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866-395-8693
5 East 42nd Street
New York, NY 10017

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6 Month CD, 2.15%APY, $1000 Minimum - 8/1/2018

I guess to compensate for not raising their rate, they are offering 2.15% for 6 months. This is very intriguing. Given the lost interest from the time to transferr to another bank, plus effort, this seems a good short term place holder.

No Longer Claims To Be Top Rate In America. - 7/27/2018

Dollar Savings Direct changed their logo to "One of the top rates in America". They no longer want to be the rate leader. I gues this is the end of DSD. Except for their fast next day ACH, their isn't much reason to continue banking with them.

DollarSavingsDirect Leads With Savings Account - 2/27/2018

DollarSavingsDirect raised the rate on its Dollar Savings Account to 1.80% APY on all balances. Its 60-month CD now earns 2.80% APY and can be opened with $1k deposit.

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No Problems But Rate Isn't The Best Anymore.

Posted by: Ben111 | Jul 12, 2018

I've had a great experience with this bank! No problems what so ever. I love how you are able to see how much interest you have gained daily on their sight. Only problem is, now we have other savings options at 2% compared to 1.8 offered here. I will be opening an account elsewhere and transfering my money over next week unless im lucky enough for the rate here to climb before.??

No Real Complaints Yet :)

Had this savings account for a week, better than live oak bank. DSD website is fast, clean layout, all the details of the account is displayed just like Ally, respond to secure messages very quickly, transfers next business day even though the terms says 2-4, and best interest rate w/o playing games to get current interest rate offered.

Issues to keep in mind (because who writes a review with only nice things to say right?!), the terms state DSD may exercise their right to require 60 day written notice to withdraw money, and DSD said in email they never have exercised that right, and DSD has priors to raise interest then drop it back down after meeting quota.

Warning - This Is Not A Liquid Account

Posted by: slovokia | Jul 13, 2017

Dollar Savings Direct reserves the right to hold your money for 60 days after you notify them of your intention to withdraw your money.

"Refusal to Permit Withdrawal
The Bank may refuse to permit withdrawals in cases such as, but not limited to, the following:

The Bank chooses to exercise its legal rights to require up to 60 days advance written notice of any intended withdrawal from this Account and the 60 days have not passed since we received the required notice from you;"

From: https://www.dollarsavingsdirect.com/DollarSavingsDirectWeb/en/common/help/consumer/AccountDisclosures.jsp

So while the interest rate might be nice you are potentially locking up your money for 2 months. So if you want to invest in the stock market during a financial crisis you may not be able to do it with money on deposit at Dollar Savings Direct.

For comparison purposes most other internet banks only reserve the requirement of 7 days advanced notice for withdrawals.

Can't Withdrawal From External Source

Posted by: skynet | May 2, 2017

Evidently, the only way you can withdrawal your money through ACH is by initiating it from their website. You can't have another externally linked bank debit the funds. Interesting however that you can have an external bank deposit the funds, but the same bank cannot withdrawal them. Totally unacceptable in my opinion. A stupid policy like this is an excellent way to lose customers.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #12054
Year Established1850
Employees479
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD4.37%
Annual Interest Income$75.8MM
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$6.29B$6.31B
LoansQ1 2018vs Q1 2017$4.27B$4.29B
DepositsQ1 2018vs Q1 2017$4.86B$4.24B
Equity CapitalQ1 2018vs Q1 2017$1.22B$1.11B
Loan Loss AllowanceQ1 2018vs Q1 2017$79.3MM$77.7MM
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$209.7MM$232.9MM
Real Estate OwnedQ1 2018vs Q1 2017$26.4MM$37.2MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

6 Month CD, 2.15%APY, $1000 Minimum

barry_NY   |  
I guess to compensate for not raising their rate, they are offering 2.15% for 6 months. This is very intriguing. Given the lost interest from the time to transferr to another bank, plus effort, this seems a good short term place holder.

No Longer Claims To Be Top Rate In America.

barry_NY   |  
Dollar Savings Direct changed their logo to "One of the top rates in America". They no longer want to be the rate leader.

I gues this is the end of DSD. Except for their fast next day ACH, their isn't much reason to continue banking with them.

Rates
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Always verify rates and promotions with the bank or credit union. We are not DollarSavingsDirect; we are a rate comparison website and cannot provide official rates or promotions.

DollarSavingsDirect Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%--Dollar Savings Account

DollarSavingsDirect CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.80%$1k-60 Month CD
2.15%$1k-6 Month CD
2.00%$1k-24 Month CD
1.90%$1k-16 Month CD
1.80%$1k-12 Month CD
Locations

DollarSavingsDirect is an Internet only bank and does not have branch locations. Its headquarters is located at 5 East 42nd Street - New York, NY 10017

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.