| Deposits FDIC Insured | Yes |
| Insured Bank | Emigrant Bank |
| FDIC Certificate # | 12054 |
| Date Established | 1850 |
| Assets | $6.19 billion |
| Loans | $4.1 billion |
| Deposits | $4.65 billion |
| Capital | $1.24 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.
| Online Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| High Interest Savings Account
|
0.35% | $0 | - |
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|
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 12 Month CD
|
0.40% | $1,000 | - |
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|
| 16 Month CD
|
0.40% | $1,000 | - |
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|
| 24 Month CD
|
0.40% | $1,000 | - |
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|
| 60 Month CD
|
0.50% | $1,000 | - |
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|
Emigrant has dropped the savings rate offered by both of its online banking subsidiaries.
This Emigrant bank subsidiary has lowered its savings rate by 10 basis points for the second time in a week.
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.
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 has made its 5th 10 basis point rate drop this month, leaving its online savings rate at 1.00% APY.
Lowered from 0.75% today. What else did you expect from Emigrant Bank?
A nice move from an online bank that was the rate leader until earlier this year.
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.
Customer Reviews for Dollar Savings Direct, a division of Emigrant Bank (23)
Jay
May 10, 2021 |
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).
Is this review helpful? Yes:0 / No: 0
TrentR
September 30, 2020 |
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.
Is this review helpful? Yes:0 / No: 0
WillyNilly
June 16, 2020 |
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.
Is this review helpful? Yes:0 / No: 0
william.t.jennings
June 6, 2020 |
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.
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annoyed
October 31, 2019 |
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!
Is this review helpful? Yes:0 / No: 0
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