My Savings Direct, a division of Emigrant Bank

Deposit Rates APY Vs.Others
Savings 0.50% 1.02% →
1-Year CD N.A. 1.45% →
2-Year CD N.A. 2.31% →
3-Year CD N.A. 2.85% →
4-Year CD N.A. 2.90% →
5-Year CD 2.00% 3.00% →

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 17, 2022

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online Savings Account
0.50% $1 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
6 Month CD
0.65% $1,000 - Learn More
30 Month CD
1.50% $1,000 - Learn More
60 Month Online CD
2.00% $1,000 - Learn More


Bank Offers

My Savings Direct Raises Online Savings Rate to 2.40%
Dec 5, 2018

My Savings Direct, a division of Emigrant Bank, has raised their online savings rate to 2.40%.   This is currently the best online savings rate available nationally.   

My Savings Direct Lowers Online Savings Rate to 1.90% APY
Dec 5, 2019

My Savings Direct, a division of Emigrant Direct, has lowered its online savings rate from 2.00 to 1.90% APY.   While the rate is still competititve, it feels like we are a long way from this past summer with this bank topped out at 2.50% APY.

My Savings Direct Lowers Online Savings Rate to 1.80% APY
Jan 7, 2020

My Savings Direct has lowered its online savings rate to 1.80% APY.   The Emigrant Direct subsidiary's rate is now a far cry from where it peaked at 2.50% in the Spring of 2019.

My Savings Direct Continues to Lower Its Savings Rates
Mar 12, 2020

My Savings Direct, a division of Emigrant, is continuing its drip-drip-drip lowering of savings rates with rates now at 1.60% APY.   While a lowering of rates is perfectly understandable in the current environment, it is disappointing to long-term customers as Emigrant is currently offering a 1.80% APY rate in its Dollar Savings Direct accounts.

Climate Initiatives

My 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 My Savings Direct, a division of Emigrant Bank (20)

  • September 17, 2020 |

    Online Savings Rates

    It is a complete game between MySavings, DollarSavings and Emigrant. Some days one has a competitive rate, the next day the rate on that one has dropped to zero and it is one of the other brands that has the highest rate. Best to just avoid all of the Emigrant brands all together and not play their game.

  • March 31, 2020 |

    Online Savings Rates

    MySavingDirect is bullshit. So is Emigrant. I checked today and they had quietly lowered the rate all the way to 1%. I will close it tomorrow.

  • September 6, 2019 |

    Online Savings Rates

    I hate to write this, because I know I will hit myself the next day when the rates are lower, but with everything that I have read on this blog and other blogs about staying away from Emigrant with all of the games, it is great that they have kept the rate at 2.4% in 2019. I more money here than I would have made at the bigger names that never got this high and are now much lower.

  • August 10, 2019

    Online Savings Rates

    I am still checking the rate daily. In spite of all of the bad will that Emigrant has built over the years with rate hikes and drops and a market where everyone else is dropping, they still haven't dropped it!

  • January 21, 2019 |

    Online Savings Rates

    I've read all of the comments here and on DepositAccounts about the raising and lower of rates by these banks that Emigrant owns. All that I will say is that I have been very happy here for the last few months. I check every few days and if they ever drop the rate or fail to keep pace, I will move it out in a second.

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