Home Interest rate Dollar Bank Raises Savings Interest Rates

Dollar Bank Raises Savings Interest Rates


PITTSBURGH, Pa., October 3, 2022 /PRNewswire/ — Dollar Bank today announced that it has raised the rate of our Any savings account to 2.00% Annual Percentage Yield (APY), while increasing rates on all deposit accounts.

“We believe our customers should be able to get additional value from a community bank with offices where they live and work,” said Jim McQuade, President and CEO of Dollar Bank. “Our mission is to provide exceptional value to our customers and the local communities we serve, enhancing their financial success.”

dollar bank All savings Account has historically provided rates higher than the national average savings account and by increasing the rate to 2.00% APY, a return greater than 11 times that average (as reported by the FDIC). The Any savings account aims to give all customers the opportunity to benefit from a higher interest rate, up to $20,000, not just higher balances. We have also raised our Premier Savings Account 1.25% (APY) for balances greater than $20,000.

Dollar Bank also raised deposit rates on checking accounts and certificates of deposit. Professional customers can benefit from increased rates on our Business Relationship Savings Account who now earn 1.50% up to $50,000.

“Our mutual structure gives us the opportunity to be different and customer-focused. We had this singular goal in mind when we moved forward with the rate increases on all of our deposit products. With our savings rates in rise, now is a rewarding time for our saving customers.” McQuade said.

Existing customers will immediately see rates increase on their accounts, while potential new customers can take advantage of new rate increases by visiting Dollar.Bank/savings or a local branch.

About Dollar Bank

Dollar Bank has assets of over $11.5 billion. Today, Dollar Bank operates over 90 locations across Pennsylvania, Ohio, Virginiaand Maryland with more than 1,400 employees. For more than 167 years, Dollar Bank has been the largest mutual bank in United States, committed to providing the highest quality of banking services to individuals and businesses. Dedicated to helping the communities it serves, Dollar Bank supports quality of life initiatives, financial literacy programs, and organizations dedicated to helping individuals and families in need. Dollar Bank (www.dollar.bank) has its headquarters at Pittsburgh, Pennsylvania.

CONTACT: Frank BuonomoVice President, Public Affairs
[email protected]

SOURCE Dollar Bank