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: Nationwide Deals

Rate Leading History of the T-Mobile MONEY Checking Account

I was reviewing my old liquid summaries, and I noticed that T-Mobile MONEY Checking account has been included in the summaries with a 1% APY for more than nine months. I first mentioned the account in the summary on October 13th. Amazingly, the 1% APY has held.

Other fintechs haven’t shared this rate longevity. Last October, the fintechs Affirm and Chime were also offering 1% APY. The Affirm savings account maintained 1% APY until December when the rate fell to 0.65%. That rate is still in effect, which is...

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Comenity Direct Product Line Remains Competitive
Deal Summary: CDs – 1-year (0.70% APY), 2-year (0.75% APY), 3-year (0.85% APY), 4-year (0.85% APY), and 5-year (0.90% APY), $1.5k min/$10m max deposit. High-Yield Savings Account, 0.55% APY on balances of $1-$10 million.

Availability: Nationwide (internet bank)

When I wrote about the five CDs in the Comenity Direct product line in May 2019, I described the rates (ranging from 2.86% to 3.05%) as “good but not great.” Those “good” rates lasted about two months before the entire CD product line began a series of 15 rate...

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NexBank's Nationally Available 12-Month CD Is A Near Rate Leader
Deal Summary: 12-month CD, 0.75% APY, $10k minimum/$240k maximum deposit.

Availability: Nationwide through online application.

If you look at Texas-based NexBank's page on DA, you will see a string of 0.75% APYs under the CD Rates heading. This is not an error: more than three years ago, NexBank began offering the same rate on its 12-, 18-, 24-, 36-, 48, and 60-month CDs.

The current 0.75% APY has been in effect for about 15 months, becoming quite competitive as other nationally available 1-year CDs have experienced...

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Review of MapleMark Bank’s Market-Linked CD
Deal Summary: 5-year term, Max APY: 2%, Min APY: 0%

Availability: Nationwide

Last month, I reviewed the traditional CDs from MapleMark Bank. Those CDs remain competitive, but in today’s low interest rate environment, it’s hard to find any CD attractive. If you’re looking for the potential for higher yield without risking your principal, MapleMark Bank’s new Market-Linked CD may be something to consider.

It has been a long time since I reviewed any market-linked CDs. In the past, they’ve been called by other names, such as Equity-Index CDs and Market...

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CFG Bank's 13-Month Penalty Free CD Is Top Rate No Penalty CD
Deal Summary: 13-month Penalty Free CD, 0.62% APY, $500 min/$250k max deposit, one penalty-free withdrawal.

Availability: Nationwide through online application

As of yesterday, the bi-weekly Liquid Summary has been reorganized, with the No-Penalty CDs having their own category. The 13-month Penalty Free CD (0.62% APY) offered by CFG Bank has been the rate leader for no-penalty CDs for quite some time.

It’s been more than six years since I first wrote about 13-month Penalty Free CD. At that time, the Penalty Free CD was only available in eastern Maryland,...

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Connexus Credit Union Restructures Money Market Account
Deal Summary: Money Market Account, 0.85% APY ($100k+), 0.60% APY ($20k+), 0.25% APY ($1k+), $1k minimum opening deposit.

Availability: Easy membership requirement

As DA reader, bwrensch, noted in a recent Forum post, Wisconsin-based Connexus Credit Union (Connexus) restructured its Money Market Account (MMA) at the beginning of the month. In addition to offering a lowered top rate (0.85% APY), the MMA now has just three rate tiers, with the $50k and $10k tiers having been eliminated.

The other big change is the elimination of the active...

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Abound Credit Union Ups 24-Month And 36-Month CD Rates
Deal Summary: CDs – 6-month (0.50% APY), 24-month CD (0.85% APY), 36-month CD (0.95% APY), $500 minimum deposit.

Availability: Easy membership requirement

Kentucky-based Abound Credit Union (Abound CU) ended the week by raising the rates on its 6-month CD (0.50% APY), 24-month CD (0.85% APY), and 36-month CD (0.95% APY). While the 6-month CD experienced the largest rate increase (15 bps), the 24- and 36-month CDs offer the more competitive rates. The minimum opening deposit is $500, with no stated balance cap.

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Great Lakes Credit Union Offers Competitive Companion Money Market
Deal Summary: FREE Checking, 2.50% APY on qualifying balances up to $10k. Companion Money Market, 0.70% APY on qualifying balances greater than $10k.

Availability: Easy membership requirement

Illinois-based Great Lakes Credit Union’s (GLCU) FREE Checking/Companion Money Market combo functions like a rewards checking/saver combo.

FREE Checking

GLCU's rewards checking account, FREE Checking, currently earns 2.50% APY on qualifying balances up to $10k. Qualifying balances over $10k and non-qualifying balances both earn 0.01% APY.

The monthly qualification requirements include,

  • At least 15 signature-based (no PIN) debit card transactions
  • At least...
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Quontic Bank Brings Back Its 5-Year CD
Deal Summary: 5-year CD, 1.11% APY, $500 minimum deposit

Availability: Nationwide through online application

About a month ago, I wrote about the CD rate increases at New York-based Quontic Bank (Quontic). At that time, there were four CDs (6-month, 1-, 2-, and 3-year) in the product line. Quontic re-introduced the 5-year CD at the beginning of July (after an absence of about a year) with a good-but-not-great rate of 1.11% APY.

Much of the following information was taken from the Quontic FAQs, which are listed at the...

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Verdian Credit Union Adds Top Rate 9-Month Jumbo CD Special
Deal Summary: 9-month Jumbo CD Special, 0.85% APY, $100k minimum deposit

Availability: Easy membership requirement through Dwolla; residents of all 99 Iowa counties and six southeast Nebraska counties.

One of the competitive “New to Summary” CDs in this week’s CD Rates Summary is Veridian Credit Union's (Veridian) 9-month Jumbo CD Special, which currently earns 0.85% APY. The minimum opening deposit is $100k, with no stated balance cap. The CD Special is also offered as “non-Jumbo” CD Special, which can be opened with a $1k minimum deposit and earns...

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