My Savings Direct, a division of Emigrant Bank
For information concerning Emigrant Bank parent bank, please click here.
Online Rates - December 6, 2023
Your current location is: Ashburn, VA
| SAVINGS RATES | APY | MIN | |
|---|---|---|---|
|
Savings
|
4.35% | $1 | Compare |
| CD RATES | APY | MIN | |
|---|---|---|---|
|
6 Mo CD
|
1.50% | $1,000 | Compare |
|
24 Mo CD
|
5.00% | $1,000 | Compare |
|
30 Mo CD
|
1.50% | $1,000 | Compare |
|
36 Mo CD
|
5.00% | $1,000 | Compare |
|
60 Mo CD
|
2.00% | $1,000 | Compare |
Money that you deposit is held by Emigrant Bank. Emigrant Bank is an FDIC insured institution founded in 1850. It has approximately $6.52 billion in assets.
Overview 2023
General Information of the Parent Bank
| FDIC Insured | Yes |
| Insured Parent Bank | Emigrant Bank |
| FDIC Certificate | # 12054 |
| Date Established | 1850 |
| Assets | $6.52 billion |
| Loans | $4.50 billion |
| Deposits | $4.97 billion |
| Capital | $1.41 billion |
Customer Reviews for My Savings Direct, a division of Emigrant Bank (6)
Rated 3.83 stars out of 5 - based on 6 reviews
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.
- 1ONLINE CDOnline Bank-$50,0006 Month1.50%4.41x (National Avg. - 0.34%)$1,000-SCENARIO
Year Rate
1.50%Annual
InterestAnnual Interest
(After Tax)1 50,000 750 525 2 50,750 761 533 3 51,511 773 541 4 52,284 784 549 5 53,068 796 557 6 53,864 808 566 7 54,672 820 574 8 55,492 832 583 9 56,325 845 591 10 57,169 858 600 11 58,027 870 609 12 58,897 883 618 13 59,781 897 628 14 60,678 910 637 15 61,588 924 647 16 62,512 938 656 17 63,449 952 666 18 64,401 966 676 19 65,367 981 686 20 66,348 995 697 TOTAL $17,343 $12,140 - 2ONLINE CDOnline Bank-$50,00060 Month4.00%4.54x (National Avg. - 0.88%)$2,500-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 - 3ONLINE CDOnline Bank-$50,00024 Month4.40%7.11x (National Avg. - 0.62%)$2,500-SCENARIO
Year Rate
4.40%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,200 1,540 2 52,200 2,297 1,608 3 54,497 2,398 1,679 4 56,895 2,503 1,752 5 59,398 2,614 1,829 6 62,012 2,729 1,910 7 64,740 2,849 1,994 8 67,589 2,974 2,082 9 70,563 3,105 2,173 10 73,667 3,241 2,269 11 76,909 3,384 2,369 12 80,293 3,533 2,473 13 83,825 3,688 2,582 14 87,514 3,851 2,695 15 91,364 4,020 2,814 16 95,384 4,197 2,938 17 99,581 4,382 3,067 18 103,963 4,574 3,202 19 108,537 4,776 3,343 20 113,313 4,986 3,490 TOTAL $68,299 $47,809 - 4ONLINE CDOnline Bank-$50,00012 Month5.20%10.26x (National Avg. - 0.51%)$2,500-SCENARIO
Year Rate
5.20%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,600 1,820 2 52,600 2,735 1,915 3 55,335 2,877 2,014 4 58,213 3,027 2,119 5 61,240 3,184 2,229 6 64,424 3,350 2,345 7 67,774 3,524 2,467 8 71,298 3,708 2,595 9 75,006 3,900 2,730 10 78,906 4,103 2,872 11 83,009 4,316 3,022 12 87,326 4,541 3,179 13 91,867 4,777 3,344 14 96,644 5,025 3,518 15 101,669 5,287 3,701 16 106,956 5,562 3,893 17 112,518 5,851 4,096 18 118,369 6,155 4,309 19 124,524 6,475 4,533 20 130,999 6,812 4,768 TOTAL $87,811 $61,468 - 5ONLINE CDOnline Bank-$50,0009 Month5.30%N.A.$2,500-SCENARIO
Year Rate
5.30%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,650 1,855 2 52,650 2,790 1,953 3 55,440 2,938 2,057 4 58,379 3,094 2,166 5 61,473 3,258 2,281 6 64,731 3,431 2,402 7 68,162 3,613 2,529 8 71,774 3,804 2,663 9 75,578 4,006 2,804 10 79,584 4,218 2,953 11 83,802 4,441 3,109 12 88,243 4,677 3,274 13 92,920 4,925 3,447 14 97,845 5,186 3,630 15 103,031 5,461 3,822 16 108,491 5,750 4,025 17 114,242 6,055 4,238 18 120,296 6,376 4,463 19 126,672 6,714 4,700 20 133,386 7,069 4,949 TOTAL $90,455 $63,319 - 6LOCAL CDBank-$50,00012 Month5.75%11.34x (National Avg. - 0.51%)$1,000-SCENARIO
Year Rate
5.75%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,875 2,013 2 52,875 3,040 2,128 3 55,915 3,215 2,251 4 59,130 3,400 2,380 5 62,530 3,596 2,517 6 66,126 3,802 2,662 7 69,928 4,021 2,815 8 73,949 4,252 2,976 9 78,201 4,497 3,148 10 82,698 4,755 3,329 11 87,453 5,029 3,520 12 92,481 5,318 3,722 13 97,799 5,623 3,936 14 103,422 5,947 4,163 15 109,369 6,289 4,402 16 115,658 6,650 4,655 17 122,308 7,033 4,923 18 129,341 7,437 5,206 19 136,778 7,865 5,505 20 144,643 8,317 5,822 TOTAL $102,960 $72,072
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.
Review on the Parent BankTrace78
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?
Review on the Parent BankLorraine 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).
Review on the Parent BankPatelY
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.
Review on the Parent BankIsabellaTrans
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.
Review on the Parent BankJack 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).
Review on the Parent Bank