Bank of Fayetteville CD Rates
July 1, 2010 by admin
Filed under Certificates of Deposit
The Bank of Fayetteville located in Fayetteville, Arkansas offers a selection of popular products for personal as well as business banking. The bank offers accounts with interesting names such as the Smart Checking account, the Clear Money Market account, the Sure Savings account and the Smarty Pants Savings account.
If it is certificates of deposit (CDs) that you have on your mind then look to the Bank of Fayetteville CD rates for the rates that are most suitable for you!
The Bank of Fayetteville has certificates of deposit (CDs) that are a very basic and simple way of making money with the funds you deposit into the account. This financial institution offers an array of rates and terms. Look through them and find the one that is most appropriate for your lifestyle and your budget.
The CDs at this Arkansas bank can be opened with a minimum of $500. The interest is paid out either on a monthly basis, a quarterly basis, an annual basis or at the time that the certificate of deposit matures. Be aware that you will incur a penalty if you decide to withdraw your money early from the CD account.
Before looking at the Bank of Fayetteville CD rates you might want to learn about the Flex CD that you can purchase. There are regular CDs and then there are Flex CDs. This unique type of certificate of deposit (CD) is an interest bearing account that offers you three different options for what you can do with the money for your account. The bank has given these options very unique names. There is the Step In option, the Step Up option and the Step Out option.
The Step In option means that you can add funds to your account at any time that you wish to. The Step Up option means that you can “step up” the annual percentage yield (APY) at any time of your choosing. Finally the third and final option, the Step Out option is such that you can withdraw up to 50 percent of your money from the CD without having to face any type of penalty.
Opening a Flex CD account is easy and quick to do! All you need to start it is $500 as a minimum opening balance. In order to determine account interest you need to find out what the Bank of Fayetteville CD rates are at the present time. Be aware that you are permitted to step up the APY only once during the term of your certificate of deposit