My last report on Ascencia was in May after they had raised their 1-year CD yield to 3.95% APY.
Once nice CD 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 decent FAQ on their CDs. It states that rates are reviewed every Tuesday morning although they are subject to change at any time. So the current rates are likely to last at least through next Monday. The early withdrawal penalty for the certificates of deposit with terms of 12 months and under is 3 months of interest of the amount withdrawn. Longer term CDs have a penalty of 6 months of interest (earned or unearned).
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. Unfortunately, their money market account yields haven't been competitive for awhile.
For more information on Ascencia CDs, please refer to my March Ascencia post.
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 3 star-rating (adequate) at BauerFinancial based on 3/31/08 date. This is down from 4-stars on 12/31/07 data. Bankrate also gives PBI Bank 3 stars (performing) based on 3/31/08 data.
Other High Certificate of Deposit Yields
Bank of America had been offering a 4.11% APY 7-month CD, but I just noticed this morning, that they're now listing a lower rate. However, Countrywide Bank which is now part of Bank of America is still offering a 4.10% APY 7-month CD. For an 8-month term, WaMu is still offering an online 4.25% APY CD. For more details about these and other high CD rates, please refer to my latest weekly summary.