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.
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: Relationship Money Market, 1.31% APY, new money, six month rate guarantee, no min/$250k max, checking relationship required.
Availability: Market area includes Maryland, Virginia, the District of Columbia, and Pennsylvania.
CFG Community Bank (CFG) is offering a promotional Relationship Money Market (1.31% APY), with the promotional rate is guaranteed for six months following account opening. New money is required to earn the promotional APY, as is an active checking account, defined as “having an ACB $2,000 per month and direct deposit.”
Ten months ago, I wrote about BTH Bank’s Worry-Free Money Market account, which at the time was earning 1.29% APY ($500k+) and 1.09% APY ($100k). Ten days ago, BTH Bank raised the rates on the Worry-Free Money Market for the seventh time in eight months, resulting in APYs of 1.64% ($500k+) and 1.44% ($100k+). Balances below $100k earn an unimpressive 0.25% APY.
Deal Summary: 360 Money Market, 1.00% APY on balances of $10k+, $200 bonus offered through June 30, 2017.
Availability: Nationally available
Now through June 30, 2017, Capital One is offering a publicly available $200 bonus when opening a new 360 Money Market account online and depositing at least $10k. In this instance, “new” really means new:
In February, DA reader, stevel, wrote a Forum post about a targeted $200 bonus on Capital One’s 360 Money Market, which currently earns 1.00% APY on balances of $10k+. According to CSR,...
Massachusetts-based Northern Bank has launched a new online division called Northern Bank Direct. The new internet bank is offering a competitive money market account and a couple very competitive CDs. The best deal is currently a 3-year CD with a 2.00% APY. Other CD terms include a 5-year (2.15% APY), 4-year (2.05% APY), 2-year (1.65% APY) and...
Deal Summary: Dollar Savings Account, 1.25% APY on all balances, no minimum opening deposit requirement.
Availability: Internet bank
DollarSavingsDirect has raised the rate on its Dollar Savings Account to 1.25% APY - the highest APY for a nationally available savings account. While there used to be a $1k minimum opening deposit for the Dollar Savings Account, that requirement was changed sometime in late 2016. Currently, there is no minimum deposit balance required to either open the account or earn the stated APY; CSR stated the account could be...
Deal Summary: $100, $250, or $400 bonus on High Yield Savings (1.05% APY)
Availability: Nationwide (internet bank)
In early February, CIT Bank began offering a cash bonus of up to $200 when opening a new High Yield Savings account. CIT Bank has replaced that promotion with “new and improved” bonuses (up to $400) for new High Yield Savings accounts opened between March 31, 2017 and June 30, 2017. The minimum balance to qualify for the bonus is $15k of new money, which is defined as funds not already...