Dollar Savings Direct Savings Account Review

Here on the Online Banks Blog we like to bring you the latest news about online banks.  As part of that, I love to write about new online banks, online savings accounts and new online banking services that help individuals do their banking.  Well, today I have the pleasure of reviewing the Dollar Savings Direct Savings Account.

This Dollar Savings Direct Savings Account review will provide an overview of directsavingsdirect.com.  However, if there are changes to the Dollar Savings Direct service, I will provide updates on this online bank.

Dollarsavingsdirect.com is a subsidiary of Emigrant Direct.  Many of you online banking customers will be familiar with Emigrant Direct online bank.  It is a New York Private Bank & Trust that has offered online savings accounts for several years.  Now Emigrant Direct is launching a new savings account called Dollar Savings Direct.

The Dollar Savings Direct savings account launched offering a savings account interest rate of 3.75% APY.  But, since its initial launch, it has raised its saving accounts interest rate to 4.00% annual percentage yield.  It is nice to see them increasing their already good saving accounts rates.

In order to qualify for this 4% savings account you need to deposit a minimum balance of $1,000.  But make sure you maintain this minimum balance otherwise your interest rate falls to 1%.

A 4% APY is one of the highest online bank savings account rates in the nation.  If you are looking for high currect savings account interest rates, check out the Dollar Savings Direct savings account.

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By nittany · 6 Comments
Filed under: Savings Accounts 

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6 Comments on Dollar Savings Direct Savings Account Review

  1. Flagstar Money Market Account Review | Online Banks Blog on Tue, 25th Nov 2008 10:42 am

    2. [...] interest rates.  The online online savings account with higher interest rates right now is the Dollar Savings Direct savings account which is paying 4% APY and the Broadway Federal Savings Account which is having a special promotion [...]

  2. Chase Bank CD Rates | Online Banks Blog on Sun, 7th Dec 2008 6:03 pm

    3. [...] You can get a better interest rate by opening a Dollar Savings Direct Savings Account.  Here is my Dollar Savings Direct Savings Account Review.  I think that since this savings account pays higher than the Chase Bank CD rates for the 12 [...]

  3. Savings Square Savings Account Review | Online Banks Blog on Tue, 30th Dec 2008 4:09 pm

    4. [...] interest rate is 3.60% APY.  This yield savings account interest rate is not the higher than the Dollar Saving Direct Savings Account.  But, a 3.60% APY is still a great savings account interest rate.  Much higher than my ING [...]

  4. ING Direct Orange Savings Account Review | Online Banks Blog on Thu, 1st Jan 2009 1:43 pm

    5. [...] are higher than my Wachovia savings account, they are much lower than the interest rates on the Dollar Savings Direct Savings Account.  This high yield savings account is currenty paying 4.00% [...]

  5. CD Rates at Dollar Savings Direct | Online Banks Blog on Tue, 17th Mar 2009 7:32 pm

    6. [...] For those of you who do not know about Dollar Savings Direct Bank, it is an affiliate of Emigrant Direct bank.  Emigrant Direct Bank decided to create a new high yield online bank to attract new money instead of increasing Emigrant Direct Savings Accout interest rates.  If you would like to read more about this bank, here is my article on the Dollar Savings Direct Savings Account Review. [...]

  6. Ken on Wed, 22nd Apr 2009 2:52 pm

    7. Dollar Savings Account is the worst experience I have ever had. They forfeit your accrued interest when you close your account. When I called to ask they said that was their policy. This is so incredible.

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