DollarSavingsDirect is one of three online deposit brands run by New York's Emigrant Bank, alongside EmigrantDirect and MySavingsDirect. All three operate under Emigrant Bank's FDIC charter, so deposits across the brands are aggregated for FDIC insurance - the $250,000-per-depositor limit applies to your combined balances at Emigrant Bank, not to each brand separately.
DollarSavingsDirect Review
Last reviewed August 2026
★★★★★ 4/5Visit DollarSavingsDirect →
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DollarSavingsDirect is an online division of Emigrant Bank
How its rates behave
Emigrant historically rotates which of its online brands carries the headline rate - DollarSavingsDirect may lead the market for a stretch, then hold flat while a sibling brand takes over. Check where its current APY actually stands against today's leaders on the RateZip Rate Index before opening or keeping an account.
Original profile
About
DollarSavingsDirect.com, an online division of Emigrant Savings Bank, offers high-yield savings accounts and CDs. Though Dollar Savings Direct offers only a few products, its rates are extremely competitive.
As mentioned above, Dollar Savings Direct is an online offering from Emigrant Savings Bank, which is the biggest privately owned savings bank in the US and New York City's oldest savings bank. Emigrant, founded in 1850, is a large bank, with over $14 billion in assets. In addition to DollarSavingsDirect.com, Emigrant operates Emigrant Direct, another online banking platform.
Dollar Savings Direct is well known for its interest rates on CDs and savings accounts. However, these rates require a $1,000 minimum deposit.
This bank profile is not an endorsement or advertisement for the bank's products and services. RateZip is an independent publisher of bank information.
RateZip Rate Index
Today's top savings rates
| Bank | APY | As of |
|---|---|---|
| Poppy | 4.25% | 2026-09-29 |
| Happen Bank | 4.20% | 2026-09-29 |
| Mitten | 4.01% | 2026-09-29 |
Highest published savings APYs tracked by RateZip as of 2026-09-29 13:05 ET. See the full RateZip Rate Index →
Frequently asked questions
Is DollarSavingsDirect a real bank?
It's an online banking division of Emigrant Bank, a New York savings bank founded in 1850. Your deposits are held by Emigrant Bank and FDIC-insured under its charter.
Are DollarSavingsDirect deposits FDIC insured?
Yes - through Emigrant Bank's FDIC coverage. Note that balances at DollarSavingsDirect, EmigrantDirect, MySavingsDirect, and Emigrant Bank itself are combined for the $250,000-per-depositor insurance limit.
Sources
- https://www.emigrantdirect.com/securebanking/faq.do - Emigrant Bank FAQ: EmigrantDirect, DollarSavingsDirect, and MySavingsDirect are each online banking divisions of Emigrant Bank; deposits across them are aggregated for FDIC insurance up to $250,000 per depositor.