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: Receive a 1% cash bonus of up to $500 for new deposits of $1k+ into a new or existing Online Savings Account.
Goldman Sachs Bank USA (Marcus) has recently launched a new savings account promotion which allows you to earn up to $500. It’s similar to their March promotion, but this one allows you to earn a lot more. The only mention of this promotion is on this Marcus landing page, which has the following promotion summary:
With interest rates starting to fall, bonuses might become a...
Deal Summary: 12-month Add-On IRA Special, 3.30% APY, $500 minimum deposit, additional deposits limited by personal tax contribution limits.
Availability: Easy membership by joining CU Savers ($10 one-time membership fee); residents of certain Tampa Zip Codes; SEGs.
Florida-based GTE Financial has raised the rate on its 12-month Add-On IRA Special to 3.30% APY. The minimum opening deposit is $500, with no stated balance cap. There’s also a Jumbo version of the 12-month IRA Special, requiring a $100k minimum deposit, but it earns the same 3.30% APY....
In May, Hiway Federal Credit Union (Hiway FCU) added a 14-month Certificate earning 2.70% APY. At the time, 2.70% APY wasn’t a very impressive rate for a 1-year CD, but as rates have drifted downward, the 14-month Certificate has become competitive. While the majority of Hiway FCU’s Certificates have tiered APYs based on deposit levels of $500, $10k, and $25k, the...
Availability: Nationwide with religious affiliation
Wisconsin-based Thrivent Federal Credit Union (TFCU) has two very competitive long-term Share Certificates: 60-month (3.25% APY) and 48-month (3.05% APY). The minimum opening deposit for either Share Certificate is $1k, with no stated balance cap.
As stated in the Service Fees brochure, the Early Withdrawal Penalty reads as follows:
Terms of 30 months to 60 months: 365 days’ dividend.
Funding a Share Certificate can be done by ACH, wire transfer,...
Availability: Nationwide through online application.
As other banks have been cutting their 5-year CD rates, Chicago-based The Federal Savings Bank (TFSB) has been holding steady with a rate that is now near the top for nationally available 5-year CDs. TFSB is offering 3.30% APY on its 5-year Promotional CD. The minimum opening deposit is $10k of new money, which is defined as “funds not currently on deposit with The Federal Savings Bank.”
Deal Summary: Preferred Plus Money Market, 2.35% APY, $50k min; Savvy Savings, 2.27% APY, $10 min; Envision Max Checking (rewards checking account), 2.55% APY, up to $25k.
Availability: Nationwide, with the exception of New York State.
Massachusetts-based Envision Bank (formerly Randolph Savings Bank) is now offering a large portion of its product line in 49 states through its online application (New York State is excluded). Envision Bank’s Preferred Plus Money Market, Savvy Savings, and Envision Max Checking accounts can all be opened online and funded by ACH transfer.
Deal Summary: Vertical Checking (rewards checking), 3.30% APY on qualifying balances up to $20k.
Availability: Easy membership requirement
It’s been more than two years since I last wrote about Evansville Teachers Federal Credit Union’s (ETFCU) rewards checking account, which, at the time, earned 3.00% APY on qualifying balances up to $15k. Nothing about the Vertical Dividend Checking had changed since it was introduced in late 2014 … until now.
Availability: Nationwide, but a military relationship required for membership.
It’s another good news Monday at Navy Federal Credit Union (Navy Fed). The 5-year Share Certificate rate has been increased to 3.50% APY on all tiers. Minimum deposit is $1k. There is no maximum deposit. This is just a standard type of Certificate. There are no special features. For example, add-on deposits are not allowed until maturity.
The Share Certificate is also available as an IRA (Traditional, Roth, SEP, ESA), earning the...
Deal Summary: 9-month CD Special, 2.75% APY, $500 minimum deposit.
Availability: Easy membership requirement
It’s been almost a year since I wrote about Virginia-based Chartway Federal Credit Union (Chartway). At that time, Chartway’s 12-month No Penalty Share Certificate was earning 2.00% APY. By March, the rate had been raised to 2.20% APY, but fell to 1.80% APY in early June. It was nice while it lasted.
Chartway’s new CD “du jour” is a 9-month CD Special, with a competitive 2.75% APY. With the highest APY...