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

Salem Five Direct Boosts eOne Savings Rate To Two-Year High
Deal Summary: eOne Savings, 1.01% APY, $100 minimum opening deposit, $1 million maximum, new eOne Savings customers with some exceptions.

Availability: Nationwide (online bank)

For the first time in about three years, Massachusetts-based Salem Five Direct has increased the rate on its eOne Savings account. The eOne Savings account now earns 1.01% APY on all balances up to $1 million (balances over $1 million will be transferred to a Statement Savings Account that earns 0.01% APY). The addition of 61 bps has put the eOne Savings account near...

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Scient Federal Credit Union Adds 3 Competitive CD Specials
Deal Summary: Share Certificate Specials – 9-month, 1.25% APY, $1k min/$25k max deposit; 11-month, 1.75% APY, $1k min/$100k max deposit; and 36-month Bump-Up, 2.00% APY, $1k min/$100k max deposit; new and/or existing money.

Availability: Easy membership requirement for residents of Connecticut, Massachusetts, New York, and Rhode Island; 90+ SEGs, including Pfizer.

Spring is here and Scient Federal Credit Union (Scient) wants to “help your wealth bloom with our Share Certificate Specials” (SCS). There is a limit of one SCS per Social Security number. Although no end-date is specified...

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Update on SaveBetter - Liberty Savings Bank Offers Top Savings Account Rate
Deal Summary: High Yield Savings Account (1.06% APY), $1 minimum balance.

Availability: Nationwide

In the last six weeks, I’ve been reviewing the latest competitive money market and CD deals from the deposit platform, SaveBetter (SaveBetter.com). Last week, one of SaveBetter’s partner banks, Liberty Savings Bank, FSB, increased the rate of its High Yield Savings Account (HYSA) by 50 bps to 1.06% APY. This is now the highest liquid account rate at SaveBetter, and it’s one of the highest online savings account rates in the nation.

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CFG Bank High Yield Money Market Is New Rate Leader
Deal Summary: Online CFG High Yield Money Market, 1.02% APY ($1k+), new money. 13-month Penalty Free CD, 1.07% APY, $500 min/$250k max deposit, one penalty-free withdrawal.

Availability: Nationwide through online application

As DA reader, midas89, noted in a Forum post last week, CFG Bank’s (CFG) nationally available High Yield Money Market (HYMM) had a rate increase of 20 bps. It currently earns 1.02% APY on balances of $1k and above. The minimum opening deposit is $1k and new money is required.

A Little History

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USALLIANCE Financial Boosts High Dividend Savings Rate
Deal Summary: High Dividend Savings, 1.00% APY on balances of $500 and above.

Availability: Easy membership requirement.

More than three years ago, New York-based USALLIANCE Financial (USALLIANCE) introduced the High Dividend Savings (HDS) account with an initial 2.30% APY. The HDS offered a competitive rate for about seven months before the APY began dropping. Between March 2020 and February 2022, the APY was anything but competitive. A recent increase of 35 bps boosted the rate to 1.00% APY, once again putting the HDS in good company....

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Ally Bank Hikes CD Rates Again, 20-Month Select CD Rises to New High
Deal Summary: Ally Bank CD rate increases - Noteworthy ones include 20-month Select CD (2.00% APY) and 9-month High Yield CD (1.00% APY), no minimum balance.

Availability: Nationwide (online bank)

This has been a busy week at Ally Bank. On Wednesday, Ally Bank finally increased the rate of its Online Savings Account. It was just a 10-bp rate hike that increased the rate to 0.60%, but it finally moved the rate above the rate bottom that the account had been stuck at since December 2020. Ally Bank’s Money Market also...

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State Bank of Texas Has Competitive 12-Month CD and Jumbo Money Market
Deal Summary: 12-month, 1.85% APY, $25k min/$250k max deposit. Jumbo Money Market, 1.15% APY, $100k min balance.

Availability: Nationwide

Five months ago, State Bank of Texas (SBT) brought back its nationally available, limited-time 12-month CD earning 0.85% APY. The 12-month CD is again available with a highly improved 1.85% APY. The minimum opening deposit is $25k, and there is a cap of $250k.

According to CSR, the Early Withdrawal Penalty for the 12-month CD is a very mild 30 days of interest....

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KS StateBank Pushes All CD and Jumbo CD Rates Upward
Deal Summary: CDs ($500 min) and Online Jumbo CD Specials ($100k min) – 1-year (2.00% APY), 18-month (2.30% APY), 2-year (2.60% APY), 3-year (2.85% APY), 4-year (2.90% APY), and 5-year (3.00% APY).

Availability: Nationwide

This is the fourth blog post about the KS StateBank CDs since mid-February. While all of the KS StateBank nationally available CDs have experienced significant rate increases in the past three months, the longer-term CDs have had dramatic increases of between 110-125 bps during the same...

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Cobalt Credit Union (IA/NE) Offers Competitive 18-Month CD Rates
Deal Summary: 18-Month Term Share Certificate, 2.00% APY ($100k min), 1.90% APY ($1k min).

Availability: Six eastern Nebraska counties (greater Omaha area) and nine western Iowa counties.

Nebraska-based Cobalt Credit Union (the former SAC Federal Credit Union) is currently offering a competitive 2.00% APY ($100k minimum) and 1.90% APY ($1k minimum) on its 18-Month Term Share Certificate (TSC). Since mid-February, the 18-month TSC has had four rates increases, adding a total of 145 bps.

The 18-month TSC is also available as an IRA...

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CoVantage Credit Union Adds Competitive 11-Month Certificate Special
Deal Summary: 11-month Certificate Special, 2.00% APY, $1k minimum deposit.

Availability: Residents of 30 northeast Wisconsin counties and three Michigan Upper Peninsula counties.

Last month, CoVantage Credit Union (CoVantage) offered a 34-month Certificate Special earning a competitive 2.00% APY. CoVantage is again offering a CD Special with a 2.00% APY, but this time the term is 11 months. The minimum opening deposit is $1k, with no stated balance cap.

The 11-month Certificate Special is also available as an IRA (Traditional, Roth, and CESA), earning the same APY with...

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Crescent Bank Now Offers Very Competitive CDs Nationwide
UPDATE 5/13/2022: Crescent Bank CD rates have dropped.

Deal Summary: Online CDs – 12-month (2.10% 1.75% APY), 18-month (2.30% 2.00% APY), 24-month (2.50% 2.20% APY), 36-month (2.90% 2.30% APY), 48-month (3.00% 2.50% APY), 60-month (3.10% 2.75% APY), $1k minimum deposit of new money, rates may change on May 13, 2022.

Availability: Nationwide (online application)

It’s been four years since I last wrote about Crescent Bank. At that time, the product line (including CDs) was offered exclusively to Louisiana residents. As I was doing preliminary work for this week’s...

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CD Rates Summary
CD Rates Summary

As today’s April CPI numbers show, inflation continues to run hot. The numbers today exceeded forecasts, and adds to the concerns that the Fed won’t be able to pull inflation back to normal levels. The Fed’s rate hikes have been impacting CD rates, but CD rates are still well below the inflation rate. Also, with many more Fed rate hikes likely, it’s hard to find CDs attractive. For balances under $10k, the Series I Savings Bond is clearly superior since it’s indexed with inflation. The May I bond interest rate...

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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.