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.

Popular Posts

Bank Deals Blog: CD Deals

CFG Bank Hikes Rates of Money Market and 13-Month Penalty Free CD
Deal Summary: High Yield Money Market, 1.65% APY, $1k+, new money. 13-month Penalty Free CD, 1.70% APY, $500 min/$250k max deposit, one penalty-free withdrawal.

Availability: Nationwide through online application

As DA reader, thowellIII, noted in a Forum post yesterday, Maryland-based CFG Bank (CFG) added 35 bps to both the High Yield Money Market and 13-month Penalty Free CD.

High Yield Money Market

The nationally available High Yield Money Market (HYMM) currently earns 1.65% APY on balances of $1k and above. The minimum opening deposit is $1k...

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AgFed Credit Union Ups Rate of Limited-Time 18-Month Special CD
Deal Summary: 18-month Special Certificate, 2.60% APY, $250 min/$100k max deposit, new money. Asset Builder Certificates – 24-month (1.95% APY), 18-month (1.50% APY), 12-month (1.25% APY), $25 min opening deposit, unlimited additional deposits (no min) throughout the term.

Availability: Easy membership requirement.

For a limited time, AgFed Credit Union (AgFed) is offering an 18-month Special Certificate earning a very competitive 2.60% APY. This rate just recently increased from 2.30% to 2.60% APY (As of early July 1st, AgFed's website hasn't been completely updated with the new rate.) The...

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5Point Credit Union (TX) Has Limited-Time 18-Month CD Special
Deal Summary: 18-month High Rate CD, 2.68% APY, $1k minimum deposit, new money only.

Availability: 16 Southeast Texas counties

For a limited time, 5Point Credit Union (5Point) is offering an 18-month High Rate CD earning 2.68% APY. The minimum opening deposit is $1k and new money is required. Star Saver account holders (members aged 0-12) can open a High Rate CD with a $100 minimum deposit.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

If the CD has not yet earned enough...

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CD Bank Substantially Increases All CD Rates
Deal Summary: CDs – 6-month (1.40% APY) and 9-month (1.75% APY), $100k min/$500k max deposit.

Availability: Nationwide (internet bank)

Dallas-based CD Bank hasn’t produced any really good CD rates for more than three years. The last blog post was in April 2019 when CD Bank was offering a 24-month CD earning 3.20% APY. A series of eight rate decreases began in May 2019, with all CD rates bottoming out in 2020. Those mediocre APYs remained in effect until yesterday, when CD Bank significantly raised all CD...

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Ally Bank Increases Rates of Online Savings Account and Five CDs
Deal Summary: Ally Bank CD rate increases - Online Savings Account (1.00% APY), 20-month Select CD (2.35% APY), 60-month High Yield CD (2.75% APY), no minimum balance.

Availability: Nationwide (online bank)

On Friday, Ally Bank increased the rate of its Online Savings account for the second time this month. The 10-bp rate hike increased the APY from 0.90% to 1.00%. For June, the APY has increased 25 bps. This follows 25 bps of rate increases in May. Before May 10th, the Ally Online Savings account rate was stuck at its...

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United Texas Bank Boosts Nationally Available 12-Month CD Rate
Availability: 12-month CD, 2.25% APY, $1k minimum.

Availability: Nationwide

Last week’s CD Rates Summary includes a competitive 1-year CD offered by United Texas Bank (UTB), a bank that hasn’t had any great rates for some time. With across-the-board CD rate increases of between 55 and 165 bps, the UTB 12-month CD (2.25% APY) offers the most competitive rate in the product line. Any UTB CD can be opened with a $1k minimum deposit and with no stated balance cap.

As stated on the Certificates of Deposit page, the...

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State Bank of Texas Nationally Available 12-Month CD Rate Upped Again
Deal Summary: 12-month, 2.25% APY, $25k min/$250k max deposit.

Availability: Nationwide

State Bank of Texas (SBT) brought back its nationally available 12-month CD in December 2021 earning 0.85% APY which, at the time, was a competitive rate. In the past seven months, there have been six rates increases, adding a total of 140 bps. Currently earning 2.25% APY, the 12-month CD can be opened with a $25k minimum deposit and is capped at $250k.

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

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Capital One Has Rate-Leading 18-Month CD
Deal Summary: 18-month 360 CD, 2.50%, 360 Performance Savings account, 1.00% APY, no minimum deposit

Availability: Nationwide

Capital One did something that is rare. It increased a CD rate to a market-leading level. The rare event occurred on Thursday when Capital One increased the APY of its 18-month 360 CD from 1.50% to 2.50%. Capital One often has competitive rates on its CDs, but they are rarely top rates for online banks.

In 2021, the Capital One 360 18-month CD rate was stuck at 0.25%. That’s only one tenth...

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Bread Financial Substantially Raises All CD and Savings Account Rates
Deal Summary: Bread Savings CDs – 1-year (2.50% APY), 2-year (3.00% APY), 3-year (3.25% APY), $1.5k min/$1m max deposit per account. High-Yield Savings Account, 1.65% APY on all balances.

Availability: Nationwide (internet bank)

Just four weeks ago, Bread Financial (the former Comenity Direct) had across-the-board rate increases on its entire product line. Bread Financial again upped all its rates yesterday, but this time every CD and the High-Yield Savings had an additional 50 bps added to the APYs. While all the CDs now offer very...

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NASA Federal Credit Union Hikes CD Special Rates
Deal Summary: Share Certificate Specials – 9-month (2.00% APY), 15-month (2.50% APY), 49-month (3.00% APY), minimum $10k deposit of new money, rates guaranteed through June 30, 2022.

Availability: Easy membership requirement

For more than a year, NASA Federal Credit Union (NASA Federal) has offered month-long Share Certificate Specials (SCS). I was surprised there were no new SCS rates at the beginning of June, while so many other CD rates were increasing. As of yesterday, there are new SCS rates, albeit for a very short time.

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