Digital High-Yield Savings Account

Grow your savings faster with an amazing rate from Bankwell Direct. 


Digital High-Yield Savings

4.25% APY*

  • $100 minimum opening deposit
  • No monthly service fees
  • Interest compounded daily
  • Fast and secure online application
  • FDIC insured
Apply Now

The Bankwell Direct Advantage


Stay Safe With FDIC Insurance

All accounts are FDIC insured to the maximum legal limits.

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Open Your Account in Minutes

No need to talk to a person; create your account 100% online.

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$100 Minimum Opening Deposit

Start with only $100 to open and earn interest. Add more when you're ready.

10x the national average savings account rate with low opening deposit



Bankwell Direct is part of Bankwell Financial Group, a publicly-traded commercial bank with more than $3.5 billion in assets with nine branch locations throughout southern Connecticut. When you open an account with Bankwell Direct, you are a Bankwell customer. We bring high tech, high touch and high quality banking with the expertise of our experienced team of professionals.

Opening an account is easy and takes only a few minutes. After you select the account you want to open, just enter your information, and follow simple steps to complete the account set up.

Yes, you can open joint accounts to share ownership of the account.

No checks are issued with this account.

Interest rates are updated periodically based on many factors, including market conditions.

Yes, our Client Support Center is there to assist you, M-F, from 8am – 6pm EST and is available through phone and chat. You can reach them through our website, mobile app or by calling 877-715-3265. We are there to answer your standard questions and address more complex transactions, account-related inquiries, or technical issues that may arise.

Yes, your deposits are FDIC insured by Bankwell in accordance with FDIC standards. You can visit for more information. 

Yes, we have advanced security measures such as encryption, multi factor authentication and fraud detection systems to ensure the safety of your financial information.

Bankwell Direct is part of Bankwell’s online banking platform.  Visit Online Enrollment to enroll in online banking.  For access on the go, download the Bankwell app for your device.  

Ready to start earning more? Open your high-yield savings account today.




*Annual Percentage Yield (APY)  is subject to certain terms and conditions. Digital High-Yield Savings APY is 4.25% and the Annual Interest Rate is 4.16%.  The rate is variable and has a $100 minimum to open and earn interest.  Fees may reduce earnings. Excessive transfers or withdrawals may result in fees.

**10x based on FDIC monthly interest savings rate as of September 18, 2023.