Competitive CD Rates Offered By EH Bank

With the national average for CD rates keeping a steady hold these days, the quest for competitive CD offers continues. One of the best deals in town comes from no less than a local finance company. EH Bank, which is situated in California, has much higher-than-average rates that you’re sure to go after for.

About the Rates

EH Bank offers three different types of CD schemes: personal, business, and individual retirement accounts or IRA.

For the personal account CD rates, the best deal comes form their 1-year maturity term. An APY of 1.05% is no doubt much better than the national average of 0.76% for the same time period. The full list of their term and respective APYs are as follows:

Personal CDs APY
3 month Cd over 100K – 0.30%
3 month CD over 100K – 0.30%
6 month Cd over 100K – 0.80%
6 month CD over 100K – 0.80%
12 month Cd over 100K – 1.05%
12 month CD over 100K – 1.05%
24 month Cd over 100K – 1.20%
24 month CD over 100K – 1.20%

Business CDs have equally the same features and rates, while IRAs yield slightly higher returns for your money.

12 Month traditional IRA – 1.05%
36 Month traditional IRA – 1.40%
60 Month traditional IRA – 1.85%
12 month roth IRA – 1.05%
36 month roth IRA – 1.40%
60 month roth IRA – 1.85%

As it is with certificates of deposit, withdrawals cannot be made without penalties. Since this is a fixed term investment vehicle, the longer the term, the higher the growth of your money. All these terms compound interest on a daily basis. The credited statement will be issued upon maturity should you choose to withdraw the earnings.

Once you sign up for a CD term, you will need to enroll in online banking at EH Bank’s website so you can have 24/7 access to your account.

About EH Bank

Rooted in Beverly Hills, California, EH Bank is touted among largest SBA lenders in the country, finishing at seventh place. This mark of excellence continues to motivate the employees as well as the owners of EH Bank to pursue a full-speed route towards great service.

Invest In A CD Account With CNB Bank Direct’s Competitive Rates

Certificates of deposit have a good reputation these days, mainly due to the rising interest rates many lenders now offer. CNB Direct Bank puts your money into use so that you can exceed expectation for your money’s growth during a CD maturity.

How the Rates Compare

Some of the best national rates come from KeySource Bank and Doral Bank Direct which tie up at a 1.15% APY for a 1-year term. Another high offering is the 1.08% APY from CIT Bank. With these values, it seems pretty clear that these high-rollers have some competition with CNB Bank. Although the 1-year fixed APY of 1.00% from CNB compare to be slightly lesser than what the mentioned lenders offer, it still places significantly ahead of the current national rate of 0.69%.

There are two other maturity terms they offer – the 18-month and 24-month CD. At 1.05% APY, CNB’s 18-month offer may look a little disheartening, considering that KeySource gives a 1.20% APY for the same term. Local deals such as Gulf Coast Credit Union’s 1.65% APY in Texas and Veridian Credit Union’s 1.45% APY seem to be better deals.

However, the 2-year offer sheds some light and plus points for CNB Bank. It gives a fixed APY of 1.50%. Considering that competitors only provide the same service at 1.20% or lower, this is already a great deal in itself. An assurance that this is so is the fact that this amount is at par with the national average of 1.49%. A considerably small difference, but important nonetheless.

Terms and Conditions

Application for this certificate can be done online. For a minimum initial deposit of $25,000, you can start planning for the things you want or need to buy for when the term matures. Maximum amount for deposit is at $250,000.

For each interest incurred from the maturity of the certificate, the amount is added to the account. Another option is fro this to be transferred to your existing CNB Bank savings account.

About CNB Bank Direct

Although relatively new in the business, CNB Bank has grown into an institution that caters to mainly citizens in Ohio. It started out in 2008, requiring only $1 for anyone who wanted to open a savings account. CNB Bank Direct is all about the people, and its dedication to service can be seen most evidently in making sure they are able to assist them in their financial needs.