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Ken Tumin

Joined: Nov 29, 2009Comments: 499
Forum Threads: 4,948Forum Posts: 5,708
Rep Points: 139,211
Ken Tumin

Contact via: Google Plus, Twitter, Facebook

About Ken Tumin

I started the BankDeals blog which eventually evolved into DepositAccounts.com as a hobby to help people find the best deals at banks and credit unions. My deals come from US banks and credit unions, both online and brick-and-mortar. Internet banks are creating more competition and better rates, but sometimes the best deals are local.

In addition to reports on deals, I also describe my experiences on opening accounts and dealing with the banks. Plus, I try to keep everyone updated on the important banking news relevant to savers.

I am NOT affiliated with any banks or institutions. I'm just another web surfer like you. My posts are based on what I find on institutions' websites, what they advertise and what the banks' customer service reps tell me. I also receive valuable help from readers who inform me of new rates and deals. Comments and emails are much appreciated.

Check with the institution for the latest and official information. Rates change very fast, and so the only official information is directly from the bank or credit union. I keep old posts with old rates for history's sake. A bank's rate history can be an important factor to consider. All posts are dated so you can see if the post may be out-of-date.  You may contact me at ken depositaccounts.com.

Recent Blog Posts


Essex Bank (VA/MD) Adds 13-Month CD Promo Rate With Checking
Essex Bank
Availability: Market area includes the Greater Richmond Region (Virginia), Beltway Maryland, and the Baltimore metropolitan area.

This week, Essex Bank announced its limited time 13-month CD Promo (1.50% APY). To qualify for the stated promotional APY, a Cash Back Checking account must be opened along with the 13-month CD, and must be “remain open for the entire term of the CD or the effective rate of the CD will revert back to the (non-promotional) published rate in effect for the 13 month CD product at that time." If...

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Cyprus CU (UT) Offers 60-Month CD and Dream CD
Cyprus Credit Union
Availability: Residents of Salt Lake County; employees of 40+ SEGS; any Utah resident who joins the Community Recreation Association.

Cyprus Credit Union’s (Cyprus CU) 60-month CD has maintained its 2.30% APY for almost a year. The minimum deposit is $1k, with no stated balance cap.

The 60-month CD is also available as an IRA (Traditional and Roth) earning the same APY, with the same funding requirements.

Cyprus CU also has a “Dream CD” category, which is essentially an add-on CD with a $100k balance cap. The...

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Tioga-Franklin Savings Bank (PA) Adds New Kasasa Cash/Saver
Tioga-Franklin Savings Bank
Availability: Market area includes the Philadelphia metropolitan area.

Last week, Tioga-Franklin Savings Bank (Tioga-Franklin) introduced its new Kasasa Cash account that earns 2.00% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.05% APY, with non-qualify balances earning 0.01% APY.

Kasasa Cash Checking Qualification Requirements

  • At least 12 debit card purchases.
  • Be enrolled in and receive eStatements.
  • Be enrolled in and log into Online Banking.

The Kasasa Cash account has no minimum balance requirement or monthly service fee, but does require a $100 minimum opening deposit. Nationwide ATM...

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Security Savings Bank (SD/IA/MN) Ups 14-Month CD Rate
Security Savings Bank (15734)
Availability: Market area includes the Tri-State area of northwest Iowa, southeast South Dakota, and southwest Minnesota.

South Dakota-based Security Savings Bank has recently raised the rate on its 14-month CD (1.40% APY). The minimum deposit is $7.5k, with no stated balance cap.

In January, I wrote about Security Savings Bank’s 48-month CD Special (2.06% APY), which had just had its first rate increase in almost three years; the 2.06% APY is still in effect today, nearly ten months later. The minimum deposit is $500, and...

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Coastal Heritage Bank (MA) Has Very Limited Time 9-Month CD Special
Coastal Heritage Bank
Availability: Massachusetts’ South Shore area

Often the phrase, “limited time offer”, has to be taken with a grain of salt, as some of these offers last for months. On the other hand, there is no ambiguity concerning Coastal Heritage Bank’s limited-time 9-month CD Special (1.11% APY) that is only available for four days (September 28 – October 1, 2016).

The minimum opening deposit is for the stated limited-time APY is $1k, with a maximum balance cap of $250k. There is also a limit of one account per person.

According to...

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Recent Community Posts


CD With Unique Early Withdrawal Fee Or Bonus
Updated: Sep 30, 2016 by NeilStanley  |  2 comments  |  Bank Deals

TS Bank has a recent blog post that describes its unique CD, called CDtwo: When rates change, our CDtwo®, a next-generation CD, gives you options - read more

Model CD Ladders: Fidelity's New Feature For Brokered CD Investors
Posted: Sep 29, 2016 by Ken Tumin  |  0 comments  |  Financial News

Fidelity just issued this press release introducing its new Model CD Ladders: To help investors make the most of their hard-earned money, Fidelity read more

MyBankingDirect Increases Money Market APY To 1.00%
Updated: Sep 27, 2016 by exit8  |  1 comment  |  Bank Deals

MyBankingDirect increased the top rate on its money market account from 0.80% to 1.00% apy. The new rate applies to balances of $25k+. The rate remains at read more

Big Rate Changes At Ally? (Update: False Alarm)
Updated: Sep 26, 2016 by RJM  |  8 comments  |  Bank Deals

Surprised nobody is talking about it.  . But the bottom line is a decline on savings & money market rates and a massive increase in the read more

Deposit Accounts Email
Updated: Sep 26, 2016 by Anon456  |  4 comments  |  Ask The Community

I received the following email from Deposit Accounts showing large rate drops at Ally Bank.  I don't see the drops at Ally.  Anyone receive read more

Ally Bank Yield Changes?
Updated: Sep 25, 2016 by Shorebreak  |  2 comments  |  Ask The Community

I received an email from depositaccounts.com last night showing some yield changes on Ally Bank accounts. The Savings Account going from 1.00% to .85% and read more

Bank Of Japan's Big Move Isn't Dispelling Market Fears That Central Banks Are Out Of Ammo
Updated: Sep 25, 2016 by paoli2  |  2 comments  |  Financial News

Can the Bank of Japan's latest twist on its quantitative easing program survive it's own contradictions? The BOJ and its policy makers, led by Gov. read more

Would You Trust Your Money In The State Bank Of India?
Updated: Sep 24, 2016 by Shar  |  22 comments  |  Ask The Community

https://www.depositaccounts.com/b...dia-il.htm Thanks!

Walmart Did Not Allow Debit Card To Be Used As Credit Card.
Updated: Sep 17, 2016 by Ally6770  |  9 comments  |  Miscellaneous

On 5/1/2015, I had 5 out of 12 Walmart transactions post as debits. You have to keep close track of your credit transactions or you may be read more

Credit Card Reward Preferences? Cash? Travel Rewards?
Posted: Sep 15, 2016 by Ken Tumin  |  0 comments  |  Financial News

Ally Bank conducted an interesting survey to help promote their new cash back credit card: Cash is king when it comes to credit card rewards according to read more

Wells Fargo To Pay Around $190 Million Over Fake Accounts That Sparked Bonuses
Updated: Sep 15, 2016 by jimbeau  |  8 comments  |  Financial News

The Consumer Financial Protection Bureau has fined Wells Fargo $100 million for what it calls "the widespread illegal practice of secretly opening read more

Don't Expect A Credit Union Membership Through Work
Updated: Sep 14, 2016 by CapitalClimate  |  2 comments  |  Financial News

A few years ago, a lot of employers' benefits packages included joining a credit union. In 1996, almost 70 percent of organizations offered credit union read more

How Safe Are ATMs From Skimming? Not Very
Posted: Sep 12, 2016 by Ken Tumin  |  0 comments  |  Financial News

ATM robbery via "skimming" is increasing dramatically. According to FICO Card Alert Service, a company that monitors ATM activity for banks, ATM skimming read more

Smartypig Deposits Will Be Moving To Sallie Mae Bank
Posted: Sep 6, 2016 by Ken Tumin  |  0 comments  |  Bank Deals

Last week SmartyPig reported the following news on their blog:We are excited to announce today that beginning November 1, 2016 SmartyPig accounts will be read more

Jobs Report Halts Federal Reserve's Interest Rate Hike Mojo
Updated: Sep 6, 2016 by Shorebreak  |  3 comments  |  Financial News

From Time's Money:When the Federal Reserve meets later this month, the smart money now bets that talk of an interest rate increase will not be on the read more

A Cashless Society? Some Retailers Turn Noses Up At Currency
Updated: Sep 6, 2016 by Purplesage  |  5 comments  |  Financial News

Stroll into the airy Kit and Ace store on Woodward Avenue in Detroit and you're struck by the minimalist style that highlights the brand's comfortable, read more

Is It Smart To Open A Travel Credit Card Just For The Sign-Up Bonus?
Posted: Sep 3, 2016 by Ken Tumin  |  0 comments  |  Financial News

A. Some credit cards are sweetening their sign-up bonuses or introducing other perks for new customers who spend a certain amount within the first couple read more

Fed Officials Tell Activists Rate Hikes Won't Derail Economy
Updated: Aug 30, 2016 by Ally6770  |  5 comments  |  Financial News

From Yahoo! Finance: An unusually large group of Federal Reserve policymakers appeared before activists on Thursday and defended their plans to raise read more

PERSONAL INCOME AND OUTLAYS: JULY 2016
Updated: Aug 29, 2016 by Ken Tumin  |  1 comment  |  Financial News

For those who would like to follow the detailed figures released---- Next release will be Sept 30 8:30 am  Sept. figures as well as July and Aug will read more

New Design
Updated: Aug 27, 2016 by Frank Walker  |  6 comments  |  Miscellaneous

I use FF.  When  click on the Forum menu item the sub-menu appears, but the default action of showing the User Community seems to override any read more

Yellen Says Rate-Hike Case 'Has Strengthened In Recent Months'
Updated: Aug 26, 2016 by Frank Walker  |  1 comment  |  Financial News

Federal Reserve Chair Janet Yellen said the case to raise interest rates is getting stronger as the U.S. economy approaches the central bank's goals.

New Procedure Helps People Making IRA And Retirement Plan Rollovers
Posted: Aug 25, 2016 by Ken Tumin  |  0 comments  |  Financial News

If you regularly do IRA rollovers for your IRA CDs, this might be helpful. From an IRS press release: The Internal Revenue Service today provided a read more

Has Anyone Here Read Porter Stansbury's "The American 2020 Survival Blueprint"?
Updated: Aug 18, 2016 by paoli2  |  5 comments  |  Ask The Community

I just listened to Ron Paul's info on the "coming" American currancy crisis and it is scary.  Has anyone in this group purchased  the books and read more

Money Market Promo In Florida - 1% For 6 Mo & Up To $1,000 Bonus
Updated: Aug 18, 2016 by Ken Tumin  |  1 comment  |  Bank Deals

Saw FCB advertising this money market promotion. Looks like a good deal.  1% APY guaranteed for 6 months on all tiers Cash back from $100 to $1,000 read more

Fed's July Minutes Show A Split Central Bank Seeking To Keep Options Open
Updated: Aug 18, 2016 by Shorebreak  |  1 comment  |  Financial News

From the WSJ: Taken together, the latest Fed release suggested a rate increase is a possibility as early as September, but the Fed won’t commit to moving read more

Negative Rates Seen Reducing Japan Big Banks' Profits By $2.96 Billion
Updated: Aug 16, 2016 by cumulus  |  1 comment  |  Financial News

From Reuters:Japan's financial watchdog estimates that negative interest rates under the Bank of Japan's monetary easing policy will reduce profits for read more

Gloom Deepens For UK Savers As Santander Halves Rates - FT.Com
Posted: Aug 15, 2016 by Ken Tumin  |  0 comments  |  Financial News

From FT Santander UK is to halve the interest rate on one of its most popular accounts in a move other British banks are expected to follow as they adjust read more

Newspapers Rethink Paywalls As Digital Efforts Sputter
Posted: Aug 14, 2016 by Ken Tumin  |  0 comments  |  Financial News

This isn’t directly banking related, but for those of us who look to news sites for their banking and financial news, it’s nice to see these paywalls are read more

Small CD Rate Increases At State Bank Of India Chicago
Posted: Aug 12, 2016 by Ken Tumin  |  0 comments  |  Bank Deals

Slight rate increases were made to the bank’s 1-, 2- and 3-year terms. 1.29% APY 1-year CD (was 1.26%) 1.43% APY 2-year CD (was 1.41%) 1.68% APY 3-year read more

CU Loans Are Heating Up
Posted: Aug 12, 2016 by Ken Tumin  |  0 comments  |  Financial News

From the Credit Union National Association Summer is well underway and credit union lending-like the weather-is heating up. Credit union loan portfolios read more