Dedicated to Deposits: Deals, Data, and Discussion

Special 13-Month CD Rate at North American Savings Bank - Available Nationwide

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North American Savings Bank

North American Savings Bank is offering a new special CD with two competitive rates. It's a 13-month CD, and the highest rate is 1.31% APY. This requires that you are an existing customer with a checking account or savings account opened before August. Without this relationship, the rate is 1.25% APY. Minimum deposit is $1,000. These rates are listed in the bank's rates table as of 12/12/2011.

There's an online application via andera.com. However, the online application only lists the standard CD terms. When I emailed the bank about this last year, I received the following instructions:

You are able to open the promotional CD's online. However, because we do not have an easy way to add these promotional rates to our website, we would ask that you select the 12 month CD and then call us at 816.316.4000, option 3, or email us and let us know which CD term you would like to open. We can change the term from the 12 months to whichever term you would like in our system prior to completing the CD opening process.

I used the bank's online chat service to ask this question today, and the CSR said essentially the same thing. Also, she said this CD is available nationwide.

A reader left a comment about his experience opening CDs with NASB in my 2010 post. He mentioned the following:

I have opened multiple CDs with NASB and each time they were most helpful. It is quite easy and they are very communicative with you during the process.

You can also open this CD at a branch. NASB branches are located in the Kansas City metro area.

The bank has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 22.07% (average) based on September 2011 data. Please refer to our financial overview of North American Savings Bank for more details. The bank has been a FDIC member since 1940 (FDIC Certificate # 29708).

How These CD Rates Compare

Even without the relationship rate, this 13-month CD yield of 1.25% is higher than the best 1-year CD rates available nationwide. That's currently 1.15% APY at CIT Bank, Melrose Credit Union and Doral Bank Direct. You can get a higher rate at Digital Credit Union (1.36% APY), but this has checking relationship requirements. These rates are accurate as of 12/12/2011.

Searching for Top CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.


  Tags: North American Savings Bank, CD rates, Missouri

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Comments
5 Comments.
Comment #1 by Anonymous posted on
Anonymous
Sounds like NASB may have the same problem Velocity CU did a few weeks back with displaying promotional CD rates.  I wonder if it has something to do with the Andera system. 

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Comment #2 by scottj posted on
scottj
Was the same procedure when I did their special 17 month 2.65% CD in April 2010. Between me and family opened 6 of them with no problems at all and things went exactly as they say it will. Those CDs matured a couple months ago and closing was very simple. Just sent secure message through site and had checks day after maturity. So they are easy to deal with. Still have checking account open there so might do one of these

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Comment #3 by Wil posted on
Wil
I also had the 17-month CD from April 2010. Everything went smoothly, same procedure as you are describing now. Like scottj, I had no problem closing, all it took was a phone call and a faxed letter of instruction. CSR e-mailed back to let me know she received the fax. Customer service is very helpful. Highly recommended bank!

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Comment #4 by Anonymous posted on
Anonymous
Last year opened the  1yr CD w credit card and it went through as a regular - 2% cash back which makes this very attractive.  However I see no evidence rates are going up in the next few years so I favor going long (we have now had 3 yrs of no rate increases).  On an aside not ewent to Liberrty Savings FCU in NJ and there online rates are wrong 5 yr is now 2.2% - rates are getting slaughtered so again I suggest going long.

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Comment #5 by Anonymous posted on
Anonymous
Tried to open CD w/NASB on line.Could not get past beneficiary page format w/o giving POD's Soc sec #.Phoned

bank- no help. Could continue by putting in zeros for SS # - but felt that was not a good idea. Cancelled out.

 

 

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