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.
Availability: Residents of 16 northeast Iowa counties, four northwest Illinois counties, and one southwest Wisconsin county.
Iowa-based DuTrac Community Credit Union (DuTrac CCU) is currently offering a 12-month Jumbo Certificate Special, which earns 2.35% APY. The minimum opening deposit is $100k, with no stated balance cap. There’s also a 12-month Certificate Special (2.10% APY) that only requires a $1k minimum deposit.
Both the Certificate Special and the Jumbo Certificate Special are also available as IRAs...
Availability: Residents of Harris County and portions of Waller County, Texas.
Cy-Fair Federal Credit Union’s (Cy-Fair FCU) 12-month Share Certificate currently offers 2.35% APY ($25k minimum) and 1.95% APY ($2.5k minimum).
DA has been tracking the 12-month Share Certificate for more than eight years. For the vast majority of that time, the APYs were almost unbelievably low, ranging between 0.50% and 0.08%. In April of this year, 219 bps were added, followed by another 8...
POSTED ON THURSDAY, DECEMBER 12, 2019 BY KEN TUMIN
Deal Summary: 18-month Certificate Special, up to 2.90% APY.
Availability: Residents of nine Central/Northern New York counties.
With the recent addition of a new 18-month Certificate Special (earning up to 2.90% APY), AmeriCU is continuing to offer competitive rates. The minimum opening deposit is $1k, with no stated balance cap.
Like all AmeriCU’s certificates, the 18-month Certificate Special offers tiered APYs, which are determined using the MemberPlus levels (Core, Flex/Connect, Connect Plus, and Partner). Each level adds approximately five basis points per level.
POSTED ON WEDNESDAY, DECEMBER 11, 2019 BY KEN TUMIN
The Fed decided today to hold rates steady. The target range of the federal funds rate remains at 1.50% to 1.75%. The following is an excerpt of today’s FOMC statement with the all important rate description:
All of the FOMC voting members voted for today’s policy action. Unlike the last four meetings, no one dissented.
Summary of Economic Projections
In addition to the statement, the Fed released an updated summary of economic projections (SEP). In the first table of this summary, you can see the Fed’s economic projections for future years and...
POSTED ON WEDNESDAY, DECEMBER 11, 2019 BY KEN TUMIN
Deal Summary: Jumbo CD Specials ($100k min) – 12-month (2.20% APY) and 21-month (2.25% APY).
Availability: Easy membership requirement through Dwolla; residents of all 99 Iowa counties and six southeast Nebraska counties.
As I doing research for this blog post, I was surprised to discover it’s been more than year since I last wrote about Veridian Credit Union (Veridian). The occasion for this blog post is the recent addition of two Jumbo CD Specials – 12-month (2.20% APY) and 21-month (2.25% APY). The minimum opening deposit is $100k,...
Availability: Nationwide, but a military relationship required for membership.
In the past, I’ve written a couple “good news Monday” blog posts about Navy Federal Credit Union (Navy Fed). The latest good news Monday offering is a 37-month IRA/ESA Certificate Special, earning 3.00% APY. This limited-time Special can be opened with as little at $50 and is capped at $150k. Additional deposits are allowed throughout the term, subject to the $150k...
Rate cuts on the top savings and money market accounts are still widespread. However, the number of rate cuts has gone down from two weeks ago. If the Fed holds rates steady tomorrow, the number of rate cuts should keep trending down, and within a month or two, the widespread cuts should come to an end.
Below are the noteworthy savings and money market account rate changes that have occurred in the last two weeks (All percentages are APYs):
The Fed’s two-day meeting started today. The meeting announcement is scheduled for 2:00 PM ET Wednesday. Along with the announcement, the Fed will be releasing its quarterly Summary of Economic Projections (SEP), which includes the “dot plot” that shows FOMC participants’ expectations of the future federal funds target rate. Following these releases, a press briefing by Fed Chair Jerome Powell will take place. It appears very likely that the Fed will hold rates steady.
The November jobs report that was released last Friday was much stronger than what analysts had predicted....
Deal Summary: 9-, 14-, and 18-month CD Specials, 2.40% APY, $500 minimum deposit of new money.
Availability: Residents of Dutchess, Orange, and Ulster Counties, New York.
For a limited time, TEG Federal Credit Union (TEG FCU) is offering 2.40% APY on three short-term CD Specials, giving members “savings like snow other.” The minimum opening deposit is $500 of new money, with no stated balance cap.
Earned dividends can either be reinvested or deposited into a share account.
UPDATE 12/10/19: The 24-month CD rate fell back to 2.10% APY.
Deal Summary: 24-month CD, 2.25% APY, $25k minimum/$250k maximum deposit
Availability: Nationwide (internet bank)
At the end of last week, Utah-based Merrick Bank added 15 bps to its 24-month CD, increasing the APY to 2.25% APY. While not an outstanding rate, it is significant because it's the first nationally available CD rate increase in several weeks. The minimum opening deposit for any Merrick Bank CD is $25k, with a $250k balance cap. Any interest accrued...
Availability: Personal Money Market, 2.20% APY ($100k+), 2.10% APY ($5k+), 1.85% APY (up to $5k), $500 minimum opening deposit.
Availability: Nationwide through online application.
For just over a year, New York-based Quontic Bank’s Personal Money Market rates have been very competitive. Rates started to fall in September, but the cuts have been smaller than most online savings and money market accounts. The Personal Money Market account is currently offering 2.20% APY on balances of $100k+. The other tiered APYs include 2.10% ($5k-$100k) and 1.85% (up to $5k).
Deal Summary: 25-month CD Special, 2.50% APY, $25k minimum deposit.
Availability: Primary market area includes the Indiana counties of Hamilton and Howard, but any Indiana resident who can come into a branch may apply.
Community First Bank of Indiana (CFB) began the month by adding two new CD Specials to the product line and raising the rates on four existing CD Specials. Of the six CD Specials, the new 25-month has the most competitive rate – 2.50% APY.
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.