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.
Deal Summary: Free Kasasa Cash, 3.00% APY up to $15k; Free Kasasa Saver, 1.00% APY up to $50k.
Maryland-based Severn Bank began offering Kasasa brand products about 14 months ago. The Free Kasasa Cash Checking account has maintained its initial 3.00% APY on qualifying balances up to $15k. Qualifying balances greater than $15k earn 0.20% APY, while non-qualifying balances earning 0.05% APY.
At least 12 monthly debit card purchases.
One ACH, or Direct Deposit, or Bill Pay transaction per monthly qualification cycle.
Availability: Market area includes North Carolina, Upstate South Carolina, and Virginia Beach, Virginia area.
North Carolina-based Select Bank & Trust (Select Bank) is currently offering a Money Market Special, which earns a 0.95% APY that is guaranteed for the first 12 months following account opening. (After the first 12 months, the APY will convert to the standard Money Market variable rate, which is currently 0.40% APY.) The minimum opening deposit...
It’s been almost two years since I had occasion to write about CDs offered by Illinois-based Consumers Credit Union (CCU). Last week, CCU raised the rates on all three 20-month CDs by a uniform 25 bps. The new rates may seem low, but in today’s environment, they’re very competitive. Any rate hike these days is a ray of hope for...
Deal Summary: High Interest Money Market Account Plus (HIMMA Plus), up to 1.50% APY, $2.5k minimum opening deposit, new money, 6-month rate guarantee.
Availability: Easy membership in Alabama, Louisiana, and Mississippi.
Mississippi-based Keesler Federal Credit Union (KFCU) is currently offering very competitive tiered APYs on its High Interest Money Market Account Plus (HIMMA Plus), which has a six month rate guaranteed. The tiered APYs are 1.40% APY ($2.5k+), 1.45% APY ($50k+), and 1.50% APY ($100k+). This promotion requires a minimum $2.5k opening deposit of new money.
Availability: Online market area Delaware, Florida, New Jersey, and Pennsylvania.
Pennsylvania-based Malvern Bank has an Online Money Market account, which currently earns 1.25% APY on balances of $2.5k and above. Should the daily balance fall below $2.5k, no interest will be earned and there is a monthly $10 low balance fee.
The Online Money Market account has been part of Malvern Bank’s product line for about 18 months. The initial 1.80% APY was in...
Availability: Kasasa Cash Checking, 2.02% APY on qualifying balances up to $50k. Kasasa Saver, 1.00% APY on qualifying balances up to $100k.
Availability: All Texas residents through online application.
When Texas Bank Financial introduced its new Kasasa Cash Checking account nine months ago, its initial 4.00% APY on qualifying balances up $50k was definitely “wow-worthy.” While the current 2.02% APY isn’t an outstanding rate, the large balance cap (qualifying balances up to $50k) makes this Kasasa Cash Checking account quite competitive. Qualifying balances above $50k earn 0.25%...
Deal Summary: Choice Premier Checking, 2.50% APY on qualifying balances up to $25k. Choice Savings, 1.25% APY on qualifying balances up to $25k.
Availability: Online market area includes Ohio and the Pennsylvania counties of Lawrence and Mercer.
Ohio-based Cortland Bank recently unveiled two new rewards checking accounts – Choice Premier Checking and Choice Interest Checking. While structured similarly, the Choice Premier Checking has the higher rate: 2.50% APY on qualifying balances up to $25k. Qualifying balances of $25k+ earn 0.25% APY, with non-qualifying balances earning...
Availability: Residents of the Louisiana parishes of Bienville, Bossier, Caddo, Claiborne, DeSoto, Red River, and Webster, and the Arkansas counties of Columbia and Lafayette.
Louisiana-based Carter Credit Union (Carter CU) is currently offering competitive rates on all of its Share Certificates, with the 12-month Share Certificate having the best APY. Terms of 36 months or more receive an additional 10 bps for three or more additional account relationships. The minimum deposit for any of these Share Certificates...
Deal Summary: SaveUp Savings, 4.32% APY up to $1k; 17 other tiered rates with blended APYs ranging from 0.62% for a $13k balance to 1.18% for a $100k balance.
When I first saw the SaveUp Savings account offered by Workers Credit Union (Workers CU), I admit I dismissed it out of hand. My initial reaction was that it was probably more of a gimmick, rather than a competitive savings account, since the rate drops from 4.23% to 0.08% when the balance exceeds $1k. A closer look...
Deal Summary: AARP members can receive a savings account APY that is 0.10% higher than the stated APY for a period of 24 months. Special 8-month No-Penalty CD (1.10% APY) for AARP members.
Availability: Nationwide through online application.
Marcus by Goldman Sachs (Marcus) has two good deals for AARP members. The first is a rate bonus for the Marcus high-yield Online Savings Account. Both new and existing Marcus customers who are AARP members can receive an extra 10 basis points on the savings account for 24 months. The 10 basis...