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: Savings & MMA Deals

SmartyPig Boosts Rate On SmartyPig Savings To 1.12% APY
Deal Summary: SmartyPig Savings, 1.12% APY, $50k+. Lower rates for lower balance tiers.

Availability: Internet Bank

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.

    Deposit Balance

    $0.01-$2,500

    $2,500.01-$10,000

    $10,000.01-$50,000

    $50,000+

    APY

    0.85%

    0.90%

    0.95%

    1.12%

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...

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Ally Bank Ups Savings Account Rate to Highest Level Since 2011

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,...

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Discover Bank Has $100 Bonus On New Online Savings

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.
  • Use offer code SAVE117D1 SAVE417E1 when...
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CFG Community Bank Adds Relationship Money Market
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.”

13-Month Penalty-Free CD

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BTH Bank (TX) Boosts Worry-Free Money Market To 1.64% APY ($500k+)
Deal Summary: Worry-Free Money Market, 1.64% APY ($500k+), 1.44% APY ($100k+)

Availability: Market area is Texas.

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.

The Worry-Free Money Market account requires a...

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Capital One Offers $200 Bonus For New 360 Money Market Account
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,...

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Northern Bank Direct Debuts Competitive Money Market and CD Rates

Deal Summary: Money Market, 1.05% APY $0-$250k; 36-month CD, 2.00% APY; 60-month CD, 2.15% APY; 48-month CD, 2.05% APY; 24-month CD, 1.65% APY; 12-month CD, 1.15% APY; $500 minimum deposit.

Availability: Internet bank

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...

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DollarSavingsDirect Boosts Dollar Savings Account Rate to 1.25% APY

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...

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CIT Bank Ups Bonus To $400 On High Yield Savings

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...

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Self-Help FCU (Easy Membership) Ups Money Market To 1.34% APY

Deal Summary: Money Market, 1.34% APY ($500k min), 1.24% APY ($500 min)

Availability: Easy membership requirement

Self-Help Federal Credit Union (Self-Help FCU) has just raised the rate on its Money Market account (1.34% APY, $500k+; 1.24% APY, $500+). The minimum opening deposit is $500.

In the past year, the Money Market account has experienced twelve rate increases, which have added a total of 56 basis points to the initial 0.78% APY.

There is no monthly service fee if a minimum daily balance of $500 is maintained; should the...

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