I received an email from CNB Bank Direct about its new certificates of deposit. I'm disappointed in the rates: 2.00% APY 24-month, 1.70% APY 18-month and 1.35% APY 12-month. Another downside is a big minimum deposit of $25K, and here's the worst part: no early withdrawal permitted except for death or incompetence of the primary account holder.
CNB Bank Direct's savings account is still fairly competitive with a 1.50% APY for all balances (see review
). These CD rates don't bode well for the savings account.