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

Coastal Credit Union (NC) Debuts 39-Month CD, 3.00% APY
Deal Summary: 39-month CD, 3.00% APY, $250 minimum deposit

Availability: Easy membership requirement for North Carolina residents.

The latest institution to offer a CD with a 3.00% APY is Coastal Credit Union (Coastal CU). This time it’s not on a 5-year term, but for a much shorter 39-month term. The minimum deposit for the 39-month CD is a low $250, with no stated balance cap.

The 39-month CD is also offered as an IRA (Traditional, Roth, SEP, CESA) earning the same APY, with the same $250 minimum...

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CIT Bank Debuts New Money Market Account (1.75% APY)
Deal Summary: Money Market Account, 1.75% APY on all balances, $100 minimum opening deposit.

Availability: Nationwide (internet bank)

CIT Bank introduced its Money Market Account that earns 1.75% APY on all balances. Minimum opening deposit is $100, and there is no monthly maintenance fee. This rate is currently 20 basis points higher than CIT Bank’s Premier High Yield Savings rate which has been 1.55% APY since early January.

Besides the rate, the only difference that I see between CIT Bank Money Market Account and its Premier High Yield Savings...

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Salem Five Direct eOne Savings Now Earns 1.85% APY
Deal Summary: eOne Savings, 1.85% APY, $100 minimum opening deposit, $1 million maximum, new eOne Savings customers, with some exceptions.

Availability: Nationwide (internet bank)

After adding 35 bps to its APY, Salem Five Direct’s eOne Savings account (1.85% APY, up to $1 million) now has the highest APY of any nationally available savings account. Balances over $1 million will be transferred to a Statement Savings Account which currently earns 0.05% APY.

Salem Five Direct added the eOne Savings to its product line eight years ago. Since then there...

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BankPurely (Internet Bank) Unveils PurelyMoneyMarket (1.70% APY)
Deal Summary: PurelyMoneyMarket, 1.70% APY, $25k minimum deposit, $500k maximum deposit, new money and new accounts only.

Availability: Nationwide (internet bank)

BankPurely, an online division of New York's Flushing Bank, will be celebrating its first anniversary soon. BankPurely’s first products were the SavingPurely account (1.30% APY) and CheckingPurely account (0.75% APY). Between September and December, three CDs were added to the product line. As of a few days ago, BankPurely introduced the newest member of its savings family, the PurelyMoneyMarket, initially earning 1.50% APY on balances...

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Popular Direct's Exclusive Savings Account Jumps To 1.65% APY
Deal Summary: Exclusive Savings, 1.65% APY on all balances, $5k minimum opening deposit

Availability: Nationwide (internet bank)

Popular Direct’s Exclusive Savings Account was added to the product line in mid-January, with an initial rate of 1.50% APY. Yesterday that rate was raised to 1.65% APY. The minimum opening deposit is $5k, although the minimum balance to earn the stated APY is only $0.01.

The Exclusive Savings is the fourth savings account Popular Direct has added to the product line in about two years....

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DollarSavingsDirect Leads With 1.80% APY Savings Account
Deal Summary: Dollar Savings Account, 1.80% APY on all balances, no minimum opening deposit requirement. 60-month CD, 2.80% APY, $1k minimum deposit.

Availability: Internet bank

As of this morning, there's a new savings account rate leader: DollarSavingsDirect’s Dollar Savings Account now earns 1.80% APY on all balances.

About ten months ago, DollarSavingsDirect starting raising the rate on its Dollar Savings Account, by adding an eye-catching 70 bps. Prior to that April 2017 rate hike, the Dollar Savings Account’s APY lay dormant at 0.55% for more than four...

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FNBO Direct Boosts Online Savings To 1.60% APY
Deal Summary: Online Savings, 1.60% APY, $1 minimum deposit, $1 million maximum deposit

Availability: Nationwide (internet bank)

In December 2015, FNBO Direct was the first internet bank to raise a rate following the Federal Reserve's rate hike. The event itself was more noteworthy than the actual rate increase, which added 20 bps to its Online Savings account; the result was a fairly unimpressive 0.95% APY. This past December, the Online Savings rate was bumped up to 1.40% APY two days after the Fed’s latest rate hike.

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United Bank's Online Advantage MMA (1.70% APY) Nears Top Rate
Deal Summary: Advantage Money Market, 1.70% APY up to $500k, six-month rate guarantee, minimum $500 opening deposit, available only online.

Availability: Market area for the online Advantage Money Market includes CA, CT, DE, FL, GA, KS, KY, LA, MA, MD, ME, MO, NC, NE, NH, NJ, NY, OK, PA, RI, SC, TX, UT, VA, and WA.

United Bank has again raised the rate on its online Advantage Money Market (AMM), and is now offering 1.70% APY, guaranteed for six months. The minimum opening deposit is $500 and is...

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More Discover Bank Rate Hikes - Savings Account, Money Market and CDs
Deal Summary: Rate increases: Online Savings Account, 1.50% APY, No minimum balance: Money Market, 1.40% APY $100k+, 1.35% APY under $100k

Availability: Nationwide (internet bank)

Discover Bank increased the rates today of its Online Savings Account and Money Market Account by 10 bps. The Online Savings Account now earns 1.50% APY on all balances. The Money Market Account now earns 1.40% APY on balances of $100k and over. Balances under $100k now earn 1.35% APY. Discover Bank also increased the rates of eight of it CDs.

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My Banking Direct's Money Market Now Earns 1.50% APY ($25k+)
Deal Summary: Money Market, 1.50% APY ($25k+), 1.35% APY ($5k+), 0.25% APY (below $5k), minimum deposit is $2.5k

Availability: Nationwide (internet bank)

Two months ago, My Banking Direct added 20 bps to its Money Market APY, following a year of an unchanging 1.15% APY. Another 15 bps were added today, with the Money Market now earning 1.50% APY ($25k+), 1.35% APY ($5k+), and 0.25% APY on balances below $5k.

A minimum opening deposit of $2.5k is required, but there is no minimum balance requirement or fee. Interest will...

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