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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Bank Deals Blog: CD Deals

Sandy Spring Bank (MD/VA) Has $150 Checking Bonus
Deal Summary: $150 Checking Bonus; 27-month Premier CD Special, 1.75% APY, $10k minimum, checking relationship required.

Availability: Market area includes portions of Maryland and Northern Virginia.

At the end of February, the $150 checking bonus being offered by Sandy Spring Bank expired. The Bank is again offering a $150 bonus (available through May 31, 2017), but this time a Direct Deposit is required, with no debit card purchase transactions required.

Bonus Requirements

  • Open a new checking account online, in-branch, or by phone.
  • Enroll in eStatements
  • Minimum $250 in Direct Deposit...
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Horizon Credit Union Has 13- And 26-Month Special Certificates
Deal Summary: 13-month Special Certificate (1.46% APY, $1k minimum); 26-month Special Certificate (1.71% APY, $1k minimum, new money).

Availability: Residents of Washington State, eight Idaho Panhandle Counties, and 14 western Montana Counties.

Washington-based Horizon Credit Union (Horizon CU) has raised the rates on its 13-month Special Certificate (1.46% APY) and 26-month Special Certificate (1.71% APY). The minimum opening deposit is $1k, with no stated balance cap. According to the fine print on the Rates page, the 26-month Special Certificate requires new money, while the 13-month Special...

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Blackhawk Community Credit Union (WI) Adds 6-Year CD
Deal Summary: 6-year CD, 2.40% APY, $1k minimum deposit

Availability: Residents of the Wisconsin counties of Dane, Green, Jefferson, Kenosha, Racine, Rock, Walworth, and Waukesha, and Boone and Winnebago Counties in Illinois; 8 SEGs.

Blackhawk Community Credit Union (Blackhawk) is currently offering a 6-year CD (2.40% APY). The minimum deposit is $1k, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty (EWP) for the 6-year CD Special is a mild 180 days interest. Using DA’s EWP Calculator, it’s easy to see exactly how...

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Providence Bank (MO/IL) Raises Rates On CD Specials
Deal Summary: 9-month CD Special (1.25% APY); 15-month CD Special (1.50% APY); additional 0.05% or 0.10% w/active checking and/or age 55+; minimum deposit of $5k.

Availability: Market area is Missouri and southern Illinois (St. Louis metro area).

Providence Bank has raised the rates on its 9-month CD Special (1.25% APY) and15-month CD Special (1.50% APY). The minimum deposit is $5k, with no stated balance cap. This week’s 25 bps increase has resulted in the highest APYs ever for both CD Specials.

An additional 0.05% is available with an...

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No Penalty 18-Month CD Available At Asian Bank (PA)
Deal Summary: No Penalty 18-month CD, 1.28% APY, $1k minimum deposit, new money.

Availability: Market area includes southeast Pennsylvania, portions of south New Jersey, portions of New York City, and northern Delaware.

Philadelphia-based Asian Bank is currently promoting a limited-time No Penalty 18-month CD (1.28% APY). The minimum deposit is $1k of new money, with a maximum deposit of $250k.

The promotional page states:

Thanks to DA reader, terryb, for the Forum post about the No Penalty 18-month CD.

Availability

When I last wrote about Asian Bank,...

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SouthEast Bank (TN) Adds Two CD Specials
Availability: 15-month CD Special (1.51% APY); 60-month CD Special (2.51% APY); $1k minimum deposit

Availability: Market area includes East and Middle Tennessee.

SouthEast Bank is currently featuring two CD Specials: 15-month (1.51% APY) and 60-month (2.51% APY). The minimum deposit is $1k, with no stated balance cap. The CD Specials are advertised as limited-time specials, but no specific end-date is stated.

When I ask CSR about the Early Withdrawal Penalty (EWP), I’m used to hear something along the lines of “six months, nine months,” etc. SouthEast...

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Celebrate With NorthWest FCU's 30-Month Certificate (2.02% APY)
Deal Summary: 30-month Celebration Certificate, 2.02% APY, $1k min/$500k combined max per member.

Availability: Easy Membership Requirement

For a limited time, Northwest Federal Credit Union (NWFCU) is offering a 30-month Celebration Certificate (2.02% APY). The minimum deposit is $1k, and there is a $500k combined maximum deposit per member, trust membership, or estate. (I’m not sure what the occasion is, but I suspect it has something to do with NWFCU’s upcoming 70th anniversary.)

The Celebration Certificate is also available as an IRA (Traditional,...

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CenterBank (OH) Adds 17-Month Anniversary Special CD
Deal Summary: 17-month Anniversary Special CD, 1.70% APY, $500 min/$100k max, new money required.

Availability: “Must be a consumer residing in greater Cincinnati.”

CenterBank is celebrating its 17th anniversary with a 17-month Anniversary Special CD (1.70% APY).The minimum deposit is $500 of new money, with a maximum $100k per household.

According to CSR, the Early Withdrawal Penalty is formulaic, using the amount withdrawn and length of term left until maturity as variables.

Availability

Headquartered in Milford, in southwestern Ohio, CenterBank’s market area is comprised of the...

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MutualOne Bank Offers 61-Month CD (2.53% APY) Nationwide
Deal Summary: 61-Month CD, 2.53% APY, $500 minimum deposit

Availability: Nationwide.

At the end of last week, Massachusetts-based MutualOne Bank added a 61-month CD (2.53% APY). The minimum opening deposit is $500, with no stated balance cap.

The 61-month CD is also offered as an IRA (Traditional, Roth), earning the same APY with the same funding requirements.

As stated on MutualOne Bank’s Consumer Disclosure page, the Early Withdrawal Penalty reads as follows:

SIF Deposit Insurance

For those with large savings, MutualOne Bank offers more protection through its Share Insurance Fund (SIF)...

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Ally Bank Ups 5-Year CD Rate to Highest Level Since 2011

Deal Summary: 60-month CD, 2.25% APY, No minimum deposit

Availability: Internet Bank

Today, Ally Bank increased the rate of its 5-year High Yield CD by 25 bps. The new rate is now 2.25% APY, with no minimum deposit. This change also applies to Ally’s 5-year IRA CD.

This new 5-year CD rate is the highest at Ally since August 2011. It’s a positive sign that we may actually be at the start of a rising interest rate environment.

Ally’s 5-year CD has gone through a few rate and tier...

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