Compound Interest Calculator
CD 2-year Account from Dollar Savings Direct, a division of Emigrant Bank with 2.50% APY and $1,000 minimum deposit
Use or Change These Amounts and Rates
The product CD 2-year Account from Dollar Savings Direct, a division of Emigrant Bank with 2.50% APY and $1,000 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $25,602. The interest earned would be $5,602 and the tax amount on the interest earned would be approximately $1,681.
Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
The Results for Dollar Savings Direct, a division of Emigrant Bank
Savings Boost of
$2,962 over 10 years
$2,962 over 10 years
Cash Savings
$20,000
Average Interest Earned
$959
Dollar Savings Direct, a division of Emigrant Bank Interest Earned
$3,921
See comparison detail table
This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.
Comparison Detail Table Close X
Average Rate Scenario
| Rate: 0.67% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 133 | 93 |
| 2 | 20,133 | 134 | 94 |
| 3 | 20,267 | 135 | 94 |
| 4 | 20,402 | 136 | 95 |
| 5 | 20,537 | 137 | 96 |
| 6 | 20,674 | 137 | 96 |
| 7 | 20,811 | 138 | 97 |
| 8 | 20,950 | 139 | 98 |
| 9 | 21,089 | 140 | 98 |
| 10 | 21,229 | 141 | 99 |
| TOTAL: | $1,371 | $959 |
Dollar Savings Direct, a division of Emigrant Bank Scenario
| Rate: 2.50% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 500 | 350 |
| 2 | 20,500 | 513 | 359 |
| 3 | 21,013 | 525 | 368 |
| 4 | 21,538 | 538 | 377 |
| 5 | 22,076 | 552 | 386 |
| 6 | 22,628 | 566 | 396 |
| 7 | 23,194 | 580 | 406 |
| 8 | 23,774 | 594 | 416 |
| 9 | 24,368 | 609 | 426 |
| 10 | 24,977 | 624 | 437 |
| TOTAL: | $5,602 | $3,921 |
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Recent Rate Changes
| Date | APY |
|---|---|
| March 24, 2025 | 2.50% |
| February 20, 2024 | 3.00% |
| October 12, 2023 | 5.00% |
| August 30, 2023 | 3.00% |
| August 20, 2023 | 3.00% |
Featured CD Rates
Advertiser Disclosure| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.50% | $100,000 |
Learn More on the North American Savings Bank, F.S.B. website |
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Decide once. Earn for a year. A full year of predictable earnings with our 12-Month Jumbo CD. 12-Month |
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5.00% |
$10,000 |
Learn More | |
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Last change: ↑0.05% on October 8. |
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4.95% |
$10,000 |
Learn More | |
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Last change: ↑0.10% on October 8. |
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4.85% |
$10,000 |
Learn More | |
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Last change: ↑0.05% on October 8. |
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|
4.75% |
$0 |
Learn More | |
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Last change: ↑0.40% on October 11. |
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Customer Reviews for Dollar Savings Direct, a division of Emigrant Bank (28)
2.7 out of 5 based on 23 ratings
J Dally
June 13, 2023 |
I'll steer clear of Dollar Savings Direct and My Savings Direct until they guarantee users at both online divisions their best rates. Banks have the right to segment their customers yes, but these games with moving rates at one and not the other are silly and don't value us and force us to move money all around to stay competitive.
Is this review helpful? Yes:0 / No: 0
TresFois
October 17, 2022 |
This is my third time around the block with Dollar and Emigrant. There is always a time to come and a time to go. It is an easy bank to work with and as long as the rate is competitive, it is fine. So, with the rate at 3.11% and most banks below 3%, this is a time to come.
Is this review helpful? Yes:1 / No: 1
james
September 27, 2022
has strange old rules for link external bank , takes more time and difficult for no check writing today, just want advised for their name and dont want you deposit money to their bank for 3% interest.
Is this review helpful? Yes:0 / No: 5
YE1971
September 25, 2022 |
Had bad experiences before but they kept the account open with a zero balance for years. I'll try again and hope for a better outcome.
Is this review helpful? Yes:0 / No: 0
Disagreeing
September 23, 2022 |
I disagree strongly with some of the other reviews here. This is a known bank in New York with a functional website. Sure they play games with the different rates on different sites, but it is worth betting that they'd be too smart to lower the rate now. It is 3% now. You need to ignore the nonsense and take what comes at you. Just pay attention. Would you really rather be in Barclays @ 2 or Ally @ 2.1?
Is this review helpful? Yes:2 / No: 1
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