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

Banesco USA Adds Limited-Time Money Market Promo Rate
Deal Summary: BanesFlex Money Market Promo, 5.25% APY on balances of $300+, $2.5k minimum opening deposit, new money required.

Availability: Nationwide

For a limited time, Florida-based Banesco USA is offering a BanesFlex Money Market Promo that earns 5.25% APY on balances of $300 and above. The minimum opening deposit is $2.5k of new money, which is defined in the FAQs as “money not currently deposited in a Banesco USA account.” (FYI – the current rate for the non-promo BanesFlex Money Market Account is only 1.35% APY.)

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Northern Bank Direct Ups 9-Month CD Rate To Near Market-Leading Level
Deal Summary: 9-month CD, 5.50% APY, $500 min/$250k max opening deposit.

Availability: Nationwide (internet bank)

In April 2023, Massachusetts-based Northern Bank Direct (NBD) substantially increased the rate on its 9-month CD to 5.50% APY. That rate-leading APY was in effect for about two weeks before it plummeted back to its previous 0.40% APY. In a bit of rate déjà vu last week, NBD again boosted 9-month CD APY from 0.40% to 5.50%. The opening deposit must be at least $500 and is capped at $250k.

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Rivermark Com Credit Union Adds Savings Account w/Rate Guarantee
Deal Summary: New Member Savings Account, 5.00% APY on balances up to $100k, rate guaranteed for 15 months, limit of one per member.

Availability: Eleven Oregon counties and all counties in Washington State.

Oregon-based Rivermark Community Credit Union (Rivermark CCU) is currently offering a New Member Savings Account (NMSA) earning 5.00% APY on balances up to $100k. As stated on the Truth-in-Savings disclosure, “The total portion of your balance over $100,000 will earn 0.05%.”The 5.00% APY is guaranteed for 15 months following account opening, after which the NMSA will...

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Climate First Bank Adds Nationally Available CDs, MMA, and Checking Accounts
Deal Summary: 5.34% APY - 6-month CD Special (no penalty), $500 min; 15-month Flex CD Special (partial no penalty and add-on), $500 min; Choice Personal Money Market, $50k min; and Choice Personal Checking, $50 min; new money required.

Availability: Nationwide through online application.

Florida-based Climate First Bank (Climate First) is offering 5.34% APY on an “Account of Your Choice”: 6-month CD Special (no penalty), 15-month Flex CD Special (partial no penalty and add-on), Choice Personal Money Market account, and Choice...

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Poppy Bank Adds Nationally Available Premier Online Savings Account
Update 1/5/2024: The guarantee period for new accounts has been reduced from 180 days to 90 days.

Deal Summary: Premier Online Savings, 5.50% APY, $1k minimum deposit, rate guaranteed for three months, online opening only.

Availability: Nationwide through online application

California-based Poppy Bank is ending the year with a new and rate-leading savings account. The recently unveiled Premier Online Savings earns 5.50% APY that is “guaranteed for ninety (90) days from the date the account is opened.” A Premier Online Savings can be opened with a $1k...

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Vio Bank Cornerstone Money Market Rate Continues To Rise
Deal Summary: Cornerstone Money Market Account, 5.30% APY on all balances up to $2.5 million, $100 minimum opening deposit.

Availability: Nationwide (internet bank)

Oklahoma-based Vio Bank introduced the Cornerstone Money Market Account (Cornerstone MMA) in April 2021. At that time, there was only a few bps difference between the Cornerstone MMA APY and the Vio Bank High Yield Online Savings (HYOS) APY. While the HYOS APY plateaued at 1.10% APY about a year ago, the Cornerstone MMA rate has steadily risen in the past 18 months, gaining...

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Sallie Mae Bank Boosts All CD Rates
Deal Summary: CDs – 15-month (5.55% APY), 12-month (5.50% APY), and 24-month (5.25% APY), $2.5k minimum deposit.

Availability: Nationwide (internet bank).

As DA reader, RichardW, observed in a Forum post last week, Sallie Mae Bank (SMB) recently increased the rates on the majority of its CDs. The most noteworthy rates belong to the 12-month CD (5.50% APY), 15-month CD (5.55% APY), and 24-month CD (5.25% APY). The minimum opening deposit is $2.5k, with no stated balance cap. (Note: These are CDs that are offered...

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My Banking Direct Hikes High Yield Savings Rate
Deal Summary: High Yield Savings, 5.35% APY on balances of $1+, $500 min opening deposit. 5-month CD, 5.50% APY, $2.5k min opening deposit, unlimited additional deposits.

Availability: Internet bank

In a Forum post earlier this month, DA reader, redfarm, noted that My Banking Direct had increased the High Yield Savings (HYS) account rate. Following a 35-bps increase, the HYS currently earns 5.35% APY on balances of $1+. Opening an HYS requires a $500 minimum deposit.

While the 5.00% APY currently applies to all balances, the...

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CIBC Bank Offers $250 or $500 Bonus on Agility Savings Account
Deal Summary: $250 or $500 bonus with new money deposited into a new or existing CIBC Agility Savings account, available through December 19, 2023. Limit of one bonus per primary account owner Tax ID.

Availability: Nationwide

As DA reader, RZ, noted in a Forum post last week, Chicago-based CIBC Bank USA (CIBC) is offering a cash bonus of $250 or $500 to both new and existing Agility Savings account customer, with a limit of one bonus per primary account owner Tax ID. A brief synopsis of this bonus appears...

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Bread Financial Long-Term CD Rates On The Rise, Albeit Slowly
Deal Summary: Bread Savings CDs – 4-year (4.75% APY), 5-year (4.75% APY), $1.5k min/$1m max deposit per account. High-Yield Savings Account, 5.15% APY, $100 min/$1m max deposit per account.

Availability: Nationwide (internet bank)

Bread Financial recently increased the rates on the majority of its Bread Savings CDs. Following modest increases of 10 bps, the 4-year Bread Savings CD and 5-year Bread Savings CD both earn 4.75% APY, which is among the highest rates offered by “pure” internet banks on long-term CDs. The current 4.75% APY...

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