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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Patelco Credit Union (CA) Offers 2% APY on 3-Year CD

Deal Summary: 36-47 Month Share Certificate, 2.00% APY, $1k minimum deposit

Availability: Residents of ten Northern California counties and twelve named Northern California cities; employees/retirees of 1,100+ SEGs

At the end of last week, Patelco Credit Union (Patelo CU) significantly raised the rate on its 36-47 month Share Certificate (2.00% APY). The minimum opening deposit is $1k, with no stated balance cap. For the 36-47 month Share Certificate, members can choose any term from 36 to 47 months in one month increments.

Friday’s 65 basis point increase was the...

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The Evolution of the Bank Branch: Step Into My Parlor
The Evolution of the Bank Branch: Step Into My Parlor

There’s nothing like competition to spur creativity. Online banks, with their 24/7 convenience and often better rates, particularly on savings accounts, are giving brick and mortar banks a run for their money. It’s not surprising then, that banks are going the extra mile to lure folks into branches. Increasingly, banks are turning to innovations like café-style bank branches.

The bank becomes a place to “hang out”. Bring your laptop, Wi-Fi is free. Relax on the couch with a cup of joe. If you have money questions, an “associate” can...

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My e-BAnC Adds Super Saver (1.11% APY) & Ups 12-Month CD Rates

Deal Summary: Super Saver, 1.11% APY, no minimum or maximum deposit; 12-month Jumbo Time Deposit, 1.36% APY, $100k minimum deposit; 12-month Time Deposit, 1.35% APY, $1.5k minimum deposit.

Availability: Internet bank

Earlier this month, My e-BAnC by BAC Florida Bank raised the rates on its nationally available 12-month Jumbo Time Deposit (1.36% APY, $100k min) and 12-month Time Deposit (1.35% APY, $1.5k min).

Since being added to the product line in December 2013, both the 12-month Time Deposit and the 12-month Jumbo Time Deposit have experienced 15 rate changes,...

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Triangle Credit Union (NH/MA) Hikes 28-Month CD Special Rate

Deal Summary: 28-month CD Special, 1.70% APY, $1k minimum deposit

Availability: Residents of the New Hampshire counties of Belknap, Cheshire, Hillsborough, Merrimack, and Rockingham, and the Massachusetts counties of Essex, Franklin, Middlesex, and Worcester.

New Hampshire-based Triangle Credit Union (Triangle CU) is currently offering three CD Specials, but the 28-month CD Special (1.70% APY) is the only one which has a competitive rate. The minimum deposit is $1k, with no stated balance cap.

The 28-month CD Special was added to Triangle CU’s product line in late January 2016, with...

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Arbor Financial Credit Union (MI) Has "Lucky 7" 7-Month CD Special

Deal Summary: “Lucky 7” 7-month CD/IRA Special, 1.27% APY ($25k min), 1.07% APY ($500 min)

Availability: Residents of 21 southwest Michigan counties.

Arbor Financial Credit Union (Arbor Financial) has added a “Lucky 7” 7-month CD Special (1.27% APY, $25k min; 1.07% APY, $500 min).

The 7-month CD Special is also offered as an IRA (Traditional, Roth) earning the same tiered APYs, with the same funding requirements.

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

The penalty we may impose will equal...

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Earn Up To $300 In Bonuses At OceanFirst Bank (NJ)

Deal Summary: Simply Great checking bonuses, up to $300

Availability: Market area includes Atlantic, Cape May, Cumberland, Gloucester, Middlesex, Monmouth, and Ocean Counties, New Jersey.

For a limited time, OceanFirst Bank is offering up to $300 in bonuses when opening a new Simply Great checking account.

As described in OceanFirst Bank's promotion page, there are three different bonuses, each predicated on different activities.

  • $50 - Paid when opening a new Simply Great checking with an OceanFirst Visa® CheckCard.
  • $50 – Set up a recurring Direct Deposit (DD); 75 days after the DD has...
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First Internet Bank Boosts All CD Rates

Deal Summary: 48-month CD, 1.87% APY, $1k minimum deposit

Availability: Nationwide (internet bank)

First Internet Bank (First IB) raised the rates on most of its CDs yesterday. The new rates are some of the best APYs offered by internet banks. Of all the CDs, the 48-month (1.87% APY) is most competitive when compared to both brick-and-mortar banks and internet banks.

The minimum deposit for the 48-month CD is $1k, with no stated balance cap. It is also available as an IRA (Traditional, Roth, and CESA) earning...

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New Internet Bank, PurePoint Financial, Debuts Top National Rate

Deal Summary: 12-Month CD, 1.40% APY; $10k minimum deposit. Online Savings, 1.25% APY, $10k minimum.

Availability: Nationwide

When I have the occasion to write about a new bank, “new” usually means opened in the recent past; in the case of PurePoint Financial, “new” means yesterday, literally. PurePoint Financial is an online division of MUFG Union Bank, N.A. (Union Bank) which itself is a subsidiary of Mitsubishi UFJ Financial Group, a bank holding company which is the 5th largest financial group in the world with total assets of over...

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Primary Bank (NH) Has Limited Time 2- And 4-Year Choice CDs

Deal Summary: 4-Year Choice CD, 2.25% APY; 2-Year Choice CD, 1.50% APY; $10k minimum deposit

Availability: New Hampshire

For a limited time, Primary Bank is offering two special CDs: 2-year Choice CD (1.50% APY) and 4-year Choice CD (2.25% APY). The minimum deposit is $10k, with no stated balance cap. Of the two, the 4-year Choice CD is the more competitive.

According to CSR, the Early Withdrawal Penalty for the 2-year Choice CD is 12 months dividends and 15 months dividends for the 4-year Choice CD.


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Sandy Spring Bank (MD/VA) Ups 27-Month Premier CD Special Rate

Deal Summary: 27-month Premier CD Special, 1.70% APY, $10k minimum deposit, checking relationship required

Availability: Market area includes portions of Maryland and Northern Virginia.

Almost two years ago, I wrote about Sandy Spring Bank’s 27-month Premier CD Special. Since that time, the CD has experienced more than 25 rates changes, eleven of which were increases that occurred in the past six months. The latest rate increase happened yesterday, resulting in the highest rate in the CD’s history – 1.70% APY. The minimum deposit is $10k...

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Best Bank Account Interest Rates - Summary for February 21, 2017
Best Bank Account Interest Rates - Summary for February 21, 2017

Economic data released in the last week has slightly raised the chance of a Fed rate hike in March. Last Wednesday, the Labor Department released the Consumer Price Index for January. The CPI increased 0.6% last month which was much higher than the expected 0.3% increase. The core CPI increase also exceeded expectations (0.3% vs 0.2%). The retail sales report was also released last Wednesday, and the report showed that sales increased more than expected in January. This gives the Fed some justification to raise rates at its next FOMC...

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Greater Iowa Credit Union Has New 22-Month CD Special

UPDATE 2/21/2017: Greater Iowa Credit Union may have an Easy Membership Requirement. Details in the Availability Section below.

Deal Summary: 22-month CD Special, 1.81% APY, $1k minimum

Availability: Residents of 33 Iowa counties; several SEGs; members of previously merged credit unions; military relationship.

Greater Iowa Credit Union (GICU) has been quite prolific with its CD Specials, which change on a monthly basis. One of this month’s offerings is a 22-month CD Special (1.81% APY). The minimum opening deposit is $1k, with no stated balance...

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