Competitive CD Rates at CNBBankDirect - Available Nationwide


4.60%$1-CNB Bank DirectHigh Yield Savings Account
Rates as of April 24, 2024.

Earlier this month CNBBankDirect reduced its CD rates, but its rates remained competitive. As of 1/26/2011, the rates are 1.35% APY for 1 year, 1.50% APY for 18 months and 1.65% APY 2 years. The 18-month CD rate is the most competitive one. For a nationally available CD, only Alliant Credit Union's Jumbo 18-month CD has a higher rate (currently 1.55% APY).

One positive change is the improvements CNBBankDirect made to its website. The CD details are now clearly listed on the bank's CD page. The CD features remain the same as before:

  • $25K minimum, $250K maximum deposit
  • Must have existing CNBBankDirect savings account
  • CD funded from funds in the CNBBankDirect savings account
  • Interest can be paid into savings account or added to CD
  • Early withdrawal penalty is 90 days of interest on amount withdrawn for terms of 12 months and under. It's 180 days for terms over 12 months.
  • At maturity, you can specify closure instructions using their "Certificate Redemption Form". Funds would then be transferred to your CNBBankDirect savings account.

Some might think the online savings account requirement is a pain, but at least it makes the CD funding and withdrawal easier. You can just use the bank's ACH bank-to-bank transfer service to deposit and withdraw money from the savings account. Last year a reader provided a review of this savings account and its transfer service:

The online access system is no-frills but usable. You can only transfer back to the account you used to set up the account, so make certain you fund from the right account with your opening deposit. The interest rate has been very good, but not the best available. ACH transfers happen very quickly so that is a plus with this account. It is possible to pull money out of this account if you issue the instruction from another bank, but CNB doesn't like to tell you that.

The savings account used to have very competitive rates. Back in September 2008 they had 6-month promo offering 4.00% APY on the entire balance. The account stayed fairly competitive after the promotion, but it's no longer on the top list of the best rates. The rate is now 1.20% APY as of 1/26/2011.

CNB Bank Direct Overview

CNB Bank Direct is a division of Citizens National Bank, based in Bluffton, OH. Citizens National Bank is a small bank with $402 million in deposits. When I reported on the bank in 2008, it had only $350 million in deposits so the internet savings account seems to have helped raise their deposits.

Citizens National Bank has an overall health score at of 3 out of 5 with a Texas Ratio of 19.61% (excellent) based on September 2010 data. Please refer to our financial overview of Citizens National Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 6531).

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of

Related Pages: CNB Bank Direct, CD rates, savings account

  |     |   Comment #1
I recently closed my CNB Direct savings account.  I got tired of their user interface which was just awful.  I don't mind jumping through some hoops to get a higher interest rate but I finally just gave up and closed the account and moved my money elsewhere.  If they have improved their UI, that has to be a good thing as they had nowhere to go but up.
  |     |   Comment #2
Hey Ken, thought it was interesting to see that the Citizens National Bank has a link to your blog!  Check out,

You are listed under the section, "What Others Have to Say About CNBBankDirect"

Very cool :)
  |     |   Comment #3
Thanks Shannon. Nice to see that link!
Top Internet CD Rates at CNB Bank Direct - Available Nationwide

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New Online Savings Account at CNB Bank Direct
Update 10/09/09: The yield has fallen to 1.70% APY. Refer to the bottom of the post for the rate history.

Citizens National Bank has started a new internet bank called CNB Bank Direct with a no-minimum online savings account. The yield isn't the best, but it's competitive at 3.30% APY as of 8/04/08.

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4.00% Online Savings Account for 6 Months at CNBBankDirect

Update 3/13/2011: The yield has fallen to 1.15% APY. Refer to the bottom of the post for the rate history.

Update 10/11/08: The 6-month guarantee for the 4% APY is no longer available for new customers. I was told by the bank's CSR that those who applied before Friday when the 6-month guarantee was still listed should receive the guarantee.

CNBBankDirect is offering 4.00% APY on its no-minimum online savings account, and the 4% is guaranteed for the first 6 months. The yield had been 3.50% APY since early August. For my...

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