Emigrant Bank
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.
Deposit Rates - December 11, 2025
| SAVINGS RATES | APY | MIN | |
|---|---|---|---|
|
SAV
|
0.05% | $1 | Compare |
| MM RATES | APY | MIN | |
|---|---|---|---|
|
Money Market
|
0.10% | $100 | Compare |
| INT CHECKING RATES | APY | MIN |
|---|---|---|
|
INTCK
|
0.15% | $1 |
Loan Rates - December 11, 2025
| MORTGAGE PURCHASE | APR(%) | MONTHLY PAYMENT |
|---|---|---|
|
15 Year Fixed Conforming
|
5.70% | $2,780.51 |
|
15 Year Fixed Jumbo
|
6.58% | $2,829.94 |
|
30 Year Fixed Conforming
|
6.30% | $1,993.25 |
|
30 Year Fixed Jumbo
|
6.42% | $2,222.17 |
| MORTGAGE REFINANCE | APR(%) | MONTHLY PAYMENT |
|---|---|---|
|
15 Year Fixed Conforming
|
5.70% | $2,780.51 |
|
15 Year Fixed Jumbo
|
6.58% | $2,829.94 |
|
30 Year Fixed Conforming
|
6.30% | $1,993.25 |
|
30 Year Fixed Jumbo
|
6.42% | $2,222.17 |
Overview 2025
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 June 30, 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 June 30, 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
Branches
Click on location and enter new zip number to change."
Your current location is: New York City, NY
Emigrant Bank Locations
Savings Comparison
This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis."
PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES
Tax Rate: 30%
All calculations are for demonstration purposes only."
- 1LOCAL SAVINGSBank-$50,000N.A.0.05%0.22x (National Avg. - 0.23%)$1-SCENARIO
Year Rate
0.05%Annual
InterestAnnual Interest
(After Tax)1 50,000 25 18 2 50,025 25 18 3 50,050 25 18 4 50,075 25 18 5 50,100 25 18 6 50,125 25 18 7 50,150 25 18 8 50,175 25 18 9 50,200 25 18 10 50,225 25 18 11 50,251 25 18 12 50,276 25 18 13 50,301 25 18 14 50,326 25 18 15 50,351 25 18 16 50,376 25 18 17 50,402 25 18 18 50,427 25 18 19 50,452 25 18 20 50,477 25 18 TOTAL $502 $352 - 2ONLINE SAVINGSBank-$50,000N.A.4.00%17.70x (National Avg. - 0.23%)$1,000-SCENARIO
Year Rate
4.00%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,000 1,400 2 52,000 2,080 1,456 3 54,080 2,163 1,514 4 56,243 2,250 1,575 5 58,493 2,340 1,638 6 60,833 2,433 1,703 7 63,266 2,531 1,771 8 65,797 2,632 1,842 9 68,428 2,737 1,916 10 71,166 2,847 1,993 11 74,012 2,960 2,072 12 76,973 3,079 2,155 13 80,052 3,202 2,241 14 83,254 3,330 2,331 15 86,584 3,463 2,424 16 90,047 3,602 2,521 17 93,649 3,746 2,622 18 97,395 3,896 2,727 19 101,291 4,052 2,836 20 105,342 4,214 2,950 TOTAL $59,556 $41,689
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).