DollarSavingsDirect Launches 3.75% APY Online Savings Account

08.25.08 | Online Savings Accounts | 1 Comment | by junger

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There's a new online savings account competing for your money — the Dollar Savings Account from New York-based Emigrant Savings Bank — offering a 3.75% APY.

Available at DollarSavingsDirect.com, the account requires a $1,000 minimum for the 3.75% rates. All accounts under $1,000 get a 1% APY, according to CNN Money.

Emigrant Savings Bank also offers EmigrantDirect, an online savings account offering a 3% APY.

We're not quite sure what exactly the difference between the two accounts are — besides the obvious interest rate.

With a 3.75% APY, the Dollar Savings Account is the highest-yielding free online savings account, tied with WaMu.

HSBC, FNBO, and WTDirect follow behind them.

It doesn't look like the rate is temporary, so it'll be interesting to see how long it lasts.

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