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.


Popular Posts

Bank Deals Blog: Savings & MMA Deals

My eBanc SuperSaver Money Market Account Is New Rate Leader
Deal Summary: SuperSaver Money Market Account, 4.08% APY ($100k+), 2.48% APY (up to $100k). Online Time Deposits – 12-month (4.71% APY) and 18-month (4.71% APY), $5k minimum opening deposit.

Availability: Internet bank

Good news – Florida-based My eBanc is currently offering 4.08% APY on its SuperSaver Money Market Account.

Not-as-good news – A minimum $100k balance is required to earn the 4.08% APY.

As recently as mid-November, the SuperSaver MMA earned 2.48% APY on all balances, but at the beginning of December, My eBanc restructured the SuperSaver MMA, adding two...

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CFG Bank Boosts Money Market and CD Rates
Deal Summary: CDs – 12-month (4.65% APY) and 18-month (4.75% APY), $500 min/$250k max deposit. High Yield Money Market, 4.00% APY, on balances of $1k and above.

Availability: Nationwide through online application

In October, Maryland-based CFG Bank (CFG) had adopted a “uni-rate” strategy, with the 12-, 18-, 36-, and 60-month CDs all earning the same APY. That approach was short-lived, and now the shorter-term CDs have the highest rates. Following recent rate increases of 15 bps for the two shorter-term CDs and 25...

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UFB Direct Ups Money Market and Savings Account Rates
Deal Summary: UFB High Rate Money Market (3.91% APY), UFB High Rate Savings (3.91% APY), no minimum opening deposit.

Availability: Nationwide (internet bank)

Soon after I published yesterday’s Liquid Rates Summary, I was informed that California-based UFB Direct would be raising the rates on its UFB High Rate Money Market and UFB High Rate Savings accounts to 3.91% APY, effective December 1, 2022. As this is NOT a new account, all existing High Rate MMA and Savings accounts will automatically begin earning 3.91% today. There is no need to...

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All America Bank/Redneck Bank Up Money Market Rate and Balance Cap
Deal Summary: Mega Money Market, 4.00% APY on balances up to $75k, balances over $75k earn 0.50% APY, minimum $500 opening deposit.

Availability: Nationwide

About a week ago, Oklahoma-based All America Bank and its online “country cousin” division, Redneck Bank, began offering a higher rate and a larger balance cap on its Mega Money Market (MMM) accounts. Following the addition of 95 bps, the Mega Money Market (MMM) accounts now earn 4.00% APY on balances up to $75k (previously $50k); balances over $75k earn 0.50% APY.

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Bread Financial Has Across-The-Board CD And Savings Rate Increases
Deal Summary: Bread Savings CDs – 4-year (4.65% APY) and 5-year (4.75% APY), $1.5k min/$1m max deposit per account. High-Yield Savings Account, 3.50% APY on all balances.

Availability: Nationwide (internet bank)

As DA reader, bisenber, noted in a Forum post earlier this month, Bread Financial has again raised the rates on all its CDs and the High-Yield Savings account. Unlike previous rate increases that benefited the shorter-term CDs, the most recent rate increases boosted the 4-year CD (4.65% APY) and 5-year CD (4.75% APY) to...

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Republic Bank of Chicago Boosts Digital Money Market Rate
Deal Summary: Digital Money Market, 4.00% APY, $2.5k minimum opening deposit/minimum balance, new money.

Availability: Online market area includes all states except IL, IN, MI, and WI.

Thanks to DA reader, midas89, for the Forum post announcing that Republic Bank of Chicago (Republic Bank) “has joined the 4% Club.” The Digital Money Market (DMM) account, which was added to the product line in August, currently earns 4.00% APY, following a 62-bp increase this week. The minimum opening deposit is $2.5k of new money (funds not currently on...

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CFG Bank Boosts All CDs and High Yield Money Market Rates
Update 11/14/22: CFG Bank did another across-the-board rate increase. High Yield Money Market, 3.85% APY; 12-, 18-, 36- and 60-month CDs, 4.60% APY. The original post was first published on 10/31/22.

Deal Summary: 12-month CD, 4.10% APY, $500 min/$250k max deposit. High Yield Money Market, 3.30% APY, on balances of $1k and above, new money.

Availability: Nationwide through online application

Maryland-based CFG Bank (CFG) has adopted a “uni-rate” strategy: the 12-, 18-, 36-, and 60-month CDs all currently earn 4.10% APY. Of the four, the 12-month...

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Brilliant Bank Money Market Account Is A Rate Leader
Update 11/10/22: The Money Market Account APY increased 40 bps to 4.01%. As of this minute, it's now the rate leader for nationally available savings and money market accounts without large balance requirements, small balance caps or activity requirements. This post was first published on 11/4/22 when the APY was 3.61%.

Deal Summary: Money Market Account, 3.61% APY, $1k min/$500k max deposit and/or balance.

Availability: Nationwide, with the exception of Arkansas, Kansas, Missouri, and Oklahoma.

The Brilliant Bank Money Market Account (MMA) was added to the product line in August...

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UFB Direct Adds New Rate-Leading Money Market and Savings Accounts
Deal Summary: UFB High Rate Money Market (3.83% APY), UFB High Rate Savings (3.83% APY), no minimum opening deposit.

Availability: Nationwide (internet bank)

It’s been about three months since I last wrote about the liquid accounts offered by California-based UFB Direct, which means I’m probably writing about new accounts! DA reader, PugPower, described the situation quite aptly:

The only differences between the new “High Rate” accounts and the newly retired “Elite” accounts are the new name and the higher APYs. Note, when these new accounts were introduced, new balance tiers...

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Merchants Bank of Indiana Money Market Retakes Rate-Leader Status
Deal Summary: Money Market Account, 3.82% APY on all balances, $50 minimum opening deposit.

Availability: Nationwide through online application.

Merchants Bank of Indiana (MBoI) started the month by adding 77 bps to its nationally available Money Market Account (MMA). The new 3.82% APY applies to all balances and according to CSR, “the new rate applies to existing and new accounts.” While there is no minimum balance requirement to earn the stated APY, a minimum $50 deposit is required to open a new MMA.

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