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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 as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents .

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CD Rates Summary September 12, 2017
CD Rates Summary September 12, 2017

The odds of a December Fed rate hike went up a little from last week. Some of that increase may be attributable to speeches by Fed officials. Cleveland Fed President Loretta Mester and New York Fed President William Dudley. Economist Tim Duy interpreted Mester’s view about rate hikes in his Fed Watch blog:

Duy summed up the speech by Dudley, who is influential at the Fed, by saying:

Duy then summed up both speeches as support for a December rate hike:

We’ll know more about current state of inflation in the next few...

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SFGI Direct Increases Savings Account Rate (1.31% APY)
Deal Summary: Savings account, 1.31% APY, $500 minimum opening deposit

Availability: Nationwide (internet bank)

Last week SFGI Direct raised the rate on its Savings Account by 10 bps to 1.31% APY. This is the third rate hike from SFGI Direct since June. Before that June rate hike, the APY was 1.06% and had been at 1.06% since June 2015. The account has a long history of remaining competitive. In fact, out of all of the nationally-available savings and money market accounts which currently have rates of at least 1.30% APY,...

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UFB Direct Boosts Money Market Savings To 1.41% APY
Deal Summary: Money Market Savings, 1.41% APY, $5k minimum opening deposit.

Availability: Nationwide (internet bank)

UFB Direct has raised the rate on its Money Market Savings to 1.41% APY. The 121 bps increase is the first rate change for the Money Market Savings in more than four years. The minimum opening deposit is $5k.

According to the Disclosure and Agreements brochure, there is a $10 monthly maintenance fee if the daily average balance drops below $5k. If the Money Market Savings is closed mid-cycle, any accrued interest...

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CapFed Savings Bank Traditions CD Specials - This Week Only
Deal Summary: Traditions CD Specials - 50-month (2.25% APY), 27-month (1.70% APY), 14-month (1.35% APY); $1k minimum deposit; only available September 11-16, 2017.

Availability: Nationwide

Now through September 16, 2017, Capitol Federal Savings Bank (CapFed) is offering three Traditions CD Specials: 50-month (2.25% APY), 27-month (1.70% APY), and14-month (1.35% APY) . Of the three, the 50-month is the most competitive. The minimum deposit is $1k, with no stated balance cap.

All three Traditions CD Specials are available as IRAs (Traditional, Roth, CESA) earning the same...

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CIT Bank's Premier High Yield Savings Now Earns 1.35% APY
Deal Summary: Premier High Yield Savings, 1.35% APY up to $100k, 1.30% APY for $100k+.

Availability: Nationwide (internet bank)

The rising rates race continues, with the latest increase coming from CIT Bank, which just added 5 bps to each of the Premier High Yield Savings account’s rate tiers. Tier 1 now earns 1.35% APY on balances up to $100k and Tier 2 earns 1.30% APY on balances over $100k. According to the fine print on the Premier High Yield Savings promotion page,

For example: A balance of $95,000...

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American Heritage FCU Has Nationally Available 48-Month CD (2.26% APY)
Deal Summary: 48-month Share Certificate, 2.26% APY, $1k minimum.

Availability: Easy membership requirement

In the past ten days, American Heritage Federal Credit Union (American Heritage) has had two rate increases on its 48-month Share Certificate (2.26% APY), adding an addition 50 bps. This is the first rate increase for the 48-month Share Certificate in more than a year. The minimum opening deposit is $1k, with no stated balance cap.

The 48-month Share Certificate is also offered as an IRA (Traditional, Roth, and CESA) earning the same APY,...

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How to Handle Your Cash in a Natural Disaster
How to Handle Your Cash in a Natural Disaster

With the horror of Hurricane Harvey and Hurricane Irma fast approaching, disasters are top-of-mind. Be sure your preparation includes a plan for how you’ll handle cash in a crisis.

“Five years ago, my part of New Jersey was hit hard by Hurricane Sandy and much of the state was without power for a week or more. ATMs were down and there was no way to get cash. Plus, the few stores and restaurants that managed to open on generator power could only take cash, so credit cards were useless...

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Truity Credit Union Adds 24-Month Bump CD
Deal Summary: 24-month Bump Share Certificate, 2.00% APY, $2k minimum deposit.

Availability: Easy membership requirement for residents of Bartlesville (OK), Lawrence (KS), or Springdale (AR); 200+ SEGs, including several large oil and gas companies.

Truity Credit Union (Truity CU) began September by introducing a 24-month Bump Share Certificate (2.00% APY). The minimum deposit is $2k, with no stated balance cap.

According to the fine print on the Rates page,

The Bump Share Certificate is also offered as an IRA (Traditional), earning the same APY with the same funding...

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New Nationally Available CD Specials At Veridian Credit Union
Deal Summary: CD Specials - 25-month (1.91% APY), 39-month (2.07% APY), $1k minimum deposit. Jumbo CD Specials - 25-month (2.02% APY), 39-month (2.17% APY), $100k minimum deposit.

Availability: Easy membership requirement through Dwolla; residents of all 99 Iowa counties and five southeast Nebraska counties.

In the past two years, Veridian Credit Union (Veridian) has been quite prolific when it comes to offering competitive short- and long-term CDs. The latest offering includes 25- and 39-month term lengths, in both Jumbo CD Special and regular CD Special formats....

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Washington Federal (IL) Offers Money Market Special, 1.70% APY
Teaser Rate Alert: Money Market, 1.70% APY; $5k minimum; new money; no rate guarantee.

Availability: Market area is the greater Chicago metropolitan area.

DA has a new type of blog post - the Teaser Rate Alert - for good rates that have no or a short-time rate guarantee period, or accounts that have a history of low rates. In the current climate of climbing rates, there have been a fair number of good rates offered that lasted for only a short time before plummeting. In all fairness,...

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Adventure Credit Union (MI) Offers 23-Month CD Special (2.05% APY)
Deal Summary: 23-month CD Special, 2.05% APY, $500 min/$1 million deposit, new money.

Availability: Residents of 11 west Michigan counties; 500+ SEGs in West Michigan and Lansing areas.

Two months, Adventure Credit Union (Adventure CU) offered a 13-month CD Special with an outstanding 2.00% APY; that Special has since been withdrawn. At the beginning of the week, Adventure CD added a new CD Special: a 23-month, earning 2.05% APY. While not offering an exceptional rate, the 23-month CD Special is still quite competitive.

...
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Hanover Community Bank (NYC) Offers Promo CD Rates
Deal Summary: 15-Month CD, 1.70% APY, $500 minimum deposit.

Availability: Market area covers a large portion of the NYC metropolitan area, including Nassau, Suffolk, Queens, and Kings Counties, New York.

In early March, Hanover Community Bank (HCB) opened its second branch location in Queens and offered three competitive CDs to mark the occasion. Six months later, HBC has opened its third branch location in Mineola (Long Island) and is celebrating the Grand Opening by offering another three CDs: 15-month (1.70% APY), 29-month (1.85% APY), and 60-month (2.30%...

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