Overview / Commentary
499 Park Avenue
New York, NY 10022

M.Y. Safra Bank, FSB was originally established in 2000 as T. Rowe Price Savings Bank. In 2013, the bank changed its name to M.Y. Safra Bank, and moved its headquarters from Baltimore, MD to New York, NY.

M.Y. Safra Bank offers its banking customers a variety of deposit products. These include personal checking accounts, personal savings accounts, personal money market accounts, and Certificates of Deposit (CDs). On the business side, M.Y. Safra Bank provides business checking accounts, business savings accounts, business money market accounts, and CDs. Customers are provided with access to online banking, bill pay, ATM, and debit cards.

The bank provides both interest and non-interest-bearing checking accounts, with interest-bearing accounts yielding higher rates for larger account balances. As for savings and money market accounts, at the time of this writing, the bank offers two interest rate tiers, depending upon account balance.

CD terms range from 7 days to 5 years and longer, and customers have the option of selecting custom terms with custom interest rates. “Jumbo” CDs, which requires large initial deposits, are also available.

In addition to these deposit accounts, the bank also provides various personal lending services, including mortgages and lines of credit. M.Y. Safra also offers its customers access to currency conversion and purchasing gold coins.

Related Posts

M.Y. Safra Bank 5 Year CD Rate Hike. - 9/5/2018

M.Y. Safra Bank upped the APY on its' 5year CD (from 3.01%) to 3.25% today; friendly EWP=90 days. 12mo CD APY=2.63% 36mo CD APY=3.00%.

M.Y. Safra Bank Ups 12-Month Online Promo CD APY - 7/21/2018

M.Y. Safra has raised the rate on its nationally available 12-month Online Promo CD to 2.51% APY. Can be opened with a minimum deposit is $5k of new money.

M.Y. Safra Bank Ups 12- and 60-Month Online Promo CDs - 4/26/2018

M.Y. Safra Bank has raised the rates on two of its Online Promo CDs: 12-month (2.21% APY) and 60-month (2.88% APY). Minimum deposit is $5 of new money.

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Reviews (4)

So Easy................

Posted by: Abbie | Sep 27, 2017

I recently opened a CD at Safra. Could not have been easier. Added bonus.they dont hold your money while you wait for them to verify your account by making small deposits in your funding account at your external bank. Everything was done in 2 days! Fantastic!

Great Bank

Posted by: mankiewitz | Jan 4, 2017

Great personal touch from the Branch Manager. He made me feel comfortable and guided me with my banking needs during a process that other banks made difficult. I would highly recommend the bank and the team to anyone that's looking for great service.

BEWARE Of Early Withdrawal Penalty

Posted by: Ravaan | Nov 20, 2018

I wanted to open a CD account here, but when I reviewed their Truth in Savings disclosure document online, I was shocked at their Early Withdrawal Penalty clause. The penalty is credited interest or 90 days of interest, whichever is HIGHER...You can lose everything! I will not recommend this bank at all, even if they have great CD rates.

Poor Client Relations . Inconsistent Staff Explanations.

I have been trying to withdraw a CD from this bank for at least 5 weeks. I have been my request was lost in the mail and then lost faxes . I requested the money be sent overnight, secured and tracked. I was told the check was cut and mailed one week ago. Apparently, it's a lost item again!
I have lost trust and respect from this unprofessional group and will be moving my assets..


Health Grade Components

FDIC Certificate #35154
Year Established2000
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.1%
Return on Equity - YTD0.9%
Annual Interest Income$8.8MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$363.0MM$287.5MM
LoansQ3 2018vs Q3 2017$211.7MM$161.5MM
DepositsQ3 2018vs Q3 2017$321.8MM$248.3MM
Equity CapitalQ3 2018vs Q3 2017$39.2MM$37.3MM
Loan Loss AllowanceQ3 2018vs Q3 2017$2.1MM$2.2MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$85.00K$0
Real Estate OwnedQ3 2018vs Q3 2017$0$0

Rates for M.Y. Safra Bank are currently being reviewed.


M.Y. Safra Bank Locations
T. Rowe Price Savings Bank499 Park AvenueNew York, NY 10022

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