CapFed Savings Bank Presidents' Day CD Specials - February 20 Only

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Deal Summary: 15-month CD (1.01% APY), 32-month CD (1.65% APY), 44-month CD (1.85% APY), $1k minimum deposit.

Availability: Nationwide – online, in-person, or by mail only on February 20, 2017.

Capitol Federal Savings Bank (CapFed) finally posted the rates for their Presidents’ Day CD Specials at approximately 2 p.m. (EST) today.

Unlike the majority of banks throughout the country, CapFed will be open on Presidents’ Day (February 20, 2017). On the Federal Holiday that honors all U.S. Presidents, CapFed is offering three President’s Day CD Specials for only one day: 15-month CD (1.01% APY), 32-month CD (1.65% APY), 44-month CD (1.85% APY). The CD Specials all require a minimum deposit of $1k, with no stated balance cap.

All three CD Specials are available as IRAs (Traditional, Roth, CESA) earning the same APYs, with the same funding requirements, and the same one-day availability.

The fine print on the Promotional Page states:

Personal, retirement and personal trust account deposits only.
Retirement accounts limited to 2016 and/or 2017 annual IRA contributions only.
IRA rollovers, renewals, transfers and endorsements NOT eligible.

As stated on the Important Information page, the Early Withdrawal Penalty reads as follows:

For certificates with an original or renewal term greater than one year, the penalty shall be equal to 180 days interest at the contract rate, non-compounded.
The penalty shall be assessed on the amount withdrawn unless such withdrawal should cause the balance to fall below the required minimum balance, in which case the penalty would be charged on the entire balance and the account would be closed.

Availability

According to the promotional page, opening any of Presidents’ Day CD Specials can be done online, or in person at of any of Cap Fed’s Kansas or Missouri branches, or by mail (snail mail, not e-mail).

The online application will be available from 12:01 a.m. CST through 11 p.m. CST. IRAs cannot be opened online.

Capitol Federal Savings Bank has 47 Kansas branches located in Andover, Derby, Emporia, Gardner, Kansas City, Lawrence (4), Leawood, Lenexa, Manhattan (2), Mission, Olathe (3), Overland Park (7), Prairie Village (2), Salina, Shawnee (3), Topeka (7), and Wichita (6), and four Missouri branches located in Liberty and Kansas City (3).

If you chose the mail option, your letter must be received on or before February 20, 2017, and it will be opened only on that date.

Note: as February 20, 2017, is a Federal holiday, there will be no mail service, so for all practical purposes, there is no way to open a CD by mail.

Credit Union Overview

Capitol Federal Savings Bank has an overall health grade of "A+" at DepositAccounts.com with an excellent Texas ratio of 2.64%, based on September 30, 2016 data. In the past year, CapFed has increased its total non-brokereddeposits by $342.67 million, an above average annual growth rate of 6.84%. Please refer to our financial overview of Capital Federal Savings Bank (FDIC Certificate # 27981) for more details.

Headquartered in Topeka, Kansas, Capitol Federal Savings Bank is a leader in residential lending in Kansas and Missouri, with assets in excess of $9 Billion. Cap Fed was originally chartered in 1893 as the Savings and Loan Association of Topeka. It would be impossible to summarize Cap Fed’s 124-year history in a few sentences, but a common thread that runs through Cap Fed’s history is longevity, in both serving the community and the retention of employees. The best example of this is Henry A. Bubb, who was hired in 1926 as an office boy, and at the time of his death in 1989, was Bank Chairman.

How the CD Specials Compare

When compared to 166 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available nationally, Capitol Federal Savings Bank’s 44-month CD Special APY currently ranks fourth.

Interest RateCD Length of TermCredit Union/Bank
2.07% APY4-Year Share CertificateMelrose Credit Union*
2.00% APY49-Month Share CertificateSpecialNASA Federal Credit Union
1.85% APY44-Month CD SpecialCapitol Federal Savings Bank

*Note: Melrose Credit Union is currently operating under an NCUA conservatorship.

When compared to 189 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available nationally, Capitol Federal Savings Bank’s 32-month CD Special APY currently ranks in the top nine.

Interest RateCD Length of TermCredit Union/Bank
1.85% APY37-Month CD SpecialRTN Federal Credit Union
1.81% APY3-Year Share CertificateMelrose Credit Union*
1.65% APY32-Month CD SpecialCapitol Federal Savings Bank

*Note: Melrose Credit Union is currently operating under an NCUA conservatorship.

The above rates are accurate as of 2/17/2016.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table or our new Rates Map page.

Comments
Bozo
Bozo   |     |   Comment #1
Before she died, my Mom (a resident of Leawood, Kansas) was a huge fan of CapFed. The rates aren't stellar (they never were), but I would give them a thumbs up for customer service. Before Mom died, I had to race around and get amendments to all her signature cards to consolidate her various and sundry CDs into one, better-paying, jumbo CD with USAA. The folks at CapFed were just too gracious.
Bozo
Bozo   |     |   Comment #4
Ten votes? Seriously? Lest you thought the banksters didn't follow this blog, check out the ten votes for my rather obscure post on a rather obscure bank. Hmm, wonder if the PR department at CapFed noticed my post and suggested that every person in the department click on the "thumbs up".
LuvCD
LuvCD   |     |   Comment #5
And, you win the turkey of the day!
Bozo
Bozo   |     |   Comment #6
It's now up to eleven. I'll soon be turkey of the week!
#2 - This comment has been removed for violating our comment policy.
#3 - This comment has been removed for violating our comment policy.
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