For information concerning My Savings Direct, a division of Emigrant Bank online bank, please click here .
Emigrant Bank is an FDIC insured institution headquartered at
5 E 42nd St, New York, NY 10017.
It was founded in
1850 and has approximately $7 billion in assets. Customers can open an account at one of its 5 branches.
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details .
Real savings, real fast - $1200 avg monthly savings
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details .
Overview 2026
General Bank Information
FDIC Insured
Yes
FDIC Certificate
# 12054
Date Established
1850
Assets
$ 6.52 billion
Loans
$ 4.62 billion
Deposits
$ 4.85 billion
Capital
$ 1,409.24 million
Summary Balance Sheet as of December 31, 2025
ASSETS
Cash & Balances due from depository institutions
$ 562.77 million
Interest-bearing balances
$ 549.35 million
Total securities
$ 436.42 million
Federal funds sold and reverse repurchase
N.A.
Net loans and leases
$ 4.62 billion
Loan loss allowance
$ 78.58 million
Trading account assets
$ 0.89 million
Bank premises and fixed assets
N.A.
Other real estate owned
$ 4.65 million
Goodwill and other intangibles
$ 104.63 million
All other assets
$ 512.90 million
Total Assets
$ 5.00 billion
LIABILITIES
Total deposits
$ 4.85 billion
Interest-bearing deposits
$ 4.67 billion
Deposits held in domestic offices
$ 4.85 billion
% insured (estimated)"
86.82%
Federal funds purchased and repurchase agreements
N.A.
Trading liabilities
N.A.
Other borrowed funds
$ 18.90 million
Subordinated debt
N.A.
All other liabilities
$ 119.05 millionn
Total Liabilities
$ 5.00 billion
Shareholders’ Equity
$ 1,516.33 million
Summary Income Statement as of December 31, 2025
INCOME AND EXPENSES
Total Interest Income
$ 332.35 million
Total Interest Expense
$ 145.76 million
Net interest income
$ 186.59 million
Provision for loan and lease losses
$ 19.10 million
Total non interest income
$ 41.72 million
Total non interest expense
$ 161.01 million
Pre-tax Net Operating Income
$ 31.36 million
Customer Reviews for Emigrant Bank (6)
Rated 3.83 stars out of 5 - based on 6 reviews
Nuisance but good
June 13, 2023 |
These Emigrant subsidiaries - Dollar Savings Direct and My Banking Direct - are a real nuisance when one offers a better rate that the other will not match. Transfers are next day though. So I can transfer out of one and through Bank of America and into the other and I only lose 2 days of interest.
Trace78
December 28, 2022 |
Everyone loves to attack this one, but I've had a few of these accounts and here's the one thing I know. If I go to their site and want to transfer money from my external account, it is a same day thing. In other words I am earning interest the same day. Now, I know that it is only one account that you can link, can't run a transfer from outside, etc., etc., but this is worth something, no?
Lorraine J
December 5, 2022 |
Feels like the three cup gambling trick at tourist sites in London or Paris with all of the rate changes at different subs and not being about to move between Dollar Savings and My Savings. I also don't like the gold and foreclosed property pitches (only on websites after you log in). All that having been said, they do tend to be competitive with one of the two subs sometimes and they do not restrict online transfers (a huge problem with other banks on this list).
PatelY
October 25, 2022 |
Here is a warning. Unlike other online banks, if you try to set up an link in order to withdraw money from an external account by verifying two small deposits, it will be rejected by the bank. They only allow ACH deposits.
IsabellaTrans
October 11, 2022 |
Not great service, but all I need is access and the ability to transfer money with no limits and this one fits the bill nicely.
Jack the ripper 01
September 21, 2022 |
I am excited to see DSD as the first online bank to cross the 3% barrier. I have been an account holder on-and-off with this one from many years. I am aware of all of the comments about Emigrant Bank and their tactics. They have a history of playing among their brands - lower or holding one rate constant while raising another - and it is a real nuisance. But, that happens over months and years and usually not immediately (they aren't going to raise the rate to 3% today and lower it to 2% tomorrow, or at least that type of action isn't in their history). You can benefit from their higher rates as long as you continue to pay attention. And, the best thing is that if it becomes uncompetitive, you get out in two clicks (unlike Synchrony or Bread Savings or Rising Bank and Valley Direct that make it a full time job to get out).
Branches
Click on location and enter new zip number to change."
Your current location is: Phoenix, AZ
Nuisance but good
June 13, 2023 |
These Emigrant subsidiaries - Dollar Savings Direct and My Banking Direct - are a real nuisance when one offers a better rate that the other will not match. Transfers are next day though. So I can transfer out of one and through Bank of America and into the other and I only lose 2 days of interest.
Trace78
December 28, 2022 |
Everyone loves to attack this one, but I've had a few of these accounts and here's the one thing I know. If I go to their site and want to transfer money from my external account, it is a same day thing. In other words I am earning interest the same day. Now, I know that it is only one account that you can link, can't run a transfer from outside, etc., etc., but this is worth something, no?
Lorraine J
December 5, 2022 |
Feels like the three cup gambling trick at tourist sites in London or Paris with all of the rate changes at different subs and not being about to move between Dollar Savings and My Savings. I also don't like the gold and foreclosed property pitches (only on websites after you log in). All that having been said, they do tend to be competitive with one of the two subs sometimes and they do not restrict online transfers (a huge problem with other banks on this list).
PatelY
October 25, 2022 |
Here is a warning. Unlike other online banks, if you try to set up an link in order to withdraw money from an external account by verifying two small deposits, it will be rejected by the bank. They only allow ACH deposits.
IsabellaTrans
October 11, 2022 |
Not great service, but all I need is access and the ability to transfer money with no limits and this one fits the bill nicely.
Jack the ripper 01
September 21, 2022 |
I am excited to see DSD as the first online bank to cross the 3% barrier. I have been an account holder on-and-off with this one from many years. I am aware of all of the comments about Emigrant Bank and their tactics. They have a history of playing among their brands - lower or holding one rate constant while raising another - and it is a real nuisance. But, that happens over months and years and usually not immediately (they aren't going to raise the rate to 3% today and lower it to 2% tomorrow, or at least that type of action isn't in their history). You can benefit from their higher rates as long as you continue to pay attention. And, the best thing is that if it becomes uncompetitive, you get out in two clicks (unlike Synchrony or Bread Savings or Rising Bank and Valley Direct that make it a full time job to get out).