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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ConnectOne Bank Now Offers CDs Nationwide with a 2-Year at 2.12% APY
Deal Summary: 24-month Personal CD, 2.12% APY, $500 minimum deposit, online only.

Availability: Nationwide.

In July, I had written about ConnectOne Bank and its special 15-month CD. At that time, this CD was available online to residents of New York and New Jersey. I’m happy to report that ConnectOne Bank is now offering their CDs nationwide. Rates have remained competitive, and now the bank’s 24-month CD has become very competitive. The rate increased today to 2.12% APY. The minimum opening deposit is $500. The online application limits the maximum...

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R.I.A. FCU (IA/IL/WI) Offers Promotional CDs with Top 5-Year Rates
Deal Summary: 60-month Share Certificate, 2.42% APY base rate; immediate bump of 0.10% ($5k min), 0.20% ($50k min), and 0.30% ($100k min) with new money.

Availability: Residents of the Quad Cities (IA/IL) and two Wisconsin counties; employees of more than 200 SEGs; civilian employees and military personnel at the Rock Island Arsenal or Fort McCoy.

Yesterday, R.I.A. Federal Credit Union (RIA FCU) unveiled its “Dream Your Way To Higher Rates” promotion on its 18-, 24-, 36-, and 60-month Share Certificates. Immediate bump rates of an additional 0.10% ($5k...

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ableBanking Hikes 1-Year CD Rate To 1.70% APY
Deal Summary: 1-year CD, 1.70% APY, $1k minimum deposit, $240k maximum deposit.

Availability: Nationwide (internet bank)

ableBanking (internet division of Northeast Bank) is the latest bank to become a player in the nationally available 1-year CD rate race, by adding 30 bps to its 1-year CD (1.70% APY). The minimum deposit is $1k, with a balance cap of $240k.

The 1-year CD was part of the product line when ableBanking opened its virtual doors in 2012. Four months after the 1-year CD debuted, the...

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AAC Credit Union (MI) Adds 25-Month Autumn CD Special (2.05% APY)
Deal Summary: 25-month Autumn CD Special, 2.05% APY, $500 minimum

Availability: Residents of six west Michigan counties

AAC Credit Union (AACCU) has added a 25-month Autumn CD Special, which earns 2.05% APY. The Autumn CD Special can be opened with a $500 minimum deposit, with no stated balance cap.

AACCU currently has two other CD Specials (13-month, 1.51% APY; 60-month, 2.27% APY), but neither has a very competitive rate.

As stated in the CD Disclosure document, the Early Withdrawal Penalty reads as follows:

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PenFed Increases Rates On All Certificates

Deal Summary: Most competitive are the 18-month (1.76% APY) and 1-year (1.61%); $1k minimum deposit

Availability: Easy membership requirement

PenFed Credit Union (PenFed) increased the rates on all of its Money Market Certificates (CDs) today. PenFed typically changes rates at the start of each month, so this increase is a good sign that PenFed saw the need to do another rate hike so soon after its October 1st increase. The new rates aren’t exceptional, but they are competitive. The most competitive ones are the 18-month CD (1.76% APY) and the 12-month...

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Idaho Central Credit Union Has Top Rates on 1- and 2-Year Freedom CDs
Deal Summary: Freedom CDs – 1-year (1.75% APY) and 2-year (2.00% APY), $500 minimum deposit, one-time bump option, one-time additional deposit within 60 days of account opening.

Availability: Residents of 27 Idaho counties and one Nevada county; members of other Idaho credit unions; employees and retirees of the State of Idaho.

Idaho Central Credit Union (Idaho Central) is continuing to offer competitive promotional rate CDs, with the latest offerings including two Freedom CDs: 1-year (1.75% APY) and 2-year (2.00% APY). The minimum deposit is $500, with no...

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First Federal Credit Union (IA) Offers 20-Month CD Special (2% APY)
Deal Summary: CD Specials – 10-month, 1.75%; 20-month, 2.00%; 30-month, 2.25% APY; $10k minimum deposit, new money.

Availability: Residents of Linn County, Iowa

For more than two years, First Federal Credit Union (First Federal) has offered a variety of CD Specials with attractive rates. The latest offering includes a 10-month (1.75%), 20-month (2.00%), and 30-month (2.25% APY) CD Special. Of the three, the 10- and 20-month are the most competitive.

The CD Specials require a $10k minimum opening deposit of new money, with no stated balance cap.

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Best Bank Account Interest Rates - Summary for October 17, 2017
Best Bank Account Interest Rates - Summary for October 17, 2017

Last Friday’s consumer inflation report that showed a surge in inflation is unlikely to have any impact on the Fed. Higher energy prices due to Hurricane Harvey was the main reason for the surge in the consumer price index (CPI), but the core CPI which excludes food and energy rose a much smaller amount (0.1%), and on a yearly basis, the core CPI remains unchanged at 1.7% for the fifth month in a row. Even though core CPI isn’t the preferred inflation index for the Fed, it does add to...

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First Community CU (MO/IL) Adds Limited-Time 2% APY 2-Year CD
Deal Summary: 24-month CD, 2.00% APY, $500 minimum deposit, available October 16-23, 2017, in-branch only.

Availability: Residents of five Missouri counties and the City of St. Louis, and three Illinois counties, all in the St. Louis metropolitan area.

Now through October 23, First Community Credit Union (First Community CU) is offering a special rate on its 24-month CD (2.00% APY). The minimum deposit is $500, with no stated balance cap.

The 24-month CD is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the...

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Red Rocks Credit Union (CO) Adds 4-Year Fall CD Special, 2.42% APY
Deal Summary: Limited-time, new money, tiered-rate Fall Share Certificates Specials: 48-month (2.27% APY, $10k; 2.42% APY, $100k), 24-month (1.50% APY, $10k; 1.75% APY, $50k; 2.00% APY, $100k),12-month (1.25% APY, $10k; 1.50% APY, $50k; 1.75% APY, $100k).

Availability: Easy membership requirement for Colorado residents.

For the past couple of years, Red Rocks Credit Union (Red Rocks CU) has been offering “seasonal” Share Certificate Specials. The 2017 Fall Specials have been announced, and surprisingly, the most competitive rate belongs to a long-term Share Certificate: 48-month (2.27% APY, $10k and...

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Northpointe Bank Offers Nationally Available 17-Month CD Special
Deal Summary: 17-month CD Special, 1.75% APY, $1k minimum.

Availability: Nationwide

Michigan-based Northpointe Bank has added a 17-month CD Special that earns 1.75% APY. The minimum deposit is $1k, with no stated balance cap.

The CD Special is also offered as an IRA, earning the same APY with the same funding requirements.

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

For CD Terms of 1 year but less than 3 years the
penalty is 90 days interest on principal amount withdrawn.

Ultimate...


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Inflation News: October I Bonds Will Return More than Top 1-Year CDs
Inflation News: October I Bonds Will Return More than Top 1-Year CDs

The Labor Department released the September Consumer Price Index (CPI) numbers on Friday, and with these numbers, the next Series I Savings Bond inflation component can be computed. This allows us to calculate the earnings for I Bonds purchased this month and redeemed from October 2018 to January 2019. Sometimes I Bonds compare favorably to 1-year CDs, and that is the case this time. The rise in gas prices after the hurricanes caused the CPI to surge. Friday’s report showed that the CPI-U increased by 1.24% in the last six...

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