Country Bank for Savings CD Rates
July 2, 2010 by admin
Filed under Certificates of Deposit
The Country Bank for Savings is an independent full-service and community-focused bank that has been around since 1850. The goal of the bank is to develop mutually beneficial financial relationships with all of the customers it serves as well as the businesses it serves. The bank is dedicated to supporting and enriching the community in every way that it can.
The Country Bank for Savings CD rates can earn you a higher yield on your money than can a regular savings account. To see the most current rates take a look at the website found at http://www.countrybank.com/. Be aware that all non-interest bearing transactions accounts are fully guaranteed by the FDIC for the complete amount that is in the account. All accounts are guaranteed up to $250,000 per depositor until December 31, 2010. After that date the amount reverts back to $100,000.
The Country Bank for Savings (CBS) makes a variety of CDs available to their customers. If you decide to purchase a Savings and IRA certificate of deposit then the minimum deposit required to open it is $500. If you decide to withdraw the money early you will be subject to early withdrawal penalties. Choose the term that is most fitting to your budget and lifestyle in order that you won’t feel the need to consider withdrawing all or part of your money out early.
The 6 Month Relationship Certificate at the present time has an interest rate of 1.49 and an annual percentage yield (APY) of 1.50. In order to qualify for this CD it is necessary that you maintain a monthly average balance of $1,000 in your CBS checking account with monthly direct deposit in any deposit account.
If you choose to open a 15 Month Relationship Certificate then the same situation applies in terms of the balance that must remain in your checking account at all times. The Country Bank for Savings CD rate for the 15 month CD at the present time is 1.74 while the APY is 1.75.
Yet again the same situation applies with the 24 Month Relationship Certificate. To maintain the CD you must keep a balance of $1,000 in your checking account every month. The interest rate for the 24 month CD is 2.18 while the APY is 2.20.
The Country Bank for Savings offers plenty of other options when it comes to CDs. There is a 2 month CD (60 days) that requires a balance of $500 to under $25,000 and there is another 2 month CD (60 days) that requires an initial deposit of $25,000 to under $50,000. To learn more visit the website.