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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

Patriot Bank Offers Online Money Market Nationwide
UPDATE 1/16/2020: Online Money Market now earns 2.00% APY with no rate guarantee.

Deal Summary: Online Money Market, 2.26% APY, $100 minimum opening deposit, new money,rate guaranteed through June 30, 2020.

Availability: Nationwide, excluding Connecticut and New York.

Connecticut-based Patriot Bank is currently offering a promotional Online Money Market on a nearly nationwide basis. The Online Money Market earns 2.26% APY on all balances, with the APY guaranteed through June 30, 2020. When the promotional rate expires on July 1, 2020, the prevailing Money Market rate...

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RSI Bank (NJ) Offers 10-Month CD (2.10% APY) Statewide
Deal Summary: Go Digital! 10-month CD, 2.10% APY, $1k min/$100k max deposit. Go Digital! Savings, 2.00% APY, $100 min/$100k max opening deposit.

Availability: New Jersey residents through online application only.

New Jersey-based RSI Bank recently expanded its product line and now offers four new Go Digital! accounts to all New Jersey residents through online application. The two most competitive accounts are the Go Digital! 10-month CD (2.10% APY) and Go Digital! Savings (2.00% APY).

Go Digital! 10-month CD Details

  • $1k minimum/$100k maximum deposit
  • Limit of one 10-month CD per...
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Sun East Federal Credit Union Has 19-Month CD Special, 2.25% APY
Deal Summary: 19-month CD Special, 2.25% APY, $500 minimum deposit.

Availability: Easy membership requirement

Pennsylvania-based Sun East Federal Credit Union (Sun East) is currently offering a 19-month CD Special earning 2.25% APY. The minimum deposit is $500, with no stated balance cap.

The 19-month CD Special is also offered as an IRA (Traditional, Roth), earning the same APY with the same funding requirements.

Sun East’s website doesn’t provide a lot of documentation, so the following information was provided by a CSR.

  • The Early Withdrawal Penalty for...
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Amboy Direct Jersey First eSavings Offers 2.10% APY For A Year
Deal Summary: Jersey First eSavings, 2.10% APY on balances up to $50k, balances between $50,001 and $250k earn between 2.10% and 1.91% APY, one-year rate guarantee, $1 minimum opening deposit, must be first and only Amboy Direct account, limit of one account per NJ household.

Availability: New Jersey residents through online application only

Amboy Direct is still promoting its Jersey First eSavings account, which currently earns 2.10% APY on balances up to $50k with a one-year rate guarantee. (FYI – the “First” in the account’s name refers to...

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DBN First (PA) 13-Month CD Earns 2.35% APY
Deal Summary: 13-month CD, 2.35% APY, $1k minimum deposit.

Availability: Market area is the greater Philadelphia metro area.

DNB First is currently offering a 13-month CD, which earns 2.35% APY. The minimum opening deposit is $1k, with no stated balance cap.

The 13-month CD is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

According to CSR, the Early Withdrawal Penalty is 60 days of interest, with partial withdrawals allowed. Unlimited beneficiaries can be named and...

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CFBank's Platinum Money Market Available Nationwide
Deal Summary: Platinum Money Market Promo Rate, 2.02% APY, $25k minimum deposit and balance, new money, 120 day rate guarantee.

Availability: Nationwide through online application.

In the past 18 months, Ohio-based CFBank has had a series of Money Market promotions. The latest is a 2.02% APY promotional rate offered on the nationally available Platinum Money Market (PMM) account. A $25k minimum deposit of new money is required to open a PMM, with a $25k minimum balance necessary to earn the promotional 2.02% APY.

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Quontic Bank's Personal Money Market Has Competitive Rates
Availability: Personal Money Market, 2.20% APY ($100k+), 2.10% APY ($5k+), 1.85% APY (up to $5k), $500 minimum opening deposit.

Availability: Nationwide through online application.

For just over a year, New York-based Quontic Bank’s Personal Money Market rates have been very competitive. Rates started to fall in September, but the cuts have been smaller than most online savings and money market accounts. The Personal Money Market account is currently offering 2.20% APY on balances of $100k+. The other tiered APYs include 2.10% ($5k-$100k) and 1.85% (up to $5k).

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Xceed Financial Credit Union Adds Xclusive Money Market, 2.00% APY
UPDATE 1/6/2020: No longer available.

Deal Summary: Xclusive Money Market, 2.00% APY, $50k minimum balance, rate guaranteed through June 30, 2020, $25k minimum opening deposit of new money.

Availability: Easy membership requirement

It’s been nearly two years since California-based Xceed Financial Credit Union (Xceed) offered any blog-worthy product. That changed this week with the introduction of the Xclusive Money Market, which earns 2.00% on balances between $50k and $500k. Balances between $25k and $50k earn 1.50%, with balances less than $25k earning 0.25% APY.

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TotalDirectBank CDs Are Rate Leaders - 24-Month, 2.60% APY
Deal Summary: CDs – 12-month (2.36% APY), 24-month (2.60% APY), 36-month (2.60% APY), $25k minimum.

Availability: Nationwide, with the exception of California and Florida.

In September, I wrote about the new Direct Money Market Deposit Account (DMMDA) offered by Florida-based TotalDirectBank (TDB). The 2.35% APY on balances between $5k and $500k is still in effect. For more detail about the DMMDA, please refer the September 26 blog post.

In September, TotalDirectBank’s CD rates were fairly competitive, but in the past seven weeks as many other rates dipped, the...

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FitnessBank Savings Account Still Leads But Rates Have Fallen
Deal Summary: Fitness Savings Account, 2.60% APY on balances over $100 when step requirements are met.

Availability: Nationwide (internet bank)

FitnessBank recently cut rates again on its Fitness Savings Account. The top rate fell from 2.75% to 2.60% APY at the start of November. For two months in the summer, the top rate had been 3.00% APY. After three Fed rate cuts that total 75 bps, a 40 bp rate cut seems reasonable. With a top rate of 2.60% APY, the Fitness Savings Account remains the rate leader for nationally...

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