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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Bank Deals Blog

CFG Bank Hikes Rates of Money Market and 13-Month Penalty Free CD
Deal Summary: High Yield Money Market, 1.65% APY, $1k+, new money. 13-month Penalty Free CD, 1.70% APY, $500 min/$250k max deposit, one penalty-free withdrawal.

Availability: Nationwide through online application

As DA reader, thowellIII, noted in a Forum post yesterday, Maryland-based CFG Bank (CFG) added 35 bps to both the High Yield Money Market and 13-month Penalty Free CD.

High Yield Money Market

The nationally available High Yield Money Market (HYMM) currently earns 1.65% APY on balances of $1k and above. The minimum opening deposit is $1k...

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AgFed Credit Union Ups Rate of Limited-Time 18-Month Special CD
Deal Summary: 18-month Special Certificate, 2.60% APY, $250 min/$100k max deposit, new money. Asset Builder Certificates – 24-month (1.95% APY), 18-month (1.50% APY), 12-month (1.25% APY), $25 min opening deposit, unlimited additional deposits (no min) throughout the term.

Availability: Easy membership requirement.

For a limited time, AgFed Credit Union (AgFed) is offering an 18-month Special Certificate earning a very competitive 2.60% APY. This rate just recently increased from 2.30% to 2.60% APY (As of early July 1st, AgFed's website hasn't been completely updated with the new rate.) The...

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BrioDirect High-Yield Savings APY Tops Nationwide Rate Charts
Availability: High-Yield Savings, 1.80% APY, $25 minimum opening deposit.

Availability: Nationwide (internet bank)

In 2019, DA reader, redwilli1, asked “Has anyone heard of BrioDirect HYS?”

As of yesterday, I think anyone who read DA’s Liquid Rates Summary knows exactly what the BrioDirect High-Yield Savings (HYS) account is: the new leader of the nationally available savings/money market account rate peloton. Following a rate increase of 65 bps, the HYS currently earns 1.80% APY on all balances. Since mid-May, the HYS has gained 140 bps in three rate increases.

High-Yield Savings

  • 1.80%...
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5Point Credit Union (TX) Has Limited-Time 18-Month CD Special
Deal Summary: 18-month High Rate CD, 2.68% APY, $1k minimum deposit, new money only.

Availability: 16 Southeast Texas counties

For a limited time, 5Point Credit Union (5Point) is offering an 18-month High Rate CD earning 2.68% APY. The minimum opening deposit is $1k and new money is required. Star Saver account holders (members aged 0-12) can open a High Rate CD with a $100 minimum deposit.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

If the CD has not yet earned enough...

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Latest Liquid Bank Account Rates
Latest Liquid Bank Account Rates

Online banks continue to respond to the June 15th 75-bp Fed rate hike by increasing their online savings account rates. A few online banks have been aggressive with their rate hikes, but in most cases, the rate hikes have been relatively small.

As you can see below, several of the well-known online savings accounts have finally had their rates increased to 1%+ APY. We should see many more of these rate increases in July, especially since the Fed is widely expected to hike by at least 50 bps at its...

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Federal Reserve, the Economy and CD Rate Forecast - June 28, 2022
Federal Reserve, the Economy and CD Rate Forecast - June 28, 2022

Future interest rates will depend heavily on how inflation and the economy evolves this year. The Fed will want to see a series of declining inflation readings before it transitions to 25-bp rate hikes and then to no rate hikes. That won’t happen before its July 26-27 meeting. Another 75-bp rate hike is likely, and a rate hike of at least 50 bps is very likely.

If the economy is slowing, that could bring down inflation, and that may allow the Fed to transition to no rate hikes and eventually rate...

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CD Bank Substantially Increases All CD Rates
Deal Summary: CDs – 6-month (1.40% APY) and 9-month (1.75% APY), $100k min/$500k max deposit.

Availability: Nationwide (internet bank)

Dallas-based CD Bank hasn’t produced any really good CD rates for more than three years. The last blog post was in April 2019 when CD Bank was offering a 24-month CD earning 3.20% APY. A series of eight rate decreases began in May 2019, with all CD rates bottoming out in 2020. Those mediocre APYs remained in effect until yesterday, when CD Bank significantly raised all CD...

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Citadel (SE PA) Extends $300 Checking Account Bonus
Deal Summary: $300 bonus when opening a new checking account, total direct deposit of at least $500, available through December 31, 2022.

Availability: Residents of the Pennsylvania counties of Bucks, Chester, Delaware, Lancaster, Montgomery and Philadelphia.

Citadel has extended its $300 bonus for new checking customers who open a new Cashback Rewards Checking account or a Free Checking account through December 31, 2022.

As stated in the New Account Cash Bonus disclosure,

The $300 bonus is only available to new checking customers, defined as those who have not “closed a Citadel...

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Ally Bank Increases Rates of Online Savings Account and Five CDs
Deal Summary: Ally Bank CD rate increases - Online Savings Account (1.00% APY), 20-month Select CD (2.35% APY), 60-month High Yield CD (2.75% APY), no minimum balance.

Availability: Nationwide (online bank)

On Friday, Ally Bank increased the rate of its Online Savings account for the second time this month. The 10-bp rate hike increased the APY from 0.90% to 1.00%. For June, the APY has increased 25 bps. This follows 25 bps of rate increases in May. Before May 10th, the Ally Online Savings account rate was stuck at its...

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United Texas Bank Boosts Nationally Available 12-Month CD Rate
Availability: 12-month CD, 2.25% APY, $1k minimum.

Availability: Nationwide

Last week’s CD Rates Summary includes a competitive 1-year CD offered by United Texas Bank (UTB), a bank that hasn’t had any great rates for some time. With across-the-board CD rate increases of between 55 and 165 bps, the UTB 12-month CD (2.25% APY) offers the most competitive rate in the product line. Any UTB CD can be opened with a $1k minimum deposit and with no stated balance cap.

As stated on the Certificates of Deposit page, the...

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State Bank of Texas Nationally Available 12-Month CD Rate Upped Again
Deal Summary: 12-month, 2.25% APY, $25k min/$250k max deposit.

Availability: Nationwide

State Bank of Texas (SBT) brought back its nationally available 12-month CD in December 2021 earning 0.85% APY which, at the time, was a competitive rate. In the past seven months, there have been six rates increases, adding a total of 140 bps. Currently earning 2.25% APY, the 12-month CD can be opened with a $25k minimum deposit and is capped at $250k.

According to CSR, the Early Withdrawal Penalty for the 12-month...

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Capital One Has Rate-Leading 18-Month CD
Deal Summary: 18-month 360 CD, 2.50%, 360 Performance Savings account, 1.00% APY, no minimum deposit

Availability: Nationwide

Capital One did something that is rare. It increased a CD rate to a market-leading level. The rare event occurred on Thursday when Capital One increased the APY of its 18-month 360 CD from 1.50% to 2.50%. Capital One often has competitive rates on its CDs, but they are rarely top rates for online banks.

In 2021, the Capital One 360 18-month CD rate was stuck at 0.25%. That’s only one tenth...

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.