Dollar Savings Direct is offering a 2.25% APY 16 month CD and a 2.5% APY 5 year certificate of deposit. In order to open a CD at DollarSavingsDirect you need to have a savings account with them first. After you establish your savings account you can open your CD easily online by transferring funds from your checking account to your new CD. To visit their site click here.
The minimum deposit is $1,000 and the early withdrawal penalty is 180 days’ interest. There’s a 10 day grace period at maturity.
Dollar Savings Direct is a branch of Emigrant Bank which has a very weak 1 out of 5 star soundness rating from bankrate. If you plan on opening an account with them I highly recommend you stay under the FDIC insured limit of $250,000.
Category: CD Rates