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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

WebBank's High-Yield Savings Glides Into 2.50% APY
Deal Summary: High-Yield Savings Account, 2.50% APY, $1k minimum deposit and balance

Availability: Nationwide (internet bank)

There was movement today in the savings account rates peloton, with WebBank’s High-Yield Savings Account breaking away to match the 2.50% APY offered on USALLIANCE Financial’s High Dividend Savings. The minimum deposit required to open and earn the stated APY is $1k, with initial funding capped at $500k. 2.50% APY seems to be the “rate du jour” for nationally available liquid accounts, with three savings and five money market accounts...

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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 June 3, 2019. Here are the bonus details:

Bonus Requirements

  • Open an Online Savings account by June 3, 2019.
  • Use offer code NPBE519 when applying.
  • $150 bonus – fund with at least $15k by June 17, 2019.
  • $200 bonus – fund with at least...
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Best Bank Account Interest Rates - Summary For May 14, 2019
Best Bank Account Interest Rates - Summary For May 14, 2019

This was another week with only a few rate changes on savings and money market accounts. Unfortunately, one was a rate cut. Most of the internet banks have kept their savings account rates unchanged since early this year. This will likely continue as long as the Fed holds rates steady. Below are the noteworthy savings and money market account rate changes that have occurred in the last two weeks:

  • Investors eAccess 6-mo No Penalty CD (new, 2.50% APY, $500 min)
  • USALLIANCE Financial High Dividend Savings (+3 bps to 2.50% APY, $500 min)
  • CIT...
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CD Rates Summary May 7, 2019
CD Rates Summary May 7, 2019

With the start of May, we’ve seen rate cuts on many of the most competitive CDs. In addition, several CD specials have ended. There have been a few rate hikes and new CD specials, but overall, there have been many more CD rate cuts than hikes in the last two weeks.

Brokered CD Rates

Most of the top brokered CD rates remained unchanged from two weeks ago. That is a nice change from previous weeks when we were seeing rate cuts on most terms at every CD summary. The top 1-year rate...

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Comenity Direct 1-Year CD Earns 2.86% APY
Deal Summary: CDs – 1-year (2.86% APY), 2-year (2.98% APY), 3-year (3.05% APY), 4-year (3.10% APY), and 5-year (3.15% APY), $1.5k min/$10m max deposit

Availability: Nationwide (internet bank)

Two weeks ago, I wrote about Comenity Capital Bank’s new online division, Comenity Direct, and its High-Yield Savings Account (2.48% APY). There are also five CDs in the product line that offer good (but not great) rates, with the 1- and 3-year CDs having the most competitive rates. Any of the CDs can be opened with a minimum $1.5k...

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Investors eAccess Adds 6-Month No Penalty CD, 2.50% APY
Deal Summary: 6-month No Penalty CD, 2.50% APY, $500 minimum deposit, early closure only.

Availability: Nationwide (internet bank)

About a month, I wrote about Investors eAccess’ inaugural product, the eAccess Money Market account, which earns 2.50% APY on all balances up to $2 million. Investors eAccess has recently expanded its product line with a 6-month No Penalty CD (2.50% APY) and a 10-month CD (2.70% APY). Either CD can be opened with a minimum $500 deposit. Of the two, the No Penalty CD is the...

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Best Bank Account Interest Rates - Summary For April 30, 2019
Best Bank Account Interest Rates - Summary For April 30, 2019

Only a couple of banks changed rates on their savings and money market accounts in the last two weeks. Most of the internet banks have likely finished their rate hikes in response to the last Fed rate hike in December. With the Fed holding rates steady for the foreseeable future, we may not see many rate changes on liquid accounts. Below are the noteworthy savings, money market and checking account rate changes that have occurred in the last two weeks:

  • Comenity Direct High-Yield Savings (new, 2.48% APY, $100 min)
  • WebBank High Yield...
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earn.bank Nudges Money Market Account APY To 2.46%
Deal Summary: Money Market Account, 2.46% APY on all balances, $10k minimum opening deposit

Availability: Nationwide (internet bank)

About six months ago, earn.bank made its internet banking world debut, offering a Money Market Account (MMA) and two CDs. The MMA offered an initial (and respectable at the time) 2.02% APY on all balances. Within one month, the rate jumped to 2.31% APY, making it the top-rated nationally available money market account. The rate was raised to 2.41% APY on all balances in January and as of last...

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Comenity Direct Unveils High-Yield Savings, 2.48% APY
Deal Summary: High-Yield Savings Account, 2.48% APY on balances between $1- $10m, $100 min opening deposit

Availability: Nationwide (internet bank)

Comenity Direct (an online division of Comenity Capital Bank) has introduced its High-Yield Savings Account (HYSA), which currently earns 2.48% APY on balances between $1 and $10 million. This new account is now the rate leader for nationally available savings accounts with low minimum balance requirements. The HYSA can be opened with a minimum $100 deposit.

Comenity Direct also offers five competitive CDs with terms from...

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CD Bank Offers Top-Rate 24-Month CD, 3.20% APY
Deal Summary: CDs – 6-month (2.75% APY), 12-month (3.00% APY), 18-month (3.10% APY), 24-month (3.20% APY), $10k minimum deposit.

Availability: Nationwide (internet bank)

The lead-in for the CD Bank July 2018 blog post was,

Nine months later, Texas-based CD Bank is leading with another top rate: 3.20% APY on its 24-month CD. The minimum deposit is $10k, with no stated balance cap.

CD Bank opened its virtual doors in May 2017. Since then, the 24-month CD has nearly doubled its initial rate, going from...

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