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

Andrews Federal Credit Union Adds Wow-Worthy 7-Month CD Special
Update 12/3/2022: The availability of the 5.00% APY 7-Month Inflation Buster Share Certificate Special has been extended through December 14, 2022. This post was originally published on November 8, 2022.

Deal Summary: 7-Month Inflation Buster Share Certificate Special, 5.00% APY, $1k min/$100k max deposit, new money, limit of one per member, available through 12/2/2022.

Availability: Easy membership requirement.

Now through December 2, 2022, Andrews Federal Credit Union (Andrews Federal) is offering a 7-Month Inflation Buster Share Certificate Special (IBSCS) earning 5.00% APY. The minimum opening deposit is $1k...

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My eBanc SuperSaver Money Market Account Is New Rate Leader
Deal Summary: SuperSaver Money Market Account, 4.08% APY ($100k+), 2.48% APY (up to $100k). Online Time Deposits – 12-month (4.71% APY) and 18-month (4.71% APY), $5k minimum opening deposit.

Availability: Internet bank

Good news – Florida-based My eBanc is currently offering 4.08% APY on its SuperSaver Money Market Account.

Not-as-good news – A minimum $100k balance is required to earn the 4.08% APY.

As recently as mid-November, the SuperSaver MMA earned 2.48% APY on all balances, but at the beginning of December, My eBanc restructured the SuperSaver MMA, adding two...

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CFG Bank Boosts Money Market and CD Rates
Deal Summary: CDs – 12-month (4.65% APY) and 18-month (4.75% APY), $500 min/$250k max deposit. High Yield Money Market, 4.00% APY, on balances of $1k and above.

Availability: Nationwide through online application

In October, Maryland-based CFG Bank (CFG) had adopted a “uni-rate” strategy, with the 12-, 18-, 36-, and 60-month CDs all earning the same APY. That approach was short-lived, and now the shorter-term CDs have the highest rates. Following recent rate increases of 15 bps for the two shorter-term CDs and 25...

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Michigan State University Fed Credit Union 1-Year CD Is A Rate Leader
Deal Summary: 1-year Add-On Certificate, 4.60% APY, $50 min deposit. 1-year Add-On Jumbo Certificate, 4.86% APY, $100k min deposit.

Availability: Easy membership requirement

Michigan State University Federal Credit Union (MSUFCU) is currently offering very competitive rates on its 1-year Add-On Certificate (4.60% APY, $50 min) and 1-year Jumbo Add-On Certificate (4.86% APY, $100k min). Following significant rate increase of 160 bps, both Add-On Certificate APYs are the highest offered since DA began tracking them more than ten years ago. Unfortunately, the Add-On feature doesn’t provide...

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UFB Direct Ups Money Market and Savings Account Rates
Deal Summary: UFB High Rate Money Market (3.91% APY), UFB High Rate Savings (3.91% APY), no minimum opening deposit.

Availability: Nationwide (internet bank)

Soon after I published yesterday’s Liquid Rates Summary, I was informed that California-based UFB Direct would be raising the rates on its UFB High Rate Money Market and UFB High Rate Savings accounts to 3.91% APY, effective December 1, 2022. As this is NOT a new account, all existing High Rate MMA and Savings accounts will automatically begin earning 3.91% today. There is no need to...

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INOVA Federal Credit Union Boosts Limited-Time 20-Month CD Rate
Deal Summary: 20-month Certificate, 4.75% APY, $200 minimum deposit.

Availability: Easy membership requirement in northern Indiana and San Francisco Bay area.

In early October, INOVA Federal Credit Union (INOVA) offered a limited-time 14-month Certificate Special, earning 4.05% APY. The 14-month Certificate Special was quite short-lived, lasting little more than a week. Its replacement was a limited-time 20-month Certificate with the same 4.05% APY. The 20-month Certificate is still available and now offers a competitive 4.75% APY. The minimum opening deposit is $200, with no stated...

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Latest Liquid Bank Account Rates
Latest Liquid Bank Account Rates

The December Fed meeting is just two weeks away. The highest odds are for a 50-bp rate hike, but those odds have fallen a bit from two weeks ago. Currently, the odds of a 50-bp rate hike are 77.0%, down from 83.0% two weeks ago. The odds of a 75-bp rate hike are now 23.0%, up from 17.0% two weeks ago (Odds are based on the CME FedWatch Tool.)

This Thursday, October PCE inflation data will be released (PCE is the Fed’s preferred inflation gauge,) and this Friday, the November employment...

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All America Bank/Redneck Bank Up Money Market Rate and Balance Cap
Deal Summary: Mega Money Market, 4.00% APY on balances up to $75k, balances over $75k earn 0.50% APY, minimum $500 opening deposit.

Availability: Nationwide

About a week ago, Oklahoma-based All America Bank and its online “country cousin” division, Redneck Bank, began offering a higher rate and a larger balance cap on its Mega Money Market (MMM) accounts. Following the addition of 95 bps, the Mega Money Market (MMM) accounts now earn 4.00% APY on balances up to $75k (previously $50k); balances over $75k earn 0.50% APY.

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Michigan Schools and Govt Credit Union 5-Year CD Offers Leading Rate
Deal Summary: 5-year CD, 4.75% APY, $500 minimum deposit, one-time rate bump option.

Availability: All Michigan counties

If you live in Michigan and are looking for long-term CD with a high rate, the 5-year CD offered by Michigan Schools and Government Credit Union (MSGCU) might be a good fit. In addition to having a competitive 4.75% APY, the 5-year also has a mild 180 day Early Withdrawal Penalty (EWP), a one-time rate bump option, and a low $500 minimum opening deposit. A long-time DA reader described the MSGCU...

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Synchrony Bank Offers Top Rate On Limited-Time 19-Month CD Special
Deal Summary: 19-month CD Special (4.75% APY), no minimum deposit

Availability: Nationwide

Top CD rates are nearing 5%. Most have been either brokered CDs or direct CDs from small banks and credit unions. Synchrony Bank is the first major bank to offer such a high rate on a direct CD (without going through a middleman). Its new 19-month CD Special has a 4.75% APY. In an unusual move, Synchrony is promoting this Special as only being available through December 4, 2022.

The minimum deposit for Synchrony CDs and IRA CDs...

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INSBANK Online Adds Competitive Short-Term CDs
Deal Summary: CDs – 12-month (4.65% APY), 18-month CD (4.72% APY), $2.5k min/$240k max deposit per CD.

Availability: Nationwide (internet bank)

Tennessee-based INSBANK Online recently increased the rates on its 12-month CD (4.65% APY) and 18-month CD (4.72% APY). Following impressive increases of 275 bps and 272 bps respectively, the 12-month CD and 18-month CD are currently offering near-rate leading APYs. The minimum opening deposit is $2.5k, with a balance cap of $240k per CD.

According to CSR, partial withdrawals are not allowed: an INSBANK Online CD...

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State Bank of Texas 12-Month CD Special Is Near-Rate Leader
Deal Summary: 12-month CD Special, 4.65% APY, $25k minimum deposit.

Availability: Nationwide

Last week, Dallas-based State Bank of Texas (SBT) upped the rate on its nationally available 1-year CD Special to 4.65% APY. The 12-month CD Special can be opened with a $25k minimum deposit, with no stated balance cap.

The 12-month CD Special was added back to the product line in December 2021 earning 0.85% APY, which was a competitive rate at the time. Since its debut, there have been 13 rates increases,...

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