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: Online Savings Account, 1.01% APY, No minimum balance
Availability: Internet Bank
Today Discover Bank increased the rate of its Savings Account from 0.95% to 1.01% APY. While this isn’t an exceptional rate for an online savings account, it’s another sign that banks are slowly starting to respond to the Fed rate hikes. Discover Bank is one of the big internet banks, and it’s always nice to see rate hikes at these banks.
The 1.01% APY applies to all balances. In March, Discover Bank removed the $500 minimum deposit...
SmartyPig is ending the week by not only raising the rate on its SmartyPig Savings account (1.12% APY, $50k+), but by also restructuring its rate tiers.
For those not familiar with SmartyPig, it’s not your typical savings account. SmartyPig Savings is built around a savings goal concept: you set the amount of a savings goal you want to reach at some...
Deal Summary: Online Savings Account, 1.05% APY, No minimum balance
Availability: Internet Bank
This morning, Ally Bank increased the rate of its Online Savings Account by 5 bps. The new rate is now 1.05% APY. This also applies to the IRA Online Savings Account. The 1.05% APY applies to all balances. The account has no monthly maintenance fees and no minimum balance requirement.
Last month’s Fed rate hike appears to be having some effect. On Monday, Ally increased its 5-year CD rate to a level not seen since 2011,...
UPDATE 4/20/2017: Offer has been extended through May 31, 2017, and has a new coupon code (SAVE417E1).
Deal Summary: $100 bonus on new Online Savings account.
Availability: Nationwide (internet bank)
Discover Bank is offering a $100 bonus when opening a new Online Savings account with a minimum deposit of $15k. This promotion is for customers who have never had a Discover Bank Online Savings or Money Market account.
$100 Bonus Requirements
Open an Online Savings account by March 3 May 31, 2017.
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,...
Deal Summary: Kasasa Cash, 2.15% APY up to $25k; Kasasa Saver, 1.00% APY up to $50k
Availability: Kasasa Cash and Kasasa Saver are available to all U.S. citizens.
Georgia Banking Company has added a new Kasasa Cash account which earns 2.15% APY on qualifying balances up to $25k. Qualifying balances of $25k+ earn 0.40% APY, with non-qualifying balances earning 0.02% APY.
Kasasa Cash Qualifying Requirements
Have at least 12 debit card purchases.
Be enrolled and receive eStatements.
The Kasasa Cash account has no minimum balance requirement, monthly...
Deal Summary: 19-Month CD Special, up to 1.59% APY; 33-month CD Special, up to 1.79% APY; new money required.
Availability: Easy membership requirement
McGraw-Hill Federal Credit Union’s (McGraw-Hill FCU) 17-month Promotional Certificate has been removed from the product line, but the Credit Union has added a 19-month and a 33-month CD Special with tiered APYs. Both CD Specials require new money, which is defined as funds that have not been on deposit "for more than 30 business days.”
Both CD Specials are also available as IRAs (Traditional, Roth, CESA)...