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.
Deal Summary: $200 new checking account bonus available through March 31, 2023, no direct deposit required.
Availability: Residents of AL, FL, GA, NC, SC, and VA.
I first reported on this $200 bonus offer in 2021, and it continues to be a decent deal that can be done without direct deposit. SouthState Bank is offering a $200 bonus for opening a new personal checking account (in-branch or online) and completing two of three requirements (debit card purchases plus preauthorized automatic draft OR direct deposit) within 60 calendar days of...
Deal Summary: $100 bonus when depositing at least $10k of new funds in a new or existing Online Savings Account.
Availability: Nationwide (internet bank)
Now through February 15, 2023, Marcus by Goldman Sachs (Marcus) is offering a $100 bonus when depositing $10k or more of new money in a new or existing Online Savings Account. The new funds must be deposited within 10 days of enrollment. At least $10k of the new funds, plus the account balance at the time of enrollment, must be maintained for 90...
Deal Summary: Bonus amounts of $100, $500, and $1,000 when opening a new 360 Performance Saving account with deposits of at least $10k, $50k, and $100k of new money.
Availability: Nationwide through online application.
A few online banks have coupled rate hikes with new-money bonuses to attract more deposits. Capital One has long been one of these banks, but last week it upped the ante with an unusually large rate hike. That rate hike makes Capital One’s current bonus offer especially attractive for those who don’t have a Capital...
POSTED ON WEDNESDAY, OCTOBER 26, 2022 BY KEN TUMIN
In the last two weeks more 4%+ direct CDs have become available. Every term category now has multiple 4%+ CDs with the exception of terms under one year. However, we’re not seeing many new top rates. For example, two weeks ago, the highest 5-year direct CD yield from a bank was 4.25%. That remains the same today.
We are seeing more credit unions offering CD specials with rates in the mid 4% range. These have generally been mid-term CDs. I’ll have details on these in the “Direct CD Rates and Deals”...
Deal Summary: $150 or $450 bonus when opening a new Online Savings account now through November 8, 2022.
Availability: Nationwide (internet bank), new customers only
Good news – the long-running Online Savings bonus offered by Discover continues to be available.
Better news – the previous $150/$200 bonus has been significantly improved: $150 or $450. (This is the first time the upper-end bonus has been greater than $200.) The current promotion runs through November 8, 2022 and is available to new customers only: existing or prior Discover savings...
Update 10/22/2022: The promotion has been extended. Enrollment and funding deadlines have been extended by five days.
Deal Summary: Move new money into your eligible Ally Bank account and you'll get a 1% cash bonus, up to $500. Must enroll by 10/21/2022 10/26/2022.
Availability: Nationwide (internet bank) for new and existing customers.
Ally Bank introduced another 1% cash bonus promotion that’s similar to its 2020 and 2018 promotions. One improvement over 2020 is that the maximum bonus is now $500 instead of $250. Just like 2020, both new and existing...
POSTED ON WEDNESDAY, OCTOBER 19, 2022 BY KEN TUMIN
The next Fed meeting is just two weeks away, and the odds of another 75-bp rate hike are high (94.5% per the CME FedWatch Tool). That would move the target federal funds rate (TFFR) to 3.75% to 4.00%. Additional Fed rate hikes for December and February also look likely. By the Fed’s Jan 31/Feb 1 meeting, the odds are high that the TFFR will be at least 4.75%-5.00% (85.4% per the CME FedWatch Tool). That would be close to the peak TFFR in 2006/2007 (5.25%) when there were many online...
Deal Summary: 15-Month Jump Up CD Special, 4.00% APY, $500 minimum deposit, one-time rate increase
Availability: Residents of 11 Utah counties
Utah Community Credit Union (UCCU) recently added a 15-Month Jump Up CD Special earning 4.00% APY. This limited-time offer can be opened with a $500 minimum deposit, with no stated balance cap. The “Jump Up” feature allows the account owner to “increase the rate one time to the rate currently in effect for accounts of this type with the same term.”
With CD rate hikes over the weekend, Maryland-based Lafayette Federal Credit Union (Lafayette FCU) is continuing this year's practice of good-sized rate increases on a monthly basis. Including this month’s rate increases, there have been four substantial across-the-board rates in the past six months. Fixed CDs required a $500 minimum opening deposit, with no stated balance...
POSTED ON TUESDAY, SEPTEMBER 20, 2022 BY KEN TUMIN
Deal Summary: 60-month Certificate, 3.25% APY $500 minimum deposit, one-time bump-up option. 60-month Growth Certificate, 3.25% APY $5 min/$100k max, additional deposits up to $100k max allowed throughout the term, minimum $10 automatic monthly deposit required.
Availability: Easy membership requirement.
For a limited time, Utah-based Mountain America Credit Union (MACU) is offering a 60-month Certificate earning 3.25% APY with a one-time bump-option at no charge. Normally, a MACU rate bump option is offered on a Certificate with a rate that is discounted 25 bps below the...