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.

Featured Savings Rates

Popular Posts

Featured Accounts

Bank Deals Blog: Savings & MMA Deals

HSBC Brings Back HSBC Direct Savings with Competitive Rates
Deal Summary: HSBC Direct Savings Account, 1.80% APY on all balances up to $2 million

Availability: Nationwide (internet bank)

If you’re a long-time reader, you will likely remember HSBC Direct. I first started to write about HSBC Direct and its Online Savings Account in 2005. Before the 2008 financial crisis, HSBC kept the Online Savings Account rates very competitive. Most noteworthy was in 2007 when HSBC Direct offered a promotional 6% APY. The Online Savings Account became less competitive after 2008. In 2010, HSBC Direct became HSBC Advance. Like other...

Continue Reading
Cross River Bank CD Rates Shoot Upward
Deal Summary: CDs – 12-month (2.63% APY), 18-month (2.79% APY), 24-month (2.94% APY), 36-month (3.25% APY), 48-month (3.56% APY), $500 minimum balance.

Availability: In-branch only, but anyone who can come into the Teaneck, NJ branch is eligible to open a CD.

New Jersey-based Cross River Bank has substantially raised the rates on most of its CDs, adding between 76 and 89 bps. Any of Cross River Bank’s CDs can be opened with a $500 minimum deposit, and there is no stated balance cap.

Continue Reading
MemoryBank Debuts Online Money Market, 1.85% APY Up To $1M
Deal Summary: Online Money Market Account, 1.85% APY on balances up to $1 million

Availability: Nationwide (internet bank)

It’s been about 18 months since Republic Bank introduced its new internet division, MemoryBank. The EarnMore Checking Account was MemoryBank's first and only product. MemoryBank doubled the size of its product line this week, when it unveiled its Online Money Market Account (OMMA). The OMMA earns 1.85% APY on balances between $0.01 and $1 million; balances over $1 million earn 0.01% APY.

Continue Reading
Freedom First (VA) Offers Money Market Special, 2.13% APY
Deal Summary: Money Market Special, 2.13% APY on balances of $10k+, $10k minimum opening deposit of new money.

Availability: Residents of the Virginia counties of Botetourt, Craig, Franklin, Montgomery, and Roanoke, and the Virginia cities of Radford, Roanoke, Salem, and Vinton.

In 2016, Freedom First offered a Fall Money Market Special, which earned 1.25% APY on balances of $100k+. The APY was guaranteed for twelve months.

Two years later, there’s a new (and definitely improved) Money Market Special at Freedom First, earning 2.13% APY on balances of $10k+, with a...

Continue Reading
Bank5 Connect's High-Interest Savings Jumps to 2.05% APY
Availability: High-Interest Savings Account, 2.05% APY on balances of $100 and above, $10 minimum opening deposit.

Availability: Nationwide, with the exception of Massachusetts and Rhode Island.

Bank5 Connect has raised the rate on its High-Interest Savings Account to 2.05% APY. Yesterday’s addition of 115 bps gives the High-Interest Savings Account its highest APY since Bank5 Connect opened its virtual doors in 2013.

While a $100 minimum balance is required to earn the stated APY, the account can be opened with as little as $10. The High-Interest Savings...

Continue Reading
Capital One 360 Money Market Account is Latest To Reach 1.75% APY
Deal Summary: 360 Money Market, 1.75% APY ($10k+), 0.85% APY (less than $10k)

Availability: Nationwide

Yesterday, Capital One raised the rate on its 360 Money Market by 15 bps to 1.75% APY on balances of $10k+. The APY for balances below $10k remains at 0.85%.

Capital One is the latest of the large internet banks to raise their savings or money market rate to 1.75% APY. Several other large internet banks have already raised their savings account rates to 1.75% APY. These include Discover, Ally, American...

Continue Reading
Citizens Access (New Online Bank) Offers 2.00% APY Savings Account
Deal Summary: Online Savings Account, 2.00% APY, $5k min opening deposit. CDs – 12-month (2.50% APY), 36-month (3.00% APY), and 48-month CD (3.05% APY), $5k min deposit.

Availability: National (internet bank)

Citizens Access, a new internet division of Citizens Bank (RI), has debuted its new Online Savings Account and a variety of competitive Online CDs. Let’s talk about the Online Savings Account first.

Online Savings Account

The Online Savings Account earns 2.00% APY on balances of $5k and above; balances between $0.01 and $4,999.99 earn 0.25% APY. Citizens...

Continue Reading
Discover Bank Ups Online Savings, Money Market and CD Rates
Deal Summary: Online Savings, 1.75% APY, all balances. Money Market, 1.65% APY ($100k+), 1.60% APY (below $100k).

Availability: Nationwide (internet bank)

Discover Bank is the latest of the large internet banks to raise their savings account rate to 1.75% APY. Discover Bank’s Online Savings Account rate increased 10 bps this morning to 1.75% APY. In addition, it raised the rates by 10 bps of both tiers of its Money Market Account. The top tier now earns 1.65% APY ($100k+) and the lower tier earns 1.60% APY (below...

Continue Reading
Salem Five Direct Ups eOne Savings To 2.05% APY
Deal Summary: eOne Savings, 2.05% APY, $100 minimum opening deposit, $1 million maximum, new eOne Savings customers with some exceptions.

Availability: Nationwide (internet bank)

With this week’s addition of 20 bps, Salem Five Direct eOne Savings account (2.05% APY, up to $1 million) is now a rate leader for 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 have...

Continue Reading
CommunityWide Fed Credit Union Ups High Rate-Quarterly To 2.10% APY
Deal Summary: High Rate - Quarterly funds account, 2.10% APY on balances of $500 and above

Availability: Easy membership requirement

Two weeks ago, Indiana-based CommunityWide Federal Credit Union (CW) raised its profile by increasing Share Certificate rates to record levels, becoming the current rate leader for nationally available CDs.

CW is again making news this week by upping the rate on its High Rate - Quarterly funds account to 2.10% APY. A $500 minimum daily balance is required to earn the stated APY and is also the minimum opening deposit.

Continue Reading
Load More...