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Ken Tumin

Joined: Nov 29, 2009Comments: 495
Forum Threads: 4,916Forum Posts: 5,666
Rep Points: 137,836
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 All posts are dated so you can see if the post may be out-of-date.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


Merchants Bank (MN/WI) Offers "Growth Spurt" CD Specials
Merchants Bank, National Association
Availability: Market area includes southeastern Minnesota and west-central Wisconsin.

Minnesota-based Merchants Bank, National Association (Merchants Bank) recently added four “Growth Spurt CD Specials,” (25- and 45-month terms) with tiered APYs.

These limited-time CD Specials require new money, with the lower APYs requiring a $10k minimum deposit, and a $25k minimum deposit for the higher APYs.

The fine print on the promotion page states,

According to CSR, the Early Withdrawal Penalty for any of these Specials is 180 days interest.

Thanks to DA reader, susanc, for her Forum post about the Growth...

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Popular Community Bank Has 6-Month Rate Optimum MMA Guarantee
Popular Community Bank
Availability: Optimum Money Market Special only available to New York residents.

Popular Community Bank (PCB) is offering a promotional rate on its Optimum Money Market (1.26% APY), with a rate guarantee for six months from the account opening date. The minimum opening deposit is $10k, and a minimum average daily balance of $10k must be maintained to qualify for the promotional rate.

Popular Community Bank is also offering a 19-month CD (1.26% APY) as part of their “2 Choices – 1 Great Rate!” promotion, but the 19-month CD...

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Savings Bank of Danbury (CT) Hikes Rate On 15-month Bump Up CD
Savings Bank of Danbury
Availability: Market area includes portions of western Connecticut.

Last week, Savings Bank of Danbury (SBD) hiked the rate on its 15-month Bump Up CD (1.50% APY) by an impressive 100 basis points; the previous APY of 0.50% had been in effect for more than three years. The minimum opening deposit $1k, with no stated balance cap.

This CD could be called “Bump Up x 2,” since it allows for one rate increase during the term of the CD and additional deposits in increments of $500 within the first six...

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Latino CU (Easy Membership) Has Competitive 60-Month CD
Latino Credit Union
Availability: Easy Membership Requirement through the Latino Community Development Center.

Latino Credit Union (Latino CU) is offering a competitive 2.10% APY on its 60-month Share Term Certificate (STC). The minimum opening deposit is $500, with no stated balance cap.

$50 Bonus

As part of Latino CU’s anniversary celebration, a $50 gift card will be awarded immediately upon opening an STC (12 months or greater) with a minimum $5k opening deposit.

As stated on the Share Term Certificate page, the Early Withdrawal Penalty for STCs opened with the $50 bonus reads...

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Signal Financial FCU Has Limited-Time 60-Month CD Promo Rate
Signal Financial Federal Credit Union
Availability: Easy Membership Requirement through the Washington Area Bicyclist Association; residents of Washington, D.C. and portions of Prince George’s County, Maryland; 200+ SEGs.

Signal Financial Federal Credit Union (Signal Financial) has recently increased the rate on its 60-month Share Certificate (2.16% APY). The minimum opening deposit is $500, with no stated balance cap.

According to Signal Financial’s Rates and Disclosures page, this is a limited-time promotional rate that expires on September 30, 2016.

The information concerning the Early Withdrawal Penalty for the promotional rate 60-month Share Certificate seems to be...

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Recent Community Posts


Would You Trust Your Money In The State Bank Of India?
Updated: 15 hours ago by paoli2  |  16 comments  |  Ask The Community

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

Melrose CU Fires CEO Kaufman
Updated: 22 hours ago by me1004  |  5 comments  |  Financial News

Melrose CU, Briarwood, N.Y., one of several area credit unions suing the Taxi and Limousine Commission of New York City related to taxi medallion loans read more

What To Expect In The Fed Statement Next Week
Posted: Jul 22, 2016 by Ken Tumin  |  0 comments  |  Financial News

The Federal Reserve is expected to hold interest rates steady at its meeting next week and refrain from signaling about a possible September rate hike due read more

How To Find Out The True Investment Returns On Any Life Insurance Policy
Posted: Jul 22, 2016 by Ken Tumin  |  0 comments  |  Financial News

Some useful info from Clark Howard's website:If you have an old life insurance policy that you've been paying the premiums on for years, it can be read more

13 Month 1.25 CD
Updated: Jul 21, 2016 by Ken Tumin  |  1 comment  |  Bank Deals

In 7/20/2016 Post Dispatch.  The fine print is too tiny for me to read

Should You Save Enough To Live To 100?
Updated: Jul 18, 2016 by jimbeau  |  1 comment  |  Financial News

First, you were supposed to die at 85. Then 90. Now 95 and even 100 are common defaults when financial planners tell people how much to save for read more

How To Avoid Taxes When Cashing In EE Bonds
Posted: Jul 18, 2016 by Ken Tumin  |  0 comments  |  Financial News

Unfortunately, there aren't many ways to avoid taxes when you cash in EE bonds. This USA Today article describes one way that probably won't help 98% read more

TruNorth FCU Victim Of $145M Check Scheme
Posted: Jul 18, 2016 by Ken Tumin  |  0 comments  |  Financial News

Federal prosecutors alleged a Michigan woman ran a $145 million check kiting scheme that victimized the $137 million TruNorth Federal Credit Union in read more

First Look At 2017 Cost-Of-Living Adjustments And Maximum Contribution Base
Posted: Jul 15, 2016 by Ken Tumin  |  0 comments  |  Financial News

The BLS reported this morning: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.6 percent over the last 12 months read more

Ally Does Right By Kids
Updated: Jul 15, 2016 by Ken Tumin  |  1 comment  |  Miscellaneous

Got this link from Ally in my email today: Video: Watch Us Give These Kids a Monster Surprise | Ally

US Inflation Firms But This Won't Change Federal Reserve Actions On Rates
Posted: Jul 15, 2016 by Ken Tumin  |  0 comments  |  Financial News

We all know that the Federal Reserve would really like to get inflation back up to 2% or so in order that they may get on with raising interest rates so read more

CD Rates Falling, But Yield Premiums Still Attractive
Updated: Jul 15, 2016 by Ken Tumin  |  1 comment  |  Financial News

I've always liked Kevin On Investing posts so (although no earth shattering news here) would expect several of you will find this worthwhile. Also Kevin read more

Taiwan Bank Atms Spew Out Millions After Hack
Posted: Jul 14, 2016 by Ken Tumin  |  0 comments  |  Financial News

Police said several people wearing masks attacked dozens of ATMs operated by Taiwan's First Bank on Sunday. They spent a few minutes at each of the read more

Walmart Did Not Allow Debit Card To Be Used As Credit Card.
Updated: Jul 14, 2016 by kiwi  |  7 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

Fed 'Very Sensitive' To Strength Of The Dollar, Kaplan Says
Updated: Jul 13, 2016 by cumulus  |  2 comments  |  Financial News

The Federal Reserve is "very sensitive" to the strength of the dollar, a top Fed official said on Wednesday, because even though manufacturing and exports read more

12-Mo, 18-Mo & 24-Mo CD Specials In The DC Metro Area
Updated: Jul 13, 2016 by CapitalClimate  |  1 comment  |  Bank Deals

Cardinal Bank is offering three CD specials with competitive rates: 1.00% APY 12-month 1.12% APY 18-month 1.25% APY 25-month Minimum opening deposit read more

Is There A Section On Depositaccounts.Com For "Senior" Savings Rates?
Updated: Jul 11, 2016 by Bozo  |  7 comments  |  Ask The Community

Some banks offer interest premiums for the 50+ (or older) crowd. Is there a place on this web site where those rates are posted? I don't think there is, read more

12-Month CD Rate
Updated: Jul 8, 2016 by ChasR  |  4 comments  |  Bank Deals

Am I wrong, or did GS Bank just raise its 12-month CD rate to 1.20% APY? I haven't been following this maturity at all closely, but the last I remember it read more

Quroum 1.40% 10-Month Term Account Over?
Updated: Jul 7, 2016 by Sylvia  |  2 comments  |  Bank Deals

It's no longer on current rate chart, Quorum's Current Rates | Quorum

Credit Union Manager Admits To Embezzling $500,000
Updated: Jul 6, 2016 by jimbeau  |  2 comments  |  Financial News

From the Credit Union Times Timing and luck allowed a former manager to get away with embezzling nearly $500,000 over 17 years from a small Pennsylvania read more

Simple Steps To Avoid Identity Theft
Posted: Jul 3, 2016 by Ken Tumin  |  0 comments  |  Financial News

Identity theft is a huge problem. According to the Bureau of Justice Statistics, it's the No. 1 property crime in the country, totaling $10 billion more read more

A Warning For Dividend Growth Investors
Posted: Jul 3, 2016 by Ken Tumin  |  0 comments  |  Financial News

From Seeking Alpha Dividend growth investing has enjoyed a period of remarkable success in recent years Such a period may be difficult to repeat in the read more

Review Of A New Free Credit Score Service
Posted: Jul 2, 2016 by Ken Tumin  |  0 comments  |  Financial News

Jonathan of MyMoneyBlog has a good review of the new FreeCreditScore.com where you can get your FICO score for free. It’s owned by Experian so it’s read more

Investors See Even Lower Bond Yields From Brexit Fallout
Updated: Jul 1, 2016 by Shorebreak  |  1 comment  |  Financial News

Britain's vote to leave the European Union last week triggered a worldwide stampede into U.S., German, Japanese and even British government debt, sending read more

Capital One 360 Increases CD Rates For Terms Of 24 To 60 Months
Updated: Jun 30, 2016 by cumulus  |  2 comments  |  Bank Deals

The new CD rates are still a little low compared to the top CD rates for the corresponding terms. Nevertheless, it’s nice to see rate increases. Below is read more

11 Portfolio Solutions For Retired Investors
Posted: Jun 30, 2016 by Ken Tumin  |  0 comments  |  Financial News

Financial advisers tackle real-life retirees' questions about managing various types of retirement accounts and the assets within them. Reaching read more

Rewards Checking
Updated: Jun 29, 2016 by arthurtony  |  2 comments  |  Ask The Community

Under the details of the rewards checking accounts, there is a column marked EARN.  I can't figure out how the amounts are calculated - they do not read more

Five Reasons To Break Up With Your Bank
Updated: Jun 29, 2016 by Ken Tumin  |  1 comment  |  Financial News

Ken Tumin's DepositAccounts.com is cited as an online tool as a reference for searching for new accounts based on reviews, fees and the features that you read more

1 Million To Invest In Cds Vs Alternatives
Updated: Jun 19, 2016 by John Sears  |  31 comments  |  Ask The Community

Hi everyone, I've got ~ 1 Million in Ally 5 yr CDs maturing earning close to 3%, Ally can now only offer me 2.05% with the 0.05% loyalty bonus for read more

Bank Accounts Paying Interest Of Up To 4% On Your Money
Updated: Jun 1, 2016 by Ken Tumin  |  3 comments  |  Financial News

This Kiplinger article mentions DepositAccounts as a good resource to find deals.  Congratulations. Ken - so glad all your hard work continues to be read more