Dedicated to Deposits: Deals, Data, and Discussion

5.50% 12 and 24 Month CDs at Ascencia Bank

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Ascencia Bank
Ascencia Bank has a competitive yield of 5.50% APY on its 12 and 24 month certificate of deposit. The minimum deposit is $500, and the maximum is $100K. The interest rate is 5.37%. Ascencia is an internet bank that's available to anyone in the US.

I first mentioned these 5.50% rates in my June 23rd weekly summary. Once nice feature is that Ascencia guarantees the APY for 20 days from the date of application. So if you mail in the application, you shouldn't have to worry about the rate dropping while it's in the mail.

Ascencia has a pretty good FAQ on their CDs. The early withdrawal penalty for the 12-month CD is 3 months of interest on the amount withdrawn (earned or unearned). The 24-month CD has a 6-month interest penalty.

My last post on Ascencia was on their high yield money market account when the yield was up to 5.55% APY for balances of $100K or more (see post). The rate has fallen and is currently 5.40% APY.

From past posts, readers have mentioned that Ascencia does not do a hard credit pull when you open an account. And on another note, Ascencia has business accounts for its CDs, money market and checking accounts.

Ascencia is an internet bank headquartered in Louisville, KY. It's a division of PBI Bank which is FDIC insured (FDIC Certificate # 9314). It has a 4 out of 5 star rating (sound) at Bankrate.com.
  Tags: Ascencia Bank, CD rates

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