Some important details mentioned on the bank's CD page include:
- They are not currently offering in-trust-for, POD and trust accounts.
- Early withdrawal penalty is 90 days of interest for 1 and 2-year CDs, 180 days for the 3 year CD, and 270 days for the 5 year CD. The bank reserves the right to refuse such withdrawals.
- 10 calendar day grace period at maturity of the CD
I called to find out when the rate would lock if you send the application by mail, and I couldn't get through to a service rep. I was redirected to rep who wasn't at his desk and I got his voice mail. I'll keep trying, but this is an indication that you shouldn't expect ING Direct-like service.
I first reported on this bank in November 2005. They have often had competitive CD rates and have advertised on Bankrate.com. My last report on this bank was in September 2007. The bank is FDIC insured (FDIC Certificate # 33682).