It's common for stores to offer Presidents' Day specials, but it's rare to see them at banks. Capitol Federal Savings Bank in Kansas is advertising its Presidents' Day CD Special in the newspaper and on its website. Unfortunately, it's keeping the CD details under wrap. The special is only available on Presidents' Day (February 20, 2012), and it's "only available for personal accounts opened in person at any Capitol Federal office." Details are listed in the bank's promo page as of 2/13/2012.
Update 2/17/2012: The bank has made public its CD specials for Presidents' Day. There are two specials: 1.00% APY 19-month CD and a 2.00% APY 55-month CD. Minimum deposit is $1,000, and they will only be available at the bank's offices on February 20, 2012.
It's hard to say if this CD special is going to be competitive. Nevertheless, if you live near one of the bank's Kansas branches and if you're shopping for CDs, it doesn't hurt to check next Monday on the special CD rate and term. The bank did offer a good deal in its 2007 Presidents' Day CD special with a 5.50% APY 1-year CD. Of course, rates were much higher back then. As a comparison, the best 1-year CD rate at a bank was 5.46% APY in February 10, 2007. Currently, the best 1-year CD rate at a bank is 1.15% APY at Doral Bank Direct. It should also be noted that in 2007, the bank disclosed the CD details early. So that may suggest this new CD special might not be as competitive.
Most banks and credit unions are closed for Presidents' Day. However, there have been a few other banks that have offered Presidents' Day promotions. One example is Chase Bank which has advertised a checking account bonus that was good only for Presidents' Day. However, you probably can get the same bonus on any day with the online Chase promotions.
Capitol Federal Savings Bank branches are located in several cities of Kansas including Kansas City, Overland Park, Topeka, Wichita and Manhattan.
The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 2.50% (excellent) based on September 2011 data. Please refer to our financial overview of Capitol Federal Savings Bank for more details. The bank has been a FDIC member since 1938 (FDIC Certificate # 27981).
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