UPDATE 6/7/2018 - Available again. Previous offering lasted only a few days after the April 24, 2018 blog post.
Argentine Federal Savings unveiled its 14-month CD Special (2.00% APY) on New Year’s Eve. That initial rate lasted almost three months before it fell to 0.70% APY. In two rate increases in the past four days, AFS added a total of 195 bps, giving the 14-month CD Special an impressive 2.65% APY. The minimum deposit is $1k of new money, with no stated balance cap.
The CD Special is also available as an IRA (Traditional and Roth) earning the same APY, but requiring a smaller minimum deposit of $250.
CSR stated that the Early Withdrawal Penalty is six months interest.
Headquartered in Kansas City, Kansas, Argentine Federal Savings’ market area covers the greater Kansas City metropolitan area.
Opening a CD Special must be done at any of the two Kansas branches, which are located in Kansas City and Overland Park.
Argentine Federal Savings’ online banking platform is currently devoted to account management and bill payment services.
Argentine Federal Savings has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.75% (excellent), based on December 30, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $1.67 million, an excellent annual growth rate of 4.33%. Please refer to our financial overview of Argentine Federal Savings (FDIC Certificate #28507) for more details.
Argentine Federal Savings was founded in 1906 as the Argentine Building and Loan Association. With initial assets of $460k, the Association began serving the community surrounding the Kansas City Smelting and Refining Company. (In case you were wondering, the Argentine name is derived from the Latin word for silver - argentum. The city of Argentine, which became a part of Kansas City in 1910, was known as the “silver refining capital of the world.”) On the eve of the Association's 50th anniversary, the name was changed to the Argentine Savings and Loan, with the Argentine Federal Savings rebrand happening in 1993.
How the CD Special Compares
When compared to the 308 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available within the Bank’s market area, Argentine Federal Savings' 14-month CD Special APY currently ranks first.
The above rates are accurate as of 4/24/2018.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.