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11/14 - Mysavingsdirect Savings Account Raised To 2.35% APY.
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9/6 - MySavingsDirect Savings Account Rate Soars
9/5 - Increased Savings Rate To 2.25%
6/11 - MySavingsDirect's 6-Month CD Rate Jumps
9/9/15 - Rate Reduction Notification To 1.10%
6/8/15 - 6 Month CD Term 1.05% APY Savings Account 1.25% APY
6/8/15 - MySavingsDirect Substantially Raises Rate on MySavings Account Today
11/24/14 - MySavingsDirect Savings Account - Over a Year of 1%+
9/23/14 - Rate Hike At My Savings Direct
11/18/13 - Emigrant’s New Internet Bank: MySavingsDirect
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
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
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.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 12054 |
| Year Established | 1850 |
| Employees | 488 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.71% |
| Return on Equity - YTD | 8.62% |
| Annual Interest Income | $317.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $5.78B$6.17B |
| Loans | Q4 2018vs Q4 2017 | $3.86B$4.32B |
| Deposits | Q4 2018vs Q4 2017 | $4.51B$4.64B |
| Equity Capital | Q4 2018vs Q4 2017 | $1.17B$1.20B |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $67.1MM$77.8MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $195.9MM$201.7MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $22.4MM$29.0MM |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.40% | - | - | MySavings Account |
MySavingsDirect CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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