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.

Featured Savings Rates

Popular Posts

Featured Accounts

Bank Deals Blog

1st Colonial Community Bank (NJ) Has Competitive 36-Month CD

Deal Summary: 36-month CD, 2.00% APY, $500 minimum deposit

Availability: Market area is South New Jersey.

1st Colonial Community Bank (1st Colonial) is currently offering a 36-month CD (2.00% APY). The minimum deposit is $500, with no stated balance cap.

The 36-month CD is available as an IRA (Traditional) earning the same APY, with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for the 36-month CD is six months interest.

Thanks to DA reader, patking, for the Forum post...

Continue Reading
NEFCU's (NY) 5-Year Certificate's APY Hits Five Year High

Deal Summary: 5-Year Certificate, 2.35% APY, $1k minimum

Availability: Residents of portions of Nassau and Suffolk Counties, New York.

Last week, NEFCU (formerly known as the Nassau Educators Federal Credit Union) raised the rate on its 5-year Certificate (2.35% APY). The Certificate requires a minimum deposit of $1k, with no stated balance cap.

In the past five years, there have been nine rates changes, with this most recent increase resulting in the highest APY in more than five years.

The 5-year Certificate is also available as an...

Continue Reading
Popular Direct (Internet Bank) Ups 3-Year CD Rate

Deal Summary: 3-Year Popular Direct CD, 1.90% APY, $10k minimum

Availability: Nationwide, internet bank

It’s been almost nine months since Banco Popular North America introduced its newest internet division, Popular Direct. At the end of last week, Popular Direct raised the rates on its long-term CDs, with the 3-year Popular Direct CD being the most competitive. The minimum opening deposit for any Popular Direct CD is $10k, with no stated balance cap.

Since August 2016, there have been four rate increases for the 3-year CD,...

Continue Reading
Why You Need to Be Careful With Large Cash Bank Deposits
Why You Need to Be Careful With Large Cash Bank Deposits

The IRS made headlines last year when word got out that they had seized $43 million from more than 600 people for violating structuring laws, despite the fact that there was nothing that suggested criminal wrongdoing.

If you’re like most people, you have no clue about structuring laws. To keep it simple, federal law states that if an individual conducts a cash transaction of more than $10,000, the bank is required to file a currency transaction report to the U.S. Treasury Department. You can’t get around this rule...

Continue Reading
Hanover Community Bank (NY) Celebrates With New CDs

UPDATE 3/25/2017: 21- and 29-month CD and Relationship Savings rates increased.

Deal Summary:

13-Month CD, 1.35% APY, $500 minimum deposit

21-Month CD, 1.55% 1.75% APY, $500 minimum deposit

29-Month CD, 1.65% 1.90% APY, $500 minimum deposit

Relationship Savings, 1.15% 1.25% APY, up to $250k

Availability: Market area covers a large portion of the NYC metropolitan area, including Nassau, Suffolk, Queens, and Kings Counties, New York.

To celebrate the opening of its new Forest Hills (Queens) branch, Hanover Community Bank (HCB) is offering three competitive CDs (13-month, 1.35% APY; 21-month, 1.55% 1.75% APY; 29-month, 1.65%...

Continue Reading
Windsor Locks FCU (CT) Ups Rate On 5-Year CD and Jumbo CD

Deal Summary: 5-year Jumbo Term Share Certificate (2.42% APY, $100k) and 5-year Term Share Certificate (2.27% APY, $500), available through April 18, 2017.

Availability: Residents of Hartford County, Connecticut.

Now through April 18, 2017 (this year's tax filing deadline), Windsor Locks Federal Credit Union (WLFCU) is offering special rates on its 5-year Jumbo Term Share Certificate (2.42% APY, $100k) and 5-year Term Share Certificate (2.27% APY, $500).

The 5-year Certificates are also available as IRAs (Traditional, Roth, and CESA), earning the same APYs with the same funding requirements.

Continue Reading
First Central Direct Has Nationally Available 36-Month CD (2.00% APY)

Deal Summary: 36-month E-Certificate of Deposit, 2.00% APY; 30-month E-Certificate of Deposit, 1.85% APY; $500 minimum deposit.

Availability: Nationwide (internet division)

Earlier this month, I wrote about First Central Direct, the new online division of First Central Savings Bank, and its competitive online money market account. First Central Direct has just raised the rates on its online 36-month E-Certificate of Deposit (2.00% APY) and 30-month E-Certificate of Deposit (1.85% APY). The minimum deposit is $500, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty for any...

Continue Reading
Ally Bank Increases Rates on 1-Year, 5-Year and Raise Your Rate CDs

Deal Summary: 1-year CD, 1.30% APY (increase of 25 bps); Also, rate increases on 5-year CD, 2-year Raise Your Rate CD and 4-year Raise Your Rate CD.

Availability: Internet Bank

Ally Bank increased the rate of its 1-year CD by 25 basis points. The new rate is now 1.30% APY for all balances. In addition, Ally increased the rates by 10 basis points of its two Raise Your Rate (RYR) CDs. The 2-year RYR CD has a 1.40% APY, and the 4-year RYR CD has a 1.50% APY. The...

Continue Reading
Bankers Trust Company (IA/AZ) Adds 9-21 Pick-A-Term CD

Deal Summary: 9-21 Month Pick-A-Term CD; 1.50% APY- 1.60% APY; relationship required for higher APYs; $1k minimum deposit.

Availability: Market area includes Cedar Rapids and Des Moines, Iowa area and the greater Phoenix, Arizona area.

Iowa-based Bankers Trust Company has brought the Pick-A-Term CD back, and the current version is the 9-21 Month Pick-A-Term CD (1.50% base APY). There are four different levels of Bonus Interest Rates, based on Relationship Packages: Bronze Tier 0.02% APY, Silver Tier 0.05% APY, Gold Tier 0.07% APY, and Platinum Tier...

Continue Reading
Vibrant Credit Union (IL/IA) To Add High Interest Checking In April

Deal Summary: High Interest Checking, 2.25% APY up to $15k, available on April 1, 2017.

Availability: Residents of Quad City area (Iowa/Illinois).

On April 1, Vibrant Credit Union (Vibrant CU) will be debuting five new checking accounts, including its High Interest Checking account, which earns 2.25% APY on qualifying balances up to $15k. Qualifying balances above $15k earn 0.01% APY, with non-qualifying balances not earning any interest.

Qualifying Requirements

  • Direct Deposit of at least $500
  • At least 12 signature debit card transactions
  • Receive eStatements.

The High Interest Checking account has...

Continue Reading
SharePoint CU (MN) Has "Sweet Savings" With New CD Specials

Deal Summary: 11-month CD Special, 1.50% APY; 31-month CD Special, 2.00% APY; $500 min/$50k max of new money.

Availability: Residents of the Minnesota counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington; 80+ Partner Companies.

SharePoint Credit Union (SharePoint CU) is offering “Sweet Financial Savings” with two new CD Specials: 11-month (1.50% APY) and 31-month (2.00% APY). The minimum deposit is $500, with a balance cap of $50k; both CD Specials require new money.

Both CD Specials are available as IRAs (Traditional, Roth....

Continue Reading
Neighborhood CU (TX) Doubles Kasasa Cash Balance Cap To $50k

Deal Summary: Kasasa Cash checking, 2.50% APY up to $50k.

Availability: Residents of 12 Texas counties; 100+ SEGs.

Neighborhood Credit Union (Neighborhood CU) recently doubled the maximum qualifying balance cap to $50k on its Kasasa Cash (2.50% APY). Qualifying balances of $50k+ earn 0.20% APY, with non-qualifying balances earning 0.01% APY.

The previous $25k balance cap had been in effect since early 2013, when it was raised from $15k. The 2.50% APY has remained unchanged throughout the life of the account.

Kasasa Cash Qualifying Requirements

  • Have at least 15...
Continue Reading
View Archive