Commerce National Bank headquartered in Texas offers their highest cd rates for their 24-month CD. The current interest rate is pegged at 2.53% APY. This certificate of deposit deal can be opened with an initial funding of $1,000.
This cd interest rate is not listed on the website of the bank but we were able to confirm that this is being offered by the bank. We were informed that the interest rate that was tipped to us was still accurate as of December 3. The cd rates can be changed any time so it will be best to call the bank to confirm the g=figures before signing up for anything.
The bank imposes an early withdrawal penalty equivalent to 3 months of earnings for the 24-month CD. You can also get this CD as an IRA.
Commerce National Bank also offers an attractive yield for an 18-month certificate of deposit that does not impose any penalties. Its interest rate is a bit lower at 1.51% APY. Interested consumers can check out the CD offerings on the bank’s website but it will be a lot better if they will include the interest rates.
The early withdrawal penalty of 3 months is a good feature of the 24-month CD. Other banks usually charge 6 months of earnings if you take out your funds early.
If you decide to hold on to the CD for just a year, the yield will still be very competitive at roughly 1.90% equaling that of a 1-year CD.
There are no online applications available so it seems that consumers must go to a branch to complete the application process.
The financial ratings of the bank are above average. BauerFinancial stamped 4 stars for performance while bankrate.com issued 3 stars for soundness and safety. These ratings were based on their June 2009 data.
The bank is indexed with the FDIC under the name Lubbock National Bank but it seems they are appealing to a wider market with the Commerce name. The bank is insured with the FDIC under certificate number 22752.
Similar Posts:
- AIG Bank 6 Month CD Rate
- Highest CD rates for 16-month special with Teachers Federal Credit Union at 2.50% Apy for Jumbo, 2.20% APY for regular
- Certificate of Deposit with The East Carolina Bank with Best Interest Rates at 2.50% APY for 13-month CD
- 3.50% APY for 48-month Certificate of Deposit, 2.40% APY for 24-month, other CD rates with Terrabank
- Top CD rates with Century Bank Direct, 2.25% APY for 15-month deal and 1.09% APY for 10-month CD
