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.
POSTED ON WEDNESDAY, SEPTEMBER 19, 2018 BY KEN TUMIN
Deal Summary: Rate increase on the Online Savings Account (1.90% APY)
This morning, Goldman Sachs Bank USA (now operating under the brand Marcus by Goldman Sachs) increased the rate of its Online Savings Account by 5 bps to 1.90% APY.
Like past rate hikes, this new rate doesn’t make the savings account a rate leader, but it does keep the savings account on the high end for the large internet banks, and it should put pressure on the other large internet banks.
Availability: Market area includes major metropolitans areas in California, Illinois, New Jersey, New York, Texas, and Virginia.
California-based Hanmi Bank is promoting a new Premium Savings account with tiered rates: 2.10% APY ($50k+), 1.85% APY ($10k+), and 0.15% APY (less than $10k). The minimum opening deposit is $10k of new money.
If the minimum daily balance should fall below $5k during the statement cycle, a $10 monthly maintenance fee will be assessed....
Deal Summary: PurelyMoneyMarket (2.25% APY) and iGOmoneymarket (2.25% APY), $25k min/$500k max, new money, new accounts only. 12-month PurelyCD (2.65% APY) and 12-month iGOCD (2.65% APY), $1k minimum deposit.
Availability: Nationwide (internet banks)
As BankPurely and iGObanking are both internet divisions of Flushing Bank, it makes sense to write one blog post about the money market accounts (MMA) both banks are offering. The rates on both MMAs (PurelyMoneyMarket and iGOmoneymarket) were raised earlier this week to 2.25% APY on balances of $25k and above. The minimum...
Pacific National Bank has raised the rate on its Money Market Deposit Account (MMDA) to 1.90% APY. The MMDA requires a minimum $5k opening deposit of new money and is capped at $240k.
A $5k daily balance is required to earn the stated APY and waive the $25 monthly maintenance fee. Online banking and eStatements are also required to avoid the $25 monthly fee. Any debit transactions in excess...
Deal Summary: HSBC Direct Savings Account, 2.01% APY on all balances up to $2 million
Availability: Nationwide (internet bank)
HSBC Direct appears intent on keeping its online savings account competitive. The Bank just increased the rate of its savings account by 21 bps to 2.01% APY. This applies to all balances up to the maximum allowed account balance of $2 million. HSBC Direct does list balance tiers for the savings account, but currently, all tiers earn the same APY.
In July, I first reported on the “rebirth” of HSBC Direct...
POSTED ON SATURDAY, SEPTEMBER 8, 2018 BY KEN TUMIN
UPDATE: This offer will expire at the end of business, September 13, 2018.
Deal Summary: Money Market Account Special, 2.32% APY, $10k minimum opening deposit, new money, rate guaranteed for one year following account opening.
Availability: Market area includes Arizona, Colorado, Illinois, Kansas, Missouri, Nebraska, Oklahoma, and Texas. In-branch only.
Now through September 22, 2018, UMB (formally known as UMB Bank, National Association) is offering a Money Market Account Special (MMAS), earning 2.32% APY. The APY will be in effect for 12 months following account...
In somewhat of a surprising move, it appears Emigrant Bank has decided to make MySavingsDirect (MSD) their flagship savings account, having raised the rate on the MySavings Account to 2.25% APY. Meanwhile, DollarSavingsDirect’s (DSD) Dollar Savings Account remains unchanged at 1.80% APY.
With this latest rate increase, DSD and MSD have switched roles: DSD had been offering competitive rates on the Dollar Savings Account since April 2017 (1.25% APY), with the latest increase to 1.80%...
POSTED ON THURSDAY, SEPTEMBER 6, 2018 BY KEN TUMIN
Deal Summary: High Yield Savings, 2.02% APY ($25k+), 1.21% APY (less than $25k), $2.5k minimum opening deposit.
Availability: Nationwide (internet bank)
IncredibleBank, the internet division of Wisconsin-based River Valley Bank, has raised the rate by 14 bps on its High Yield Savings account to 2.02% APY on balances of $25k+; the rate for balances of less than $25k did not change, remaining at 1.21% APY. The High Yield Savings account can be opened with a $2.5k minimum deposit.
In the past six months, the High Yield Savings APY...
POSTED ON WEDNESDAY, SEPTEMBER 5, 2018 BY KEN TUMIN
Deal Summary: Poppy Savings, 2.50% APY, $10k minimum, guaranteed through December 31, 2019, checking requirement.
Availability: Offer in-branch at the Menlo Park and Milpitas locations only.
Poppy Bank (formerly First Community Bank) is currently offering a Poppy Savings/Poppy Checking combo special only at its Menlo Park and Milpitas branch locations. Both accounts must be opened at the same time. (Note: since this offer is limited to only two branch locations, the Poppy Savings account is not listed in any of DA's rate tables.)