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: Internet Banks

Colorado Federal Savings Bank Boosts 12-Month CD Rate (2.86% APY)
Deal Summary: 12-month CD (2.86% APY), $5k minimum deposit

Availability: Nationwide (internet bank)

Colorado Federal Savings Bank (CFSB) added 35 bps to its 12-month CD (2.86% APY) yesterday. This latest rate increase puts the 12-month just shy of being the top-rated nationally available 1-year CD (minimum deposits of $10k or less). The 12-month CD can be opened with a $5k minimum deposit, with no stated balance cap.

A total of 116 bps have been added to the 12-month CD in the past year in five rate...

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Best Bank Account Interest Rates - Summary For March 19, 2019
Best Bank Account Interest Rates - Summary For March 19, 2019

With the Fed anticipated to hold steady on rates for the next several months, internet banks have started to slow down their rate hikes of their savings and money market accounts. In the last two weeks, there were a couple of new promotional accounts with higher rates and a few rate increases, but there were no new ones with yields exceeding 2.50%. Below are the noteworthy savings, money market and checking account rate changes that have occurred in the last two weeks:

  • Customers Bank High-Yield Savings (new, 2.50% APY, $25k min)
  • MemoryBank...
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Discover Bank’s Latest Online Savings Account Bonuses
Deal Summary: $150 or $200 bonus when opening a new Online Savings account.

Availability: Nationwide (internet bank)

Discover Bank has been offering bonuses on new Online Savings accounts for several years. The latest one offers a bonus of up to $200 when opening a new Online Savings account by April 1, 2019. Here are the bonus details:

Bonus Requirements

  • Open an Online Savings account by April 1, 2019.
  • Use offer code NPBE319 when applying.
  • $150 bonus – fund with at least $15k by April 15, 2019.
  • $200 bonus – fund with at least...
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Capital One 360 Money Market®: Earn Up to $500 & a Top Rate on Qualifying Balances

This deal post was written by Lauren Perez

Deal Summary: $500 Bonus when you deposit $10k+ in new funds into a new 360 Money Market account and maintain at least $50k. $200 Bonus available when you maintain between $10k and $50k.

Availability: Nationwide

Capital One offers the chance to earn up to $500 in bonus money with its new money market account promotion. You must deposit at least $10k in new money within 10 days of enrollment, the Initial Funding Period. To earn the $500 bonus, you must then maintain a...

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MemoryBank Nudges Online Money Market To 2.45% APY
Deal Summary: Online Money Market Account, 2.45% APY on balances up to $1 million, $50 minimum opening deposit

Availability: Nationwide (internet bank)

While this week’s addition of 5 bps is a modest increase, the new 2.45% APY puts MemoryBank’s Online Money Market Account (OMMA) near the top for nationally available money markets. Added to the product line about nine months ago, the OMMA has added a total of 60 bps in four rate increases. The 2.45% APY applies to balances between $0.01 and $1 million, with balances...

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CD Rates Summary March 12, 2019
CD Rates Summary March 12, 2019

We are still seeing a slow decline in CD rates from the rate leaders. On the positive side, a few credit unions and banks have kept their CD specials.

Brokered CD Rates

The top 5-year brokered CD rate has now fallen below 3% (non-callable and new issue). Today at around 11:00 am, the top 5-year rate at both Fidelity and Vanguard was 2.95%. Two weeks ago, there was a 5-year rate of 3.15% at Fidelity and 3.05% at Vanguard. The 10-year and 7-year rates also had declines from two weeks ago. The...

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My eBanc Ups Super Saver Money Market To 2.25% APY
Deal Summary: Super Saver Money Market, 2.25% APY ($100k+), 2.00% APY (less than $100k), $5k minimum opening deposit.

Availability: Nationwide, internet bank

Two years ago, My e-Banc introduced its Super Saver Money Market Account (MMA), offering 1.11% APY on all balances. Following several rate increases and restructuring, the Super Saver MMA now has tiered APYs: 2.25% APY on balances of $100k and above, and 2.00% APY on balances below $100k.

Super Saver MMA Details

  • Opening Deposit – a minimum of $5k.
  • Check Writing – up to six...
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Goldman Sachs Bank USA Offers $100 Online Savings Account Bonus
Deal Summary: $100 Bonus when you deposit $10k+ in new funds into a new or existing Online Savings Account.

Availability: Nationwide

Goldman Sachs Bank USA (now operating under the brand Marcus by Goldman Sachs) has recently launched a savings account promotion. You can receive a $100 bonus when you deposit $10k or more in new money into a new or existing Online Savings Account within 10 days of enrollment, and maintain those funds and your current balance for 90 days. Enrollment must be done by either using the enrollment links...

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Best Bank Account Interest Rates - Summary For March 5, 2019
Best Bank Account Interest Rates - Summary For March 5, 2019

Below are the noteworthy savings, money market and checking account rate changes that have occurred in the last two weeks:

  • PurePoint Financial 13-month No-Penalty CD (new, 2.60% APY, $10k min)
  • USALLIANCE Financial High Yields Savings (+8 bps to 2.44% APY)
  • Live Oak Bank Savings Account (+5 bps to 2.30% APY)
  • Sallie Mae Bank Money Market (+10 bps to 2.30% APY)

Rate hikes are slowing down. Four weeks ago, there were ten rate hikes from the rate leaders. Two weeks ago there were eight rate hikes. Now there are only four.

One of the accounts with a...

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Sallie Mae Bank Money Market Rate Increases To 2.30% APY
Deal Summary: Money Market, 2.30% APY on all balances

Availability: Nationwide (internet bank)

In early November, Sallie Mae Bank raised the rates on its Money Market, High-Yield Savings, and several CDs, keeping the APYs within striking distance of the rate leaders. Since that time, Sallie Mae Bank hasn’t raised any rates, and in fact, it actually lowered its 12-month and 24-month CD rates in early February. Consequently, Sallie Mae Bank has fallen behind as competitor banks have been increasing rates.

Yesterday saw Sallie Mae Bank’s first rate increase in...

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