Compound Interest Calculator
CD 6-month Account from Dollar Savings Direct, a division of Emigrant Bank with 4.00% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 6-month Account from Dollar Savings Direct, a division of Emigrant Bank with 4.00% APY and $1,000 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $29,605. The interest earned would be $9,605 and the tax amount on the interest earned would be approximately $2,881.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Dollar Savings Direct, a division of Emigrant Bank

Savings Boost of
$6,404 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
Dollar Savings Direct, a division of Emigrant Bank Interest Earned $6,723

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.23%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 45 32
2 20,045 45 32
3 20,091 45 32
4 20,136 46 32
5 20,181 46 32
6 20,227 46 32
7 20,273 46 32
8 20,319 46 32
9 20,364 46 32
10 20,410 46 32
TOTAL: $457 $320

Dollar Savings Direct, a division of Emigrant Bank Scenario

Rate:
4.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 800 560
2 20,800 832 582
3 21,632 865 606
4 22,497 900 630
5 23,397 936 655
6 24,333 973 681
7 25,306 1,012 709
8 26,319 1,053 737
9 27,371 1,095 766
10 28,466 1,139 797
TOTAL: $9,605 $6,723

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.


Recent Rate Changes



Date APY
February 20, 2024 4.00%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.25% on October 28.
6 Month Jumbo CD.

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↑0.20% on October 28.
Early Withdrawal Penalty is 3 months interest.

Last change: ↓0.50% on October 1.



Customer Reviews for Dollar Savings Direct, a division of Emigrant Bank (28)


  • June 13, 2023 |

    Online Savings Rates

    I'll steer clear of Dollar Savings Direct and My Savings Direct until they guarantee users at both online divisions their best rates. Banks have the right to segment their customers yes, but these games with moving rates at one and not the other are silly and don't value us and force us to move money all around to stay competitive.

  • October 17, 2022 |

    Online Savings Rates

    This is my third time around the block with Dollar and Emigrant. There is always a time to come and a time to go. It is an easy bank to work with and as long as the rate is competitive, it is fine. So, with the rate at 3.11% and most banks below 3%, this is a time to come.

  • September 27, 2022

    Online Savings Rates

    has strange old rules for link external bank , takes more time and difficult for no check writing today, just want advised for their name and dont want you deposit money to their bank for 3% interest.

  • September 25, 2022 |

    Online Savings Rates

    Had bad experiences before but they kept the account open with a zero balance for years. I'll try again and hope for a better outcome.

  • September 23, 2022 |

    Online Savings Rates

    I disagree strongly with some of the other reviews here. This is a known bank in New York with a functional website. Sure they play games with the different rates on different sites, but it is worth betting that they'd be too smart to lower the rate now. It is 3% now. You need to ignore the nonsense and take what comes at you. Just pay attention. Would you really rather be in Barclays @ 2 or Ally @ 2.1?


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