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: Nationwide Deals

CFG Bank High Yield Money Market Is New Rate Leader
Deal Summary: Online CFG High Yield Money Market, 1.02% APY ($1k+), new money. 13-month Penalty Free CD, 1.07% APY, $500 min/$250k max deposit, one penalty-free withdrawal.

Availability: Nationwide through online application

As DA reader, midas89, noted in a Forum post last week, CFG Bank’s (CFG) nationally available High Yield Money Market (HYMM) had a rate increase of 20 bps. It currently earns 1.02% APY on balances of $1k and above. The minimum opening deposit is $1k and new money is required.

A Little History

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USALLIANCE Financial Boosts High Dividend Savings Rate
Deal Summary: High Dividend Savings, 1.00% APY on balances of $500 and above.

Availability: Easy membership requirement.

More than three years ago, New York-based USALLIANCE Financial (USALLIANCE) introduced the High Dividend Savings (HDS) account with an initial 2.30% APY. The HDS offered a competitive rate for about seven months before the APY began dropping. Between March 2020 and February 2022, the APY was anything but competitive. A recent increase of 35 bps boosted the rate to 1.00% APY, once again putting the HDS in good company....

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Ally Bank Hikes CD Rates Again, 20-Month Select CD Rises to New High
Deal Summary: Ally Bank CD rate increases - Noteworthy ones include 20-month Select CD (2.00% APY) and 9-month High Yield CD (1.00% APY), no minimum balance.

Availability: Nationwide (online bank)

This has been a busy week at Ally Bank. On Wednesday, Ally Bank finally increased the rate of its Online Savings Account. It was just a 10-bp rate hike that increased the rate to 0.60%, but it finally moved the rate above the rate bottom that the account had been stuck at since December 2020. Ally Bank’s Money Market also...

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State Bank of Texas Has Competitive 12-Month CD and Jumbo Money Market
Deal Summary: 12-month, 1.85% APY, $25k min/$250k max deposit. Jumbo Money Market, 1.15% APY, $100k min balance.

Availability: Nationwide

Five months ago, State Bank of Texas (SBT) brought back its nationally available, limited-time 12-month CD earning 0.85% APY. The 12-month CD is again available with a highly improved 1.85% APY. The minimum opening deposit is $25k, and there is a cap of $250k.

According to CSR, the Early Withdrawal Penalty for the 12-month CD is a very mild 30 days of interest....

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KS StateBank Pushes All CD and Jumbo CD Rates Upward
Deal Summary: CDs ($500 min) and Online Jumbo CD Specials ($100k min) – 1-year (2.00% APY), 18-month (2.30% APY), 2-year (2.60% APY), 3-year (2.85% APY), 4-year (2.90% APY), and 5-year (3.00% APY).

Availability: Nationwide

This is the fourth blog post about the KS StateBank CDs since mid-February. While all of the KS StateBank nationally available CDs have experienced significant rate increases in the past three months, the longer-term CDs have had dramatic increases of between 110-125 bps during the same...

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Crescent Bank Now Offers Very Competitive CDs Nationwide
UPDATE 5/13/2022: Crescent Bank CD rates have dropped.

Deal Summary: Online CDs – 12-month (2.10% 1.75% APY), 18-month (2.30% 2.00% APY), 24-month (2.50% 2.20% APY), 36-month (2.90% 2.30% APY), 48-month (3.00% 2.50% APY), 60-month (3.10% 2.75% APY), $1k minimum deposit of new money, rates may change on May 13, 2022.

Availability: Nationwide (online application)

It’s been four years since I last wrote about Crescent Bank. At that time, the product line (including CDs) was offered exclusively to Louisiana residents. As I was doing preliminary work for this week’s...

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Seattle Bank Now Offers Product Line Nationwide
Availability: Bump Up CDs – 24-month (1.71% APY) and 36-month (1.82% APY), $1k min/$220k max deposit.

Availability: Nationwide through online application

Before anyone feels the need to comment on the competitiveness of the Seattle Bank two Bump Up CDs, please understand this blog post serves an introduction to one of latest banks offering CDs on a nationwide basis.

At the beginning of the month, Seattle Bank substantially raised the rates of the majority of its CDs and unveiled the two Bump Up CDs. Although the CDs had rate...

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My Banking Direct Ups High Yield Savings Rate While Money Market Lags
Deal Summary: High Yield Savings, 1.00% APY on balances of $1+, $500 minimum opening deposit.

Availability: Nationwide (internet bank)

I first reviewed New York-based My Banking Direct in 2005 when it was offering competitive rates on its money market account. During its history, the My Banking Direct Money Market had periods when it was competitive, but that ended in March 2020 when the top-tier rate fell to 0.25%. The Money Market rates haven’t changed, but in early February, My Banking Direct launched the High Yield Savings account with rates that...

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Bask Bank Interest Savings Account Soars To Rate Leader Level
Deal Summary: Bask Interest Savings Account, 1.25% APY, no minimum opening deposit.

Availability: Nationwide (internet bank)

Customers of Bask Bank received a cheerful email yesterday.

For the last couple of years, Bask Bank (internet division of Texas Capital Bank) was offering only one savings account, the Bask Mileage Savings Account, which earns a single American Airlines AAdvantage® mile for every dollar saved annually. In October 2021, the Bask Interest Savings Account was launched with a 0.60% APY, but could only be opened by existing Bask Mileage Savings Account holders....

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Live Oak Bank Substantially Boosts Rates On All CDs
Deal Summary: Most noteworthy CD rate increases – 6-month (1.25% APY), 18-month (2.00% APY), 5-year (2.75% APY), $2.5k min/$250k max deposit

Availability: Nationwide (internet bank)

Three weeks ago, North Carolina-based Live Oak Bank (Live Oak) had substantial across-the-board CD rate increases, making its shorter-term CDs near-rate leaders or rate leaders. Following yesterday’s rate increases of 50-75 bps, Live Oak has again secured a position at the head of the rates peloton. Of the seven CDs in the product line, the 6-month (1.25% APY), 18-month (2.00% APY), and 5-year...

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