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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.


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Bank Deals Blog: Nationwide Deals

Update on PSECU’s Very Competitive Special CD Rates
UPDATE 11/18/19: Even though the special CD rates ended on Nov. 9th, PSECU members who call by 11/30/19 may be given these prior special CD rates. This may not apply to all members. Please refer to the comment thread that starts at comment #138 for details.

UPDATE 11/11/19: The special CD rates ended on Nov. 9th. Lower rates are now in effect for the 2-year, 3-year and 5-year terms.

The following was originally posted on 11/5/19.

I don’t have anything new to report on PSECU, but I thought a quick mention...

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TAB Bank's 12-Month CD Earns 2.25% APY
Availability: 12-month CD, 2.25 APY, $1k minimum deposit.

Availability: Nationwide through online application.

Although TAB Bank’s 12-month CD APY dropped by 44 bps in three rate decreases in the past year, its current 2.25% APY is quite competitive. In fact, it's now the highest rate that's available from an online bank. The minimum opening deposit is $1k, with no stated balance cap.

As stated in the Truth in Savings document, the Early Withdrawal Penalty reads as follows:

If your account has an original maturity of 12 months or less:...

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Andrews Federal Credit Union 84-Month CD (3.05% APY) Is A Rate Leader
Deal Summary: 84-month Share Certificate Special, 3.05% APY, $1k min/$250k max deposit, limit of one certificate per member.

Availability: Easy membership requirement

The 84-month Share Certificate Special (SCS) offered by Andrews Federal Credit Union (Andrews Federal) is nearing its one-year anniversary. Although its rate dropped in August from its initial 3.45% APY to 3.05% APY, the 84-month SCS is still a rate leader and is one of the few nationally available 3%+ CDs. The minimum opening deposit is $1k, with a balance cap of $250k. There’s...

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TotalDirectBank CDs Are Rate Leaders - 24-Month, 2.60% APY
Deal Summary: CDs – 12-month (2.36% APY), 24-month (2.60% APY), 36-month (2.60% APY), $25k minimum.

Availability: Nationwide, with the exception of California and Florida.

In September, I wrote about the new Direct Money Market Deposit Account (DMMDA) offered by Florida-based TotalDirectBank (TDB). The 2.35% APY on balances between $5k and $500k is still in effect. For more detail about the DMMDA, please refer the September 26 blog post.

In September, TotalDirectBank’s CD rates were fairly competitive, but in the past seven weeks as many other rates dipped, the...

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My eBanc 11-Month Flex Time Deposit New No-Penalty CD Rate Leader
Deal Summary: 11-month Flex Time Deposit, 2.00% APY ($10k min/$100k max), 1.90% APY ($100k+), two penalty-free partial withdrawals permitted.

Availability: Internet bank

Just as the nationally available CD rate leaders have been changing as rates have dropped, the hierarchy of no-penalty CDs has also been shifting. The current rate leader is My eBanc’s 11-month Flex Time Deposit, 2.00% APY ($10k-$100k) and 1.90% APY ($100k+). (Don't be confused by the unique name: the Flex Time Deposit is simply a no-penalty CD.)

The APYs aren’t outstanding, but the...

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FitnessBank Savings Account Still Leads But Rates Have Fallen
Deal Summary: Fitness Savings Account, 2.60% APY on balances over $100 when step requirements are met.

Availability: Nationwide (internet bank)

FitnessBank recently cut rates again on its Fitness Savings Account. The top rate fell from 2.75% to 2.60% APY at the start of November. For two months in the summer, the top rate had been 3.00% APY. After three Fed rate cuts that total 75 bps, a 40 bp rate cut seems reasonable. With a top rate of 2.60% APY, the Fitness Savings Account remains the rate leader for nationally...

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SallieMae Bank 12-Month CD Earns 2.35% APY
Deal Summary: 12-month CD, 2.35% APY, $2.5k minimum deposit

Availability: Nationwide (internet bank)

When I see a good rate these days, my first thought is, “I wonder how long it will last.” The only indication I could get from a SallieMae Bank CSR concerning the 12-month CD (2.35% APY) was, “we haven’t received any notification of an upcoming rate change.” While not exactly a guarantee of no impending rate change, that’s the only information CSR had to offer. Like all of SallieMae Bank’s CDs, the...

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NASA Federal Credit Union Ups Rates on 9-, 15- & 49-Month CD Specials
Deal Summary: New Share Certificate Special rates: 49-month, 2.60% APY; 15-month, 2.50% APY; 9-month, 2.35% APY; minimum deposit of $10k, new money.

Availability: Easy membership requirement

Falling rates is the news for most deposit accounts today, but I did find a little bit of good news for savers. NASA Federal Credit Union (NASA FCU) increased the rates of three of its Share Certificate Specials (SCS) by 10 to 20 basis points. All three are now very competitive. The three SCSs have terms of 49 months (2.60% APY),...

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American 1 Credit Union Offers Competitive 2-Year and 3-Year CDs
Deal Summary: 2-year CD (2.50% APY), 3-year CD (2.75% APY), $500 minimum deposit. 5-year IRA Certificate (3.03% APY), $50 minimum deposit.

Availability: Easy membership requirement.

Two of the CDs offered by Michigan-based American 1 Credit Union (American 1) have become competitive in the last month. The rates on the 2-year CD (2.50% APY) and 3-year CD (2.75% APY) were raised in late July and have been in effect since that time. With so many CD rates falling, the 2- and 3-year CDs are now within reach...

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America's Credit Union Offers 2.38% On 12-Month CD
Deal Summary: 12-month Standard CD, 2.38% APY, $500 minimum deposit

Availability: Easy membership requirement

America's Credit Union (ACU) has a 12-month Standard CD (2.38% APY) that’s only become competitive recently. While the 2.38% APY has been in effect for almost a year, that rate started looking good in the last couple of weeks. The minimum opening deposit is $500, with no stated balance cap.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

Funding can be done by ACH, wire transfer, or check....

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