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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Join Us for a Deep Dive into J.D. Power’s 2017 Bank Ratings
Join Us for a Deep Dive into J.D. Power’s 2017 Bank Ratings

If I utter the phrase “J.D. Power Ratings”, I’ll bet you a dollar I can guess what pops into your mind. It’s probably a memory of the last time you bought a new or used car. Maybe you were trying to figure out whether people are happier with their Toyota Highlanders or their Nissan Pathfinders, or which sedan is more dependable, the Ford Fusion or the Honda Accord. Whatever car model one’s considering, J.D. Power can ply you with a wide array of metrics to help (or perhaps complicate?) your...

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NEFCU (NY) 18-Month CD Now Earns 1.75% APY
Deal Summary: 18-Month Certificate, 1.75% APY, $1k minimum

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

NEFCU (formerly known as the Nassau Educators Federal Credit Union) has just raised the rate on its 18-month Certificate (1.75% APY). The Certificate requires a minimum deposit of $1k, with no stated balance cap.

The 18-month Certificate has been part of the product line for less than two years. During that time there were four rate changes, but for more than a year the APY was stuck at 1.15%....

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Blue Gate Bank (CA) Adds 1.50% APY Money Market
Deal Summary: Money Market, 1.50% APY guaranteed through January 31, 2018, $25k minimum deposit, $5m maximum combined deposits per customer, new money, checking relationship.

Availability: Market area is Southern California.

If you’re not familiar with Blue Gate Bank, there’s a good reason: Blue Gate Bank opened its doors for business on January 23, 2017.

Blue Gate Bank’s inaugural special is its Money Market account, with a 1.50% APY that is guaranteed through January 31, 2018. The minimum opening deposit is $25k of new money; a minimum $25k...

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State Bank of Texas 12-Month Jumbo CD (1.55% APY) Available Nationwide
Deal Summary: 12-month Jumbo CD, 1.55% APY, $100k minimum; 12-month CD, 1.45% APY, $25k minimum.

Availability: Nationally available

State Bank of Texas’ (SBT) has raised the rate on its 12-month Jumbo CD (1.55% APY, $100k minimum) and 12-month CD (1.45% APY, $25k minimum). SBT has been offering these products nationwide on-and-off for more than a year.

CSR stated that if you “bring a total of $200k, it will be split into two $100k CDs earning 1.575% APY."

According to CSR, the Early Withdrawal Penalty for the 12-month CD...

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Pelican State CU (LA/AR/TX/MS) Boost Rates On Long-Term CDs
Deal Summary: 48-month Share Certificate (2.41% APY) and 60-month Share Certificate (2.61% APY), $500 minimum deposit.

Availability: Easy membership requirement for residents of Louisiana, Arkansas, Mississippi, and Texas; Residents of Rapides Parish, Louisiana; Employees and retirees of several SEGs

Yesterday, Pelican State Credit Union (Pelican State CU) raised the rate on its 48-month Share Certificate (2.41% APY) and 60-month Share Certificate (2.61% APY). The minimum opening deposit for either Share Certificate is $500, with no stated balance cap.

Note: While Pelican State CU has separate Jumbo Share...

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CD Rates Summary May 23, 2017
CD Rates Summary May 23, 2017

More signs have appeared to suggest that we may not see many more Fed rate hikes this year. The latest sign came from St. Louis Fed President James Bullard who suggested on Friday that the Fed’s projections for raising interest rates this year may be too optimistic. Most on the Fed had projected three rate hikes in 2017, which includes the March hike. According to this USA Today article:

Even though doubts have grown about more Fed rate hikes for this year, the chance of a rate hike at the Fed’s...

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Chemical Bank (MI/OH/IN) Marks 100 Years With 15-Month CD Special
Deal Summary: 15-month CD Special (1.50% APY), $100 min/$1.5 million max, new money.

Availability: Market area includes Michigan’s Lower Peninsula, northeast and central Ohio, and northern Indiana.

In celebration of its 100th anniversary, Chemical Bank is offering a 15-month CD Special (1.50% APY). The minimum opening deposit is $100, with a maximum deposit per household of $1.5 million. The CD Special requires new money, which is defined simply as "funds not currently on deposit with Chemical Bank." This is a limited time offer, but no...

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Bethpage FCU's 25-month CD Is Available Nationwide
Deal Summary: 25-month Certificate (1.75% APY), $50 minimum deposit.

Availability: Easy membership requirement

Last week, Bethpage Federal Credit Union (Bethpage) added a 25-month Certificate (1.75% APY). The minimum opening deposit is a low $50, with no stated balance cap.

The 25-month Certificate is also offered as an IRA (Traditional and Roth), earning the same APY with the same funding requirements.

As stated in Bethpage’s Membership Account Information booklet, the Early Withdrawal Penalty (EWP) reads as follows:

Given the mild impact of the EWP on its long-term CDs, the 2.25%...

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Five Star Bank (NY) Adds 8-Month CD Special (2.00% APY)
Deal Summary: 8-Month CD Special, 2.00% APY, $500 min/$250k max new money, TotalValue Premier Checking account required. Money Market Special, 1.35% APY (guaranteed until August 31, 2017), $1k min, checking relationship required.

Availability: Market area is 18 western New York counties.

Five Star Bank has added an 8-month CD Special that earns 2.00% APY. The minimum deposit is $500 of new money, with a balance cap of $250k. A TotalValue Premier Checking account, which is a variable rate account, is required to open the 8-month CD...

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How to Bolster the Password for Your Online Bank Account
How to Bolster the Password for Your Online Bank Account

While you’ve likely heard of the mega breaches suffered by LinkedIn, Yahoo and others in recent times, there are plenty more smaller ones that go unreported, unnoticed and often undetected. Your password is key to your safety in online banking. If you listen to the noise on social media, some banks don’t even require passwords to be case sensitive. That, of course, is not ideal. The more unique a password, the better, which is why the length of a password is also critical.

It’s not just chatter on social media....

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Home Savings Bank (UT) Has Nationally Available 12mo CD (1.45% APY)
Deal Summary: 12-month Internet Only CD Special, 1.45% APY, $5k min/$250k max deposit.

Availability: Nationwide, online only

This week, Home Savings Bank raised the rate on its nationally available 12-month Internet Only CD Special (1.45% APY). The minimum deposit is $5k, with a $250k maximum deposit.

In the past year, there have been six rate increases for the CD Special, with this latest increase resulting in its highest APY ever.

The 12-month Internet Only CD Special is also offered as an IRA (Traditional) earning the same APY, with...

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KS StateBank Boosts Rates On All Nationwide Online Jumbo CDs
Deal Summary: Internet Only Jumbo CD Specials: 1-year (1.35% APY), 2-year (1.65% APY), 3-year, (1.85% APY), 4-year (2.00% APY), and 5-year (2.20% APY); $100k minimum deposit. Regular CDs earn the same APYs for the same term lengths, but require a $500 minimum deposit.

Availability: Nationwide

Kansas-based KS StateBank has raised the rates on all its Internet Only Jumbo CD Specials. The Jumbo CD Specials all require a $100k minimum deposit.

The “Notes” section for the Jumbo CD Specials on the Deposit Rates...

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