Overview / Commentary
5 East 42nd Street
New York, NY 10017

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Mysavingsdirect Offering 0% Loans To Furloughed Government Employees - 1/26/2019

Here is a message when you currently (as of January 25, 2019) log into either MySavingsDirect or DollarSavingsDirect accounts (part of Emigrant Bank): "Important Message To Our Customers: If you are experiencing financial difficulty as a result of the Government furlough, please contact customer service for details regarding a 0% interest, no cost loan. We are here to help." Not sure how many banks or CUs will offer this to their customers in emergency situations with a broad message like this.

MySavingsDirect Ups Savings Account APY - 12/5/2018

MySavingsDirect has upped the rate of its nationally available MySavings Account to 2.40% APY, which is currently the country's top savings account rate.

2.40% Annual Percentage Yield Savings Rate - 12/5/2018

High Interest Savings Account Highlights: No Fees. No Minimums. Annual Percentage Yield is effective December 04, 2018 and is subject to change at any time.

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Very Good Savings Experience

Have had a savings account with MySavingsDirect for more than 6 years. This is a very good, easy-to-use online savings account. It's a basic no fees savings account. Never had any issues or problems with account set-up or ACH transfers.

Their support is excellent. Any questions or concerns I have are answered promptly via secure messaging.

Their savings account yield is very competitive and is frequently one of the best rates.

ACH Are Not Available For Five Business Days

Posted by: mikek753 | Sep 30, 2018

Available Balance
Your Available Balance consists of funds that you can withdraw now and excludes deposit amounts which are on hold. Deposits made to your MySavingsDirect account electronically via ACH are not available for five business days. Check deposits accepted for your initial funding are not available for 10 business days.

Teaser Rates with No Bottom

This website is one of many set up by Emigrant bank. I knew nothing about them until I set up this savings account because it offered me an attractive interest rate for savings accounts. Within 30 days of opening the account I recieved notice that they were cutting the rate by a quarter percent. 30 days later they cut it anothe quarter percent. They continues this until after four months the account was paying me 0.1% for a savings account at a time when there were multiple online banks paying in the 1 1/4 range. I later learned that this is typical for them as they have set up several of these websites that always use the same M.O.. They lure people in with a competative rate and then assume we are too lazy or too busy to notice we are getting shafted as they rapidly cut it to near zero.

Another Shell For Emigrant

Posted by: JamesX77 | Sep 24, 2018

As many have stated, another front for Emigrant bank now they have stopped putting the rates up on Dollarsavingsdirect. I've lost count of how many fronts this company keeps opening in order to pull the rug out from people on rates and hope nobody will make the effort to move. I'm not opening a third with them just to have to bounce around again in 3 months time.



Health Grade Components

FDIC Certificate #12054
Year Established1850
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.71%
Return on Equity - YTD8.62%
Annual Interest Income$317.9MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$5.78B$6.17B
LoansQ4 2018vs Q4 2017$3.86B$4.32B
DepositsQ4 2018vs Q4 2017$4.51B$4.64B
Equity CapitalQ4 2018vs Q4 2017$1.17B$1.20B
Loan Loss AllowanceQ4 2018vs Q4 2017$67.1MM$77.8MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$195.9MM$201.7MM
Real Estate OwnedQ4 2018vs Q4 2017$22.4MM$29.0MM
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Always verify rates and promotions with the bank or credit union. We are not MySavingsDirect; we are a rate comparison website and cannot provide official rates or promotions.

MySavingsDirect Savings Account Rates

2.40%--MySavings Account

MySavingsDirect CD Rates

2.40%$1k-6 Month My Term CD
1.65%$1k-60 - 120 Month My Term CD
1.30%$1k-30 Month My Term CD

MySavingsDirect 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 [email protected] 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.