Dollar Savings Direct, a division of Emigrant Bank

Deposit Rates APY Vs.Others
Savings 0.75% 1.02% →
1-Year CD 1.25% 1.45% →
2-Year CD 1.25% 2.86% →
3-Year CD N.A. 3.01% →
4-Year CD N.A. 3.11% →
5-Year CD 2.00% 3.21% →

2022 Overview

General Online Bank Information

Money that you deposit is held by Emigrant Bank. Emigrant Bank is an FDIC insured institution founded in 1850. It has approximately $5.80 billion in assets.

Deposits FDIC Insured Yes
Insured Bank Emigrant Bank
FDIC Certificate # 12054
Date Established 1850
Assets $5.8 billion
Loans $4.09 billion
Deposits $4.21 billion
Capital $1.41 billion

For a more detailed analysis of Emigrant Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - May 22, 2022

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
High Interest Savings Account
0.75% $0 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
12 Month CD
1.25% $1,000 - Learn More
16 Month CD
1.25% $1,000 - Learn More
24 Month CD
1.25% $1,000 - Learn More
60 Month CD
2.00% $1,000 - Learn More


Bank Offers

Emigrant Drops Dollar Savings Direct to 1.50% APY and My Savings Direct to 1% APY
Mar 17, 2020

Emigrant has dropped the savings rate offered by both of its online banking subsidiaries.

Dollar Savings Direct Lowers Savings to 1.30% APY
Jun 16, 2020

This Emigrant bank subsidiary has lowered its savings rate by 10 basis points for the second time in a week.

Dollar Savings Direct Lowers Savings to 1.20% APY
Jun 24, 2020

This is the bank's third 10 basis point cut in less than 3 weeks.   Whereas most banks make quick cuts, this Emigrant subsidiary seems to opt for something akin to water torture.

Dollar Savings Direct Lowers Savings to 1.10% APY
Jun 25, 2020

This 10 basis point drop follows a 10 basis point drop two days ago, and 2 earlier ones within the last two weeks.   Drip, drip, drip.

Dollar Savings Direct Lowers Savings to 1.00% APY
Jun 30, 2020

Dollar Savings Direct has made its 5th 10 basis point rate drop this month, leaving its online savings rate at 1.00% APY.

Dollar Savings Direct Lowers Savings to 0.60% APY
Sep 22, 2020

Lowered from 0.75% today.   What else did you expect from Emigrant Bank?

Dollar Savings Direct Lowers Online Savings Rate From 0.55% to 0.50% APY
Nov 11, 2020

A nice move from an online bank that was the rate leader until earlier this year.

Dollar Savings Direct's online savings rate is now 0.45% APY
Nov 24, 2020

This is down from 0.50% and a far cry from a year ago when the Emigrant subsidiary offered the most competitive online savings rate in the industry.

Dollar Savings Direct Boosts Online Savings Rate from 0.35% to 0.75% APY
May 6, 2022

Emigrant Direct's subsidiary is back.

Climate Initiatives

Dollar Savings Direct, a division of Emigrant Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.

Customer Reviews for Dollar Savings Direct, a division of Emigrant Bank (23)

  • May 10, 2021 |

    Online Savings Rates

    Dollar Savings Direct is as close as anything gets to a scam without being labeled a scam. CDs renewing below market rates at no notice. Savings rates going above market levels and then way below (again no notice). A barrage of letters and emails imploring you to buy gold and store with them (more costly than ETFs like GLD, IAU, AAAU).

  • September 30, 2020 |

    Online Savings Rates

    Website hasn't been working for over a week now. Just great how they manage to go down as rates start to fall. :) I am so very done with this nonsense.

  • June 16, 2020 |

    Online Savings Rates

    Howard Millstein is a prick with all over his bait and switch games. Rate is always quietly falling by 10 basis points and going to zero.

  • June 6, 2020 |

    Online Savings Rates

    DSD is fine as long as you check the rate everyday. One day you wake up and it is paying zero. Then you switch to dollarsavingsdirect. Never stay over $250k in the two combined. Emigrant Bank plays bait and switch, but they usually keep one of the two very competitive.

  • October 31, 2019 |

    Online CDs 60 Month Rates

    I have a savings account with MySavingsDirect and these make me close it, move the money out, open a new account with Dollar Savings Direct, fund it, finally get the money transferred. I lost 2 weeks of interest in order to get a 5-year CD at 2.80%. It is all Emigrant!

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