, per account ownership category.Does Valley National Bank offer a signup bonus?
Valley Bank High-Yield Savings Account has a bonus of $2,000 .
What is the minimum initial deposit for Valley Bank High-Yield Savings Account?
The minimum deposit to open a Valley Bank High-Yield Savings Account is $1.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY* does Valley Bank High-Yield Savings Account offer?
Valley Bank High-Yield Savings Account offers an APY of 3.96% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
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. Maximum APY is for new customers only
What fees does Valley Bank High-Yield Savings Account charge?
Valley Bank High-Yield Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does Valley Bank High-Yield Savings Account offer?
This savings account includes the following features:
- Bonus offer - Open an account and you may receive a signup bonus of up to $2000 . See offer page for more details.
- Mobile Banking Services - Valley Bank High-Yield 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.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Valley Bank High-Yield 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.
What is the customer support email for Valley Bank High-Yield Savings Account?
The customer support email for Valley Bank High-Yield Savings Account is hello@valleydirect.com.
How do people rate the customer service and user experience of Valley Bank High-Yield Savings Account?
Overall, Valley Bank High-Yield Savings Account is strongly recommended based on community reviews that rate customer service and user experience.
Valley Bank High-Yield Savings Account Disclosure: ¹New customers only. Earn a cash bonus when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive $75 for depositing between $10,000 and $24,499, $250 for depositing between $25,000 and $49,999, $500 for depositing between $50,000 and $99,999, and $1,000 for depositing $100,000 or more. To qualify for the bonus, your first deposit must be initiated between August 1, 2025, and November 30, 2025, by 11:59 PM ET, and the promo code EASY must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for this bonus. Bonus cash will be deposited by Raisin into the customer’s linked external bank account within 30 days of meeting all qualifying terms. This offer is available to new customers only and may not be combined with any other bonus offers. Raisin may modify or end this offer at any time and may withhold or revoke bonuses in cases of fraud, abuse, or violation of these terms or Raisin’s Terms of Service.
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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.
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SuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +80, or 4.6 on a 5-point rating scale.
+80
-1000+100
No one recommends
Everyone recommends
Valley Bank High-Yield Savings Account Community Reviews
Would you recommend Valley Bank High-Yield Savings Account to your friends?
JS
Jayden S.
Mar 11, 2024
May or may not recommend
As someone who's always on the lookout for the most efficient ways to grow my savings, the Valley Direct by Valley Bank Online High-Yield Savings Account has been a refreshing find. My journey through the world of financial products has taught me the importance of not just the numbers, but the overall banking experience. With Valley Direct, I've found an impressive balance of competitive interest rates and user-centric services that ...Show More
Johana R.
Feb 28, 2024
May or may not recommend
My experience with Valley Direct by Valley Bank Online High-Yield Savings Account stands out and has been notably positive. For me because of its high APY, low minimum deposit requirement, and absence of monthly fees make it a standout choice and I would recommend this account to anyone looking to make their money work harder for them. Although this account does not offer a debit card or access to a ...Show More
MA
Mary A.
Feb 27, 2024
May or may not recommend
Having used Valley Direct by Valley Bank's Online High-Yield Savings Account for the past year, I appreciate its competitive interest rates that have allowed my savings to grow steadily. The online interface is intuitive, making it easy to manage and monitor my account. However, during peak times, the website experienced occasional slowdowns, affecting the overall user experience. The customer service team, on the other hand, has been consistently responsive and ...Show More
JL
John L.
Feb 23, 2024
May or may not recommend
The account offers a competitive interest rate, allowing my savings to grow faster than with traditional savings accounts.
OJ
Ola J.
Jul 13, 2023
May or may not recommend
Valley Direct is known to offer a high-yield savings account, which means it typically provides a higher interest rate compared to traditional savings accounts. This can be advantageous for individuals looking to maximize their savings and potentially earn more on their money.
Additionally, Valley Direct is an online platform offered by Valley Bank, which means it offers convenience and accessibility. With online accounts, you can easily manage your funds anytime and ...Show More
Showing 5 of 5 reviews
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