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

California Coast Credit Union Adds 5-Month CD, 9.00% APY ($3k Max)
Deal Summary: 5-month Celebration Certificate, 9.00% APY, $500 min/$3k max deposit, new money.

Availability: Easy membership requirement

California Coast Credit Union (Cal Coast) is celebrating its 90 years of service. As part of its year-long Anniversary Celebration, Cal Coast is offering a 5-month Celebration Certificate, which earns an eye-catching 9.00% APY.

There is a limit of one Celebration Certificate per member, excluding business and IRA accounts. New money is required, with a minimum opening deposit of $500. Maximum opening deposit is $3k. CSR confirmed that funding the Celebration...

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Ally Bank Offers Another Select CD (15-Month, 2.80% APY)
Deal Summary: Select CD, 2.80% APY, 15-month term, no minimum balance.

Availability: Internet Bank

Ally Bank is again offering a Select CD which features a limited-time promotional rate and term (2.80% APY 15-month). This is a small downgrade from Ally’s last Select CD that ended in February (2.85%, 14-month). The new Select CD rate is just 5 bps above the current rate of Ally’s 12-month High Yield CD. Also, it’s higher than all other Ally CD rates, except for the High Yield 5-year CD.

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WebBank's 1-Year CD Earns 2.86% APY
Deal Summary: Time Deposits (CDs) – 6-month (2.46% APY), 1-year (2.86% APY), 2-year (3.00% APY), 3-year (3.10% APY), and 5-year (3.20% APY), $2.5k minimum deposit.

Availability: Nationwide (internet bank)

As promised in yesterday’s WebBank’s High-Yield Savings Account (2.40% APY) blog post, here’s a look at their Time Deposits (CDs). After more than 20 years as a “behind-the-scenes” player in the loan industry, WebBank began to offering several CDs on a nationwide basis late last year. The minimum opening deposit for any of the CDs is $2.5k.

...
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Bank of Franklin County (MO) Has 20-Month CD Special, 3.04% APY
Availability: 20-month CD Special, 3.04% APY ($50k+) and 40-month CD Special, 3.30% APY ($50k+), 3.14% APY ($500+).

Availability: Market area includes three eastern Missouri counties.

For a limited time, the Bank of Franklin County (BFC) is offering two CD Specials, with very competitive rates for deposits of $50k and above.

Both CD Specials are available as IRAs (Traditional and Roth), earning the same APYs with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for the 20-month CD Special is six months interest and nine months...

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WebBank Offers 2.40% APY On Its Nationally Available Savings Account
Deal Summary: High-Yield Savings Account, 2.40% APY, $1k minimum deposit and balance.

Availability: Nationwide (internet bank)

The name WebBank might sound like just another internet bank that’s recently popped up on the banking horizon, but this Utah-based institution opened its doors in 1997. WebBank had been a “behind-the-scenes” player in the loan industry for more than 20 years, when they began to offer an online savings account and several CDs late last year.

There will be a separate blog post about the CDs on Monday, but here’s...

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CoVantage Credit Union (WI/MI) 17-Month CD Special Earns 3.00% APY
Deal Summary: 17-month Certificate Special, 3.00% APY, $5k minimum deposit

Availability: Residents of 22 northeast Wisconsin counties and three Michigan Upper Peninsula counties.

Four months ago, CoVantage Credit Union’s (CoVantage) 17-month Certificate Special was a regional rate leader, with an APY of 3.25%. The rate was lowered to 3.00% APY in January, but with the recent trend of dropping rates, that 3.00% APY currently qualifies as a regional rate leader. While the majority of CoVantage Certificates can be opened with a $1k minimum deposit, the 17-month Certificate Special requires...

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Mountain America Credit Union Lowering Rates Tomorrow
Deal Summary: Some Term Deposit rates will be lowered on March 22, 2019.

Availability: Easy membership requirement

I was notified this morning that Mountain America Credit Union (MACU) will be lowering the rates on some of its Term Deposits (MACU’s version of CDs) tomorrow. The Term Deposits affected by the rate changes are:

Lowered APYCurrent APYTerm Deposit Length
2.75% APY3.25% APY24-Month Term (Regular, IRA, Roth, Plus)
3.00% APY3.51% APY24-Month Term (Youth)
2.80% APY3.00% APY30-Month Term (Regular, IRA, Roth, Plus)
2.90% APY3.51% APY30-Month Term (Youth)
2.90% APY3.35% APY36-Month Term (Regular, IRA, Roth, Plus)
3.15%...
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Fed's Pause Has Begun - Rate Predictions & CD Strategies for 2019
Fed's Pause Has Begun - Rate Predictions & CD Strategies for 2019

There were no surprises yesterday when the Fed made its post-meeting statement. The federal funds rate remained the same, and the same patience language was used to describe the Fed’s future plans:

One thing that did change in the statement from January was the description of the current economic condition. There were clear downgrades in its view of the economy:

In January, the Fed’s statement included these positive views:

Yesterday’s statement changed the above lines to the following:

This policy action was an unanimous decision with no policymaker dissenting.

In addition to the statement,...

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USF Federal Credit Union Offers 18-Month CD Special, 3.10% APY
Deal Summary: 19-month CD Special, 3.10% APY, $1k minimum deposit, new money, available through March 31, 2019.

Availability: Easy membership requirement.

Now through March 31, 2019, USF Federal Credit Union (USF FCU) is offering a 19-month CD Special, which earns 3.10% APY. The minimum deposit is $1k of new money, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty (EWP) for the 2-year CD applies to the 19-month CD Special, with partial withdrawals allowed. As stated in the Truth-in-Savings disclosure (part of the online application),...

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EFCU Financial 48-Month CD Earns Up To 3.50% APY
Deal Summary: 48-month CD – 3.40% APY ($500) and 3.50% ($100k). 48-month IRA – 3.50% APY ($500) and 3.60% ($100k).

Availability: Residents of nine Louisiana parishes (Baton Rouge area).

The original intent for this EFCU Financial (EFCU) blog post was to highlight the 48-month CD, which earns 3.40% APY ($500 min) or 3.50% APY ($100k min). All of EFCU’s CDs offer tiered APYs, with Jumbo CDs ($100k min) earning an extra 10 bps.

When I took a closer look at EFCU’s rate sheet, I...

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Colorado Federal Savings Bank Boosts 12-Month CD Rate (2.86% APY)
Deal Summary: 12-month CD (2.86% APY), $5k minimum deposit

Availability: Nationwide (internet bank)

Colorado Federal Savings Bank (CFSB) added 35 bps to its 12-month CD (2.86% APY) yesterday. This latest rate increase puts the 12-month just shy of being the top-rated nationally available 1-year CD (minimum deposits of $10k or less). The 12-month CD can be opened with a $5k minimum deposit, with no stated balance cap.

A total of 116 bps have been added to the 12-month CD in the past year in five rate...

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Best Bank Account Interest Rates - Summary For March 19, 2019
Best Bank Account Interest Rates - Summary For March 19, 2019

With the Fed anticipated to hold steady on rates for the next several months, internet banks have started to slow down their rate hikes of their savings and money market accounts. In the last two weeks, there were a couple of new promotional accounts with higher rates and a few rate increases, but there were no new ones with yields exceeding 2.50%. Below are the noteworthy savings, money market and checking account rate changes that have occurred in the last two weeks:

  • Customers Bank High-Yield Savings (new, 2.50% APY, $25k min)
  • MemoryBank...
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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.