Published on April 16th, 2017 | by William Charles29
DollarSavingsDirect: 1.8% APY Savings Account Review
Update 02/27/18: Rate is now 1.8% APY, highest basic savings account rate.
Update: 01/03/18 rate is now 1.6%
Rate is now 1.5% APY
Offer at a glance
- Interest Rate: 1.8% APY
- Minimum Balance: None
- Maximum Balance: Unknown
- Availability: Nationwide
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Insured: FDIC
- DollarSavingsDirect offers a 1.8% APY account, the account doesn’t have any requirements to receive this rate.
This account has no monthly fees to worry about.
DollarSavingsDirect is a division of Emigrant Bank, they have offered top rates in the past only to cut the rate dramatically at a later time. In terms of the rates DSD has offered, the previous high was 0.9% and they offered that for only four months according to deposit accounts. I personally don’t think there is a lot of value in chasing these basic savings account rates, if you don’t have the time for rewards accounts then pick one account that has offered a high APY for a long time and stick with that and instead focus on bank account bonuses.
That being said, this is the best basic savings rate currently and doesn’t have any minimum deposit required.