Bankers Trust (IA/AZ) Ups 7-27 Month Pick-a-Term CD

POSTED ON BY

Deal Summary: 7-27 Month Pick-a-Term CD (2.10-2.20% APY), 40-Month Promotional CD (2.50-2.60% APY), relationship required for higher APYs, $1k minimum deposit.

Availability: Online market area includes Iowa and Arizona.

Iowa-based Bankers Trust is continuing to offer its “Pick-A-Term” CDs and Promotional Rates CDs, which have bonus interest rate options. Based on Relationship Packages, the bonus interest rates are as follows: Bronze Tier, 0.02% APY; Silver Tier, 0.05% APY; Gold Tier, 0.07% APY; and Platinum Tier, 0.10% APY.

As the name suggest, the 7-27 month Pick-a-Term CD (2.10%-2.20% APY) lets you choose any term length between 7 and 27 months. Since late December, a total of 70 bps have been added to the Pick-a-Term CD's APY.

The 40-month Promotional CD (2.50%-2.60% APY) is a traditional 40-month term. The minimum deposit for either CD is $1k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.70%$1k-Bankers Trust Company40 Month CD Promo - Platinum Tier
2.67%$1k-Bankers Trust Company40 Month CD Promo - Gold Tier
2.65%$1k-Bankers Trust Company40 Month CD Promo - Silver Tier
2.62%$1k-Bankers Trust Company40 Month CD Promo - Bronze Tier
2.60%$1k-Bankers Trust Company40 Month CD Promo
Rates as of September 20, 2018.

While qualifying for each Relationship Package level is a bit detailed, the basic concept is rather simple:

1) Open an anchor checking account.

2) Qualify for Bonus Interest Rates based on which qualifying requirements are met.

The simplest way to qualify for the Bonus Interest Rates is based on account balance:

Bonus Level

Bronze

Silver

Gold

Gold

Platinum

Platinum

Deposit Requirement

$5k combined checking/savings balance

$15k combined deposit account balances

$25k combined deposit account balances OR

$50k outstanding consumer lending balances

$50k combined deposit account balances OR

$100k outstanding consumer lending balances

You can also qualify for the different bonus rates by fulfilling a series of checking account transactions (debit card, bill payments, eStatements, etc). Rather than list all the requirements, referring to Bankers Trust Company’s Benefits Banking Packing page is a better option.

According to the fine print on the CD Rate Page, the frequency of rate changes is not limited.

The interest rate on your account is the initial base interest rate stated on your CD
Signature Card, plus a bonus interest rate, if applicable. Your interest rate, APY, and
the applicable benefits tier may change while enrolled in the Relationship Package.

According to CSR, the Early Withdrawal Penalty for CDs with terms of less than 1 year is 90 days and 180 days for CDs with terms greater than 1 year.

Availability

Headquartered in Des Moines, Iowa, Bankers Trust has a brick-and-mortar presence in the Cedar Rapids and Des Moines (IA) areas, and the greater Phoenix (AZ) area. Through its online application, a select portion of its product line is available to all Iowa and Arizona residents.

Both the 7-27 Month Pick-a-Term CD and 40-month Promotional CD can be opened online, or at any of 15 Iowa branches, located in Altoona, Ames, Ankeny, Cedar Rapids (2), Clive, Des Moines (6), Grimes, Urbandale, and West Des Moines, or the sole Arizona branch in Phoenix.

Bank Overview

Bankers Trust has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.03% (excellent) based on December 31, 2017 data. In the past year, Bankers Trust has increased its total non-brokered deposits by $343.95 million, an excellent annual growth rate of 11.21%. Please refer to our financial overview of Bankers Trust (FDIC Certificate # 953) for more details.

Bankers Trust Company opened its doors in June 1917, and after the first day of business, deposits exceeded $485k and loans nearly reached $500k. The Bank’s growth accelerated when it consolidated with, or purchased the assets of four Des Moines banks: The Northern Trust (1924), Security Trust and Savings Bank (1926), Peoples Savings Bank (1928), and Des Moines Bank and Trust Company (1953). With $4.47 billion in assets, Bankers Trust Company is currently Iowa’s largest bank and the 235th largest bank in the nation.

How the CDs Compares

Let me state the obvious: the shorter the term, the more competitive the APY. Therefore, when compared to the similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available within the Bank’s market area, Bankers Trust's 7-27 Month Pick-a-Term CD APY (base rate) currently ranks first.

When compared to the 281 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available within the Bank’s market area, Bankers Trust's 40-Month Promotional CD APY (base rate) currently ranks fifth.

The above rates are accurate as of 3/26/2018.

To look for the best CD rates, both nationwide and in your area, please refer to our CD Rates Table page.

Related Pages: Cedar Rapids CD rates, Des Moines CD rates, Phoenix CD rates, 1-year CD rates, 5-year CD rates

Comments
john
john   |     |   Comment #1
I live in Arizona. Should I park a large sum of money in the 7-month CD earning 2.2%?
RJM
RJM   |     |   Comment #2
I would probably do it if I lived in a market area. The benefit of 7 months is Id have the money back in time for tax loss selling or the ability to get a higher rate at that time. Probably.

I already have some Nasa 2.25% 11 month ones.
Bankers Trust (IA/AZ) Adds 40-Month Promo CD

Deal Summary: 40-Month Promotional CD (2.30-2.40% APY) and 7-27 Month Pick-a-Term CD (1.70-1.80% APY), relationship required for higher APYs, $1k minimum deposit.

Availability: Online market area is Iowa and Arizona.

In the past few years, Iowa-based Bankers Trust has had a variety of “Pick-A-Term” CDs and Promotional CDs. Bankers Trust is currently offering one of each, with bonus interest rate options. Based on Relationship Packages, the bonus interest rates are as follows: Bronze Tier, 0.02% APY; Silver Tier, 0.05% APY; Gold Tier, 0.07% APY; and Platinum Tier,...

Continue Reading
Bankers Trust Company (IA/AZ) Has 10-Month Promo CD

Deal Summary: 10-Month Promotional CD, 1.60%-1.70% APY, relationship required for higher APYs, $1k minimum deposit.

Availability: Online market area includes Iowa and Arizona.

Iowa-based Bankers Trust Company has had a variety of “Pick-A-Term” CDs (with bonus interest rates) over the past few years. While the latest offering is not a Pick-A-Term CD, the new 10-Month Promotional CD (base 1.60% APY) includes the bonus interest rates option. The 10-month Promotional CD requires a minimum deposit of $1k and there is no stated maximum balance cap.

Continue Reading
Bankers Trust Company (IA/AZ) Adds 9-21 Pick-A-Term CD

Deal Summary: 9-21 Month Pick-A-Term CD; 1.50% APY- 1.60% APY; relationship required for higher APYs; $1k minimum deposit.

Availability: Market area includes Cedar Rapids and Des Moines, Iowa area and the greater Phoenix, Arizona area.

Iowa-based Bankers Trust Company has brought the Pick-A-Term CD back, and the current version is the 9-21 Month Pick-A-Term CD (1.50% base APY). There are four different levels of Bonus Interest Rates, based on Relationship Packages: Bronze Tier 0.02% APY, Silver Tier 0.05% APY, Gold Tier 0.07% APY, and Platinum Tier...

Continue Reading
Bankers Trust Company Offers Limited Time 7-27 Month CD
Availability: Iowa

In September, I wrote about Bankers Trust Company’s 7-27 Month Pick-A-Term CD (1.30% Base APY) that had four different levels of Bonus Interest Rates (0.02%-0.10% APY). Qualifying for a Bonus Interest Rate included a lengthy list of transactional activities and/or checking/savings/loan balance requirements.

Bankers Trust Company has just simplified the process with a limited-time 7-27 Month Special CD Rate Promo (1.40% APY) that has no hoops to jump through to qualify for the competitive APY. The minimum deposit for the 7-27 Month Special CD Rate Promo is...

Continue Reading
Bankers Trust Company (IA/AZ) Has 7-27 Month Pick-A-Term CD
Availability: Cedar Rapids and Des Moines, Iowa area and Phoenix, Arizona area

Iowa-based Bankers Trust Company is offering a 7-27 Month Pick-A-Term CD (1.30% Base APY), with four different levels of Bonus Interest Rates, based on Relationship Packages: Bronze Tier 0.02% APY, Silver Tier 0.05% APY, Gold Tier 0.07% APY, and Platinum Tier 0.10% APY. The minimum deposit for the Pick-A-Term CD is $1k and there is no stated maximum balance cap.

While qualifying for each Relationship Package level is a bit detailed, the basic...

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.