About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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ConnectOne Bank's Nationally Available 48-Month CD Earns 2.53% APY
Deal Summary: 48-month Personal CD (2.53% APY), 60-month Personal CD (2.63% APY), $500 minimum deposit

Availability: Nationwide

Over the weekend, ConnectOne Bank raised the rates on its nationally available long terms CDs. Of those four CDs, the 48-month Personal CD (2.53% APY) and 60-month Personal CD (2.63% APY) are the most competitive. The minimum opening deposit is $500, with no stated balance cap.

Both the 48- and 60-month Personal CDs were added to the product line in April. With two rate increases in the past six...

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RCB Bank (OK/KS) Offers 3.00% APY 60-Month CD
Deal Summary: 60-month CD, 3.00% APY, $1k minimum deposit

Availability: Market area includes northeast Oklahoma and eastern Kansas.

As of this morning, there are more than 4,000 5-year CDs offered by banks and credit unions throughout the country. Oklahoma-based RCB Bank has one of the two that currently earn 3.00% APY. RCB Bank’s 60-month CD can be opened with a $1k minimum deposit and there is no stated balance cap.

In the past month, the 60-month CD had two rate increases, adding a total of 170...

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InTouch Credit Union Ups 15-Month Jumbo CD, 2.25% APY
Deal Summary: 15-month Jumbo Certificate, 2.25% APY ($95k), 15-month Certificate, 2.00% APY ($1k)

Availability: Residents who live within 10-15 miles of branches located in Dallas-Fort Worth area, Las Vegas, northern Detroit suburbs, northern Virginia, and Memphis; several SEGs, including EDS and Dr. Pepper Snapple.

Texas-based InTouch Credit Union (ITCU) is currently offering a 15-month Jumbo Certificate that earns 2.25% APY on deposits of $95k+. The “non-Jumbo” version earns 2.00% APY, with a minimum $1k deposit.

The 15-month Certificates were added to the product line about...

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Ally Bank Hikes Rates - Savings Account, Money Market and Several CDs
Deal Summary: Two of several rate increases include: Online Savings Account, 1.35% APY, No minimum balance; 12-month CD, 1.85% APY ($25k+)

Availability: Nationwide (internet bank)

This morning, Ally Bank increased the rates of the Online Savings Account, Money Market Account and several of its CDs. Unfortunately, not everything went up. The 11-month No Penalty CD had a rate reduction. Below is a summary of how the APYs have changed:

  • Savings Account - 1.35% (was 1.25%)
  • NP 11-Mo CD - 1.50%, $25k+ (was...
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First Internet Bank Increases All CD Rates
Deal Summary: 12-month CD (1.87% APY), 18-month CD (1.97% APY), $1k minimum deposit

Availability: Nationwide (internet bank)

First Internet Bank (First IB) has ended the week by raising the rates on all its CDs, with increases between 5 and 16 bps. While none of the new rates are really “wow-worthy,” the 12-month CD (1.87% APY) and 18-month CD (1.97% APY) are nonetheless competitive. In the past year, the 12-month CD has gained 71 bps in twelve rate increases, with the 18-month CD gaining 66 bps in ten rate...

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VirtualBank Leads With 12Mo eCD (2.11% APY) And 24Mo eCD (2.33% APY)
Deal Summary: 12-month eCD (2.11% APY), 24-month eCD (2.33% APY), $10k minimum deposit.

Availability: Internet bank

VirtualBank, an internet division of IBERIABANK, has just become a leader in the rates race by raising the rates on its 12-month eCD (2.11% APY) and 24-month eCD (2.33% APY). The minimum opening deposit for any VirtualBank eCD is $10k, with no stated balance cap.

In the months following IBERIABANK’s August 2017 acquisition of VirtualBank, there was little rate activity for the eCDs. That changed yesterday when the 12- and...

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Nationwide Bank Hikes Rates - Money Market Account and 24-Month CD
Deal Summary: Money Market Account, 1.45% APY ($10k+), 1.15% APY (below $10k); 24-month CD, 2.05% APY ($100k+), 2.00% APY ($500+)

Availability: Nationwide (internet bank)

This has been another active day of rate increases at internet banks with Nationwide Bank being the latest to boost rates. The new rates are below the rate leaders, but a couple are competitive. The most competitive is the Money Market account. Its top-tier rate increased 5 bps to 1.45% APY. This applies to all balances of $10k+; balances below $10k earn 1.15% APY.

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M.Y. Safra Bank Increases Online Promo CD Rates
Deal Summary: Online Promo CDs – 12-month (1.90% APY), 18-month (2.06% APY), 24-month (2.02% APY), 36-month (2.32% APY), $5k min deposit, new money.

Availability: Nationwide

Ten months ago, M.Y. Safra Bank unveiled its new Online CD Specials, as part of the Bank’s venture into internet banking. Re-branded as “Online Promo CDs,” they continue to offer competitive rates, while still requiring a minimum opening deposit of $5k of new money. M.Y. Safra Bank raised the rates on four of the Online Promo CDs today, with...

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Spokane Teachers CU (WA/ID) Boosts Rate on 48-60 Month CD (2.53% APY)
Deal Summary: 48-60 month Certificate, 2.53% APY ($25k), 2.27% APY ($10k), 2.02% APY ($2k).

Availability: Residents of Washington State and eight northern Idaho counties.

Spokane Teachers Credit Union (STCU) raised the rate on its 48-60 month Certificate yesterday, with the top balance tier ($25k) now earning 2.53% APY. The tiered APYs are new to STCU and specifically apply to the 48-60 month Certificate. The other rate tiers are 2.27% APY ($10k), 2.02% APY ($2k), and 0.25% APY ($500).

The 48-60 month Certificate is also offered as...

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Discover Bank Increases Rates - Savings Account, Money Market and CDs
Deal Summary: Rate increases: Online Savings Account, 1.40% APY, No minimum balance: Money Market, 1.30% APY $100k+, 1.25% under $100k

Availability: Internet Bank

Discover Bank is the third internet bank to increase rates today, but unlike the other two, the new rates aren’t high enough to give Discover a rate leader status. Nevertheless, the new rates do keep Discover competitive with the other large internet banks, and hopefully, they will encourage other internet banks to follow.

Most noteworthy is Discover’s rate increase of its Online Saving Account....

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Popular Direct Ups Long-Term CD Rates And Adds New Savings Account
Deal Summary: Popular Direct CDs – 4-year (2.50% APY), 5-year (2.65% APY), $10k minimum deposit. Exclusive Savings Account, 1.50% APY, $5k minimum opening deposit.

Availability: Nationwide (internet bank)

During the past year, Popular Direct has been quite prolific, producing a series of competitive short-term CD rates. The Bank’s rising rates have resulted in seven separate blog posts from me, and as many Forum posts by DA readers. While rates went up again today, this time it’s the long-term CDs turn: 4-year (2.50% APY) and 5-year...

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Live Oak Bank Ups Rates: 1-Year CD at 2.10% APY, Savings at 1.60% APY
Deal Summary: CDs - 1-year (2.10% APY), 18-month (2.20% APY), 2-year (2.30% APY), 3-year (2.35% APY), $2.5k min/$250k max per account. Savings Account, 1.60% APY, $5m maximum deposit.

Availability: Nationwide (internet bank)

A week ago, Live Oak Bank (Live Oak) made DA news when its 1-year CD reached 2.00% APY . Seven days later, Live Oak is again grabbing DA headlines by increasing the rates (10-20 bps) on all its CDs. Any of the CDs can be opened with a $2.5k minimum deposit, and “the maximum is...

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