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Ken Tumin

Joined: Nov 29, 2009Comments: 386
Forum Threads: 4812Forum Posts: 5442
Ken Tumin

I started the BankDeals blog which eventually evolved into DepositAccounts.com as a hobby to help people find the best deals at banks and credit unions. My deals come from US banks and credit unions, both online and brick-and-mortar. Internet banks are creating more competition and better rates, but sometimes the best deals are local.

In addition to reports on deals, I also describe my experiences on opening accounts and dealing with the banks. Plus, I try to keep everyone updated on the important banking news relevant to savers.

I am NOT affiliated with any banks or institutions. I'm just another web surfer like you. My posts are based on what I find on institutions' websites, what they advertise and what the banks' customer service reps tell me. I also receive valuable help from readers who inform me of new rates and deals. Comments and emails are much appreciated.

Check with the institution for the latest and official information. Rates change very fast, and so the only official information is directly from the bank or credit union. I keep old posts with old rates for history's sake. A bank's rate history can be an important factor to consider. All posts are dated so you can see if the post may be out-of-date.  You may contact me at ken depositaccounts.com.

Recent Blog Posts


Higher 2-Year CD Rate at Salem Five Direct
Salem Five Direct

Salem Five Direct has recently increased the rate of its 2-year CD special (what it calls eCD) to a competitive level. It has a 1.25% APY with a minimum deposit of $10,000. Maximum deposit amount is $500,000, and only personal accounts are allowed. This new eCD rate is listed in the Salem Five Direct eCD page as of 4/23/2014.

Salem Five Direct continues to offer two other competitive eCDs. These are a 1.00% APY 1-year CD and a 2.00% APY 5-year CD. I reviewed them in 2013.

Salem Five Direct also...

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Competitive 7-Year CD Rate at Financial Center FCU in Indiana
Financial Center Federal Credit Union

Financial Center Federal Credit Union is offering a very competitive rate on its 7-year certificate. It has a 2.50% APY with a minimum deposit of $500. There is one downside. The CD has a harsh early withdrawal penalty of 730 days dividends. This rate, minimum deposit and early withdrawal penalty are listed in the credit union’s rates page as of 4/22/2014. It’s nice to see the early withdrawal penalty clearly disclosed in the rates page. That isn’t common for banks and credit unions.

Eligibility

The credit union’s field of membership expanded...

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New Reward Checking Account at Flanagan State Bank
Flanagan State Bank

Flanagan State Bank has started to offer a high-interest reward checking account under the Kasasa brand. The account is called Kasasa Cash. Like many of the new reward checking accounts, its balance cap is disappointing. Nevertheless, it’s always nice to see a new reward checking account. The bank also offers a savings account, called Kasasa Saver, that links to this checking account. Below is an overview of these accounts. Flanagan State Bank currently doesn’t list these accounts on its website. However, they’re listed at this Kasasa.com page with the following...

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Best Bank Account Interest Rates - Summary for Week Ending April 20, 2014
Best Bank Account Interest Rates - Summary for Week Ending April 20, 2014

Last week was another case of hopes dashed for savers thinking that interest rates might rise a little sooner than had been anticipated. Fed Chairwoman Janet Yellen strongly suggested in a speech last week that the Fed is prepared to keep rates low for a long time to support economic growth. It’s another sign of how slow the economy is recovering from the 2008 financial crisis. As described in this WSJ article:

That WSJ article mentioned a few possible explanations for this slow recovery, and the one which was most worrisome...

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Survey of the Best CD Rates for April 19, 2014
Survey of the Best CD Rates for April 19, 2014

Treasury yields increased this week due to economic data that was better than expected. However, Fed Chairwoman Janet Yellen continues to suggest that interest rates will stay low for a long time. This was mentioned in a Wednesday speech, her second speech since she took over as Fed chair.

There weren’t many CD rate changes this week. EverBank 5-year CD yield fell by 4 basis points to 2.20%. Bank5 Connect’s 6-month CD rate fell by 5 basis points to 0.85%.

On the positive side, Nationwide Bank’s 4-year Jumbo CD yield increased by...

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Recent Forum Posts


DISCUSSIONS
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Ken Tumin - BMO Harris Bank
1 Post(s)
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1 Post(s)
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Featured: Wells Fargo’s $100 Checking Account Bonus - May Be Targeted
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1 Post(s)
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Featured: St. Patrick's Day Promotions At Credit Unions
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Rewards Checking Rate Cut Announced At UICCU
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Posting Comments
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