My eBanc offers 4.45% APY for CDs but requires $100K minimum deposits

My eBanc, a digital banking division of Brazil-based Bradesco Bank, has emerged as a niche player in the U.S. market, offering exceptionally high annual percentage yields (APYs) on savings, certificates of deposit (CDs), and money market accounts. However, these competitive rates come with significant barriers to entry, including high minimum deposit requirements and limited physical banking options. As of July 25, 2025, the platform’s highest APYs reach 4.25% for money market accounts and 4.45% for select CDs, though accessing these rates requires maintaining balances of $100,000 or more in some cases [1].

My eBanc’s product suite is narrowly focused, excluding loans, credit cards, and retirement accounts. Instead, it prioritizes APY-driven savings vehicles such as the eRelationship Savings Account (3.90% APY for balances over $100,000) and the SuperSaver Money Market Account (4.25% APY for similar thresholds). The Jumbo Online Time Deposits, requiring a $50,000 minimum deposit, offer up to 4.40% APY for 6-month terms. These accounts appeal to high-net-worth individuals seeking to maximize returns on liquid assets, though the rigid requirements exclude those with smaller balances [1].

The trade-offs are clear. While My eBanc’s APYs outpace those of major competitors like Capital One and SoFi for certain products, its accessibility is constrained. The platform imposes monthly maintenance fees unless customers maintain balances exceeding $5,000 to $25,000, depending on the account. Additionally, the sole U.S. branch in Coral Gables, Florida, limits in-person banking options, making it unsuitable for customers prioritizing physical interactions [1].

Customer reviews reflect a mixed reception. Users praise the platform’s digital tools and high returns but note inconsistent customer service responsiveness. My eBanc’s security features, including FDIC insurance up to $250,000, bolster trust, yet the lack of traditional banking services remains a drawback. Comparisons with SoFi and Capital One highlight the trade-off between My eBanc’s superior APYs and the broader offerings of its rivals. For instance, SoFi’s 3.80% savings APY and 0.50% checking APY (with promotional terms) are less competitive than My eBanc’s 3.90% savings APY but come with no minimum deposit requirements [1].

The bank’s target demographic is evident: investors with at least $5,000 seeking high-yield alternatives to conventional savings accounts. Those who can meet the $100,000 threshold for top-tier rates gain access to some of the most attractive yields in the market. However, the platform is ill-suited for everyday banking needs or users with modest savings. The absence of loans and credit products further restricts its utility.

Critically, My eBanc’s model reflects a strategic niche rather than a direct competitor to traditional banks. By leveraging Bradesco Bank’s infrastructure, it avoids the overhead costs of maintaining a full-service branch network, enabling it to allocate resources toward competitive interest rates. This approach aligns with broader trends in digital banking, where institutions differentiate through specialized offerings rather than comprehensive services.

For potential users, the decision to engage with My eBanc hinges on financial capacity and priorities. While the high APYs are enticing, they are accessible only to those with substantial capital. The platform’s lack of flexibility for smaller accounts or in-person banking ensures its appeal remains limited to a specific segment of the market. As interest rates fluctuate, My eBanc’s ability to maintain these elevated yields without adjusting its minimum requirements will be key to its long-term viability.

Source: [1] [My eBanc review: High APYs for those who can meet high minimum account balances](https://fortune.com/article/my-ebanc-review/)