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

Nationwide Bank Adds 41 Basis Points To 12-Month CD
Deal Summary: 12-month CD, 1.46% APY ($100k+), 1.41% APY ($500+); 24-month CD, 1.66% APY ($100k+), 1.61% APY ($500+).

Availability: Nationwide (internet bank)

Ohio-based Nationwide Bank raised the rates on its 12-month CD (1.46% APY) and 24-month CD (1.66% APY) yesterday. The minimum opening deposit to earn these APYs is $100k, with no stated balance cap. Of the two, the 12-month CD is the more competitive.

Nationwide Bank CDs are also offered with APYs a uniform 5 basis points lower for deposits of less than $100k.

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Capital One Raises 360 Money Market Rate
Deal Summary: 360 Money Market, 1.10% APY ($10k+), 0.60% APY (up to $9,999.99)

Availability: Nationally available

In March 2016, a new Money Market account was unveiled by Capital One 360, the now defunct online banking subsidiary of Capital One Financial Corporation. Earlier this year, Capital One 360 was quietly absorbed into Capital One, although the “360” moniker is now attached to the majority of Capital One products.

The 360 Money Market maintained its 1.00% APY on balances of $10k+ throughout the past 15 months, and today the rate was...

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Popular Direct Raises 2-Year CD Rate
Deal Summary: 2-Year Popular Direct CD (1.80% APY), 5-year Popular Direct CD (2.35% APY), $10k minimum

Availability: Nationwide (internet bank)

In a May Forum post, I noted a rate increase for Popular Direct’s 2-year and 5-year Popular Direct CDs. While there has been no additional increase for the 5-year CD (currently 2.35% APY), ten more bps were added last week to the 2-year CD (1.80% APY). The minimum opening deposit for any Popular Direct CD is $10k, with no stated balance cap.

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State Bank of Texas Ups Jumbo MMDA To 1.55% APY ($100k+)
Deal Summary: Jumbo MMDA (money market), 1.55% APY, $100k minimum.

Availability: Nationwide

In the past 16 months, I have written about State Bank of Texas’ (SBT) Jumbo MMDA three times. Since February 2016, the competitive Jumbo MMDA was available only in Chicago, then offered nationwide, then withdrawn completely for a short time, and then reinstated as a nationally available product in late August.

Last week, SBT raised the rate on the Jumbo MMDA to 1.55% APY on balances of $100k+, and CSR confirmed that it is still available nationwide.

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TIAA Direct Syncs CD Rates With EverBank Following Acquisition
Deal Summary: 12-months CD, 1.45% APY; 18-months CD, 1.52% APY; 24-months CD, 1.70% APY; $1k minimum deposit.

Availability: Nationwide (internet bank)

TIAA Direct has substantially raised the rates on all its CDs, with increases ranging from 37 to 76 bps. Of those CDs, the 12-months CD (1.45% APY), 18-months CD (1.52% APY), and 24-months CD (1.70% APY) are the most competitive. The minimum opening deposit is $1k, with no stated balance cap. Note: While three balance tiers ($1k, $100k, and $250k) are listed on TIAA’s website,...

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BankDirect Hikes Money Market Rate By 101 Basis Points
Deal Summary: Money Market, 1.16% APY, $10k minimum

Availability: Nationwide (internet bank)

Since the beginning of June, I have written twelve blog posts about rate increases on nationally available liquid accounts (savings, MMA, checking). With this week’s rate increase on BankDirect’s Money Market Account (1.16% APY), this becomes the thirteenth.

BankDirect’s Money Market Account can be opened with a $500 minimum deposit, but the minimum balance to earn the stated APY is $10k. As stated in the Disclosure Booklet,

The new 1.16% APY is not “wow-worthy” in itself, but this...

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INSBANK (TN) Adds Nationally Available 23-month CD (1.85% APY)
Deal Summary: 23-month CD (1.85% APY), 16-month CD (1.50% APY), $25k minimum deposit.

Availability: Nationwide

Earlier this week, a long-time DA reader told me about two nationally available CDs at Tennessee-based INSBANK, which he saw advertised in the Tennessean. INSBANK is currently offering a 23-month CD (1.85% APY) and a 16-month CD (1.50% APY) nationwide. Of the two, the 23-month CD is the more competitive.

The minimum opening deposit for either CD is $25k, with a balance cap of $249k per CD. This is a limited-time offer,...

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All America Bank's Mega Money Market Now Earns 1.50% APY ($35k Max)
Deal Summary: Mega Money Market, 1.50% APY (up to $35k), minimum $50 opening deposit.

Availability: Nationwide

All America Bank (and its online “country cousin” division, Redneck Bank) raised the rate on its Mega Money Market (1.50% APY) by 25 bps yesterday. While the Mega Money Market has no minimum balance requirement, the 1.50% APY is capped at $35k; balances of $35k+ earn 0.50% APY.

All America Bank has been offering the Mega Money Market since 2009, with an initial rate of 2.00% APY that lasted for more than...

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Ally Bank Again Increases the Rate on Its 11-Month No Penalty CD

Deal Summary: 11-month No Penalty CD: 1.50% APY, $25k minimum (increase of 15 bps).

Availability: Nationwide

For the second time in the last week, Ally Bank raised the rates of its 11-month No Penalty CD. This is an especially pleasant surprise since last week’s rate hike was such a good deal. You’ll need a minimum deposit of at least $5k to benefit from this rate increase. The top-tiered rate increased 15 basis points to 1.50% APY while the mid-tiered rate increased 20 basis points to 1.25% APY....

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Rate Hike and Review of the American Express Bank’s Savings Account
Deal Summary: High Yield Savings Account (1.05% APY); no minimum balance.

Availability: Nationwide (internet bank)

After several internet banks have raised their rates to 1.15% and above, the recent rate hike of the High Yield Savings Account (HYSA) at American Express Bank, FSB (1.05% APY) may not sound like an exceptional deal. Nevertheless, I thought it was worth a blog post since the internet bank has several features that give them an advantage over others. In fact, I seem to receive more positive opinions from readers about this bank...

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