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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Liberty Bank (CT) Boosts 18-Month Promo CD To 2.00% APY
Deal Summary: 18-month Promo CD, 2.00% APY, $500 minimum deposit, new money, limit of one per customer.

Availability: Available only in-branch at all Connecticut branch locations.

Liberty Bank has added 30 bps to its 18-month Promo CD, boosting the APY up to 2.00%. The minimum opening deposit is $500 of new money, which is defined simply as “funds not currently on deposit at Liberty Bank.” While there is no stated balance cap, there is a limit of one Promo CD per customer.

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Bank5 Connect's 24mo CD (2.10% APY) - Unlimited Add-On Deposits
Availability: 24-month Investment CD (2.10% APY), $500 minimum opening deposit, unlimited deposits allowed throughout the term.

Availability: Nationwide, with the exception of Massachusetts and Rhode Island.

Bank5 Connect has just raised the rate on its 24-month Investment CD (2.10% APY) by 80 bps. This limited-time offer requires a minimum opening deposit of $500, with no stated balance cap. In addition to having a very competitive rate, the Investment CD features “flexible deposits: anytime, any amount!”

But with a Bank5 Connect Investment CD, you can transfer funds...

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INSBANK Adds Nationally Available 17-Month CD (1.90% APY)
Deal Summary: 17-month CD (1.90% APY), $25k min/$240k max deposit per CD.

Availability: Nationwide

INSBANK’s 17th “birthday” is next week and the Bank is celebrating by offering a nationally available 17-month CD (1.90% APY.) The minimum opening deposit is $25k, with a balance cap of $240k per CD. This is a limited-time offer, although no expiration date is stated.

The promotion material I received states,

According to a bank official, the Early Withdrawal Penalty for CDs with term lengths of 15-20 months is 12 months interest.


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Icon Credit Union (ID/OR) Features Competitive CD Specials
Deal Summary: CD Specials – 18-month (1.80% APY), 24-month (1.90% APY), new money, $500 minimum opening deposit

Availability: Residents of seven Idaho and two Oregon counties.

Icon Credit Union (Icon CU) is currently featuring four CD Specials: 12-month (1.60% APY), 18-month (1.80% APY), 24-month (1.90% APY), and 48-month (2.00% APY). The minimum deposit is $500 and new money is required to earn the stated APYs. Of the four, the 18- and 24-month CD Specials are the most competitive.

As stated in the Truth in...

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DepositAccounts.com November 2017 Rate Trends
DepositAccounts.com November 2017 Rate Trends

Over the last several years we have been issuing monthly press releases. These are intended to provide a summary of average deposit account rates and how they have changed in the last month. We thought these press releases would be of interest to readers now that we are finally seeing some upward movement on rates.The November press release is below.

December Rate Hike - What Does It Mean for Savers?

A December Fed rate hike appears to be almost a sure thing. If the Fed does decide to raise the federal funds...

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First Internet Bank Raises Short-Term CD Rates Again
Deal Summary: 12-month CD (1.71% APY), 18-month CD (1.79% APY), $1k minimum deposit

Availability: Nationwide (internet bank)

At the beginning of the year, First Internet Bank (First IB) began raising the rates on its 12- and 18-month CDs in small but steady steps. The latest increases happened this week, with the 12-month (1.71% APY) and 18-month (1.79% APY) reaching their highest rates in almost eight years. Since early January, the 12-month CD has gained 55 bps in ten rate increases, with the 18-month CD gaining 45 bps in...

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United FCU Unveils Three New Share Certificate Specials
Deal Summary: 16-month Share Certificate Special, 1.75% APY, $500 minimum deposit

Availability: Easy membership requirement for residents of Arkansas, Indiana, Michigan, Nevada, North Carolina, Ohio, and Oklahoma; employees of 900+ SEGs.

For more than a year, United Federal Credit Union (UFCU) has been offering limited-time Share Certificate Specials. The three Specials currently being offered are a 5-month (1.05% APY), 16-month (1.75% APY), and 58-month (2.30% APY), with the 16-month being the most competitive. The minimum deposit for any of the Specials is $500, with no...

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Best Bank Account Interest Rates - Summary for November 14, 2017
Best Bank Account Interest Rates - Summary for November 14, 2017

We are still on track for a December Fed rate hike. However, there remains significant doubt about 2018 due to stubbornly low inflation. Federal Reserve Bank of Philadelphia President Patrick Harker explained his views about rate hikes in 2018 in an interview last week. According to this Bloomberg article, Harker said “he wants to see signs of inflation moving higher before backing tightening next year.” However, he may support rate hikes in 2018 for other reasons:

Harker won’t be a voting member at the FOMC in 2018, but he and...

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Large 360 CD Rate Hikes at Capital One - 5-Year Now 2.45% APY

Deal Summary: CD rate hikes. Three noteworthy ones include 5yr CD, 2.45% APY; 2yr CD, 1.85% APY; 1yr CD, 1.65% APY; no minimum deposit

Availability: Nationally available

Capital One increased the rates on seven of its 360 CDs this morning. Most notably, the 5-year CD rate has reached a new high for Capital One 360 CDs: 2.45% APY. This is an increase of 15 basis points, and it moves Capital One’s 360 5-year CD as a rate leader for internet banks. This CD becomes even more competitive when you consider...

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Citizens State Bank (TX) Brings Back MyCash Checking
Deal Summary: MyCash Checking, 2.50% APY on qualifying balances up to $20k.

Availability: Market area includes Henderson, Kaufman, and Smith Counties, Texas.

It’s no secret that banks and credit unions frequently add new products, eliminate old ones, and even change the name of an existing account. That’s what has happened with Citizens State Bank’s (CSB) rewards checking account. In September 2014, DA member cumulus noted that CSB’s MyCash Checking account earned 5.00% APY, with a $10k cap. Sometime after cumulus’ Forum post, the account name...

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American Eagle Financial CU (CT) 18-Month CD Earns 2.25% APY
Deal Summary: 18-month Certificate (2.25% APY), 6-month Certificate (2.00% APY), $1k minimum deposit, checking account required.

Availability: Residents of Hartford, Middlesex, New Haven, and Tolland Counties, Connecticut.

At the end of last week, American Eagle Financial Credit Union (AEFCU) dramatically raised the rates on its 18-month Certificate (2.25% APY) and 6-month Certificate (2.00% APY). These limited-time offers require a $1k minimum deposit, with a maximum deposit of $500k.

The both Certificates are available as IRAs (Traditional and CESA) earning the same...

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IncredibleBank's 12-Month IB CD Now Earns 1.72% APY
Deal Summary: IB CDs – 12-month (1.72% APY), 24-month (1.87% APY), 36-month (2.06% APY), $1k minimum deposit.

Availability: Nationwide, internet only

Last spring, I noted that IncredibleBank, the internet division of River Valley Bank (Wisconsin), had raised the rates on its short-term CDs. The higher rates were certainly welcomed, but the resulting APYs weren’t that competitive. Those short-term CDs are no longer available, but IncredibleBank introduced three IB CDs in their stead in early October. The initial APYs weren’t very “incredible,” but those rates were raised at the...

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