Hills Bank (IA) Offers 47-Month CD Special, 3.25% APY


Deal Summary: 47-month CD Special, 3.25% APY, $500 minimum deposit.

Availability: Online market area includes all of Iowa.

Earlier this month, Iowa-based Hills Bank and Trust Company (Hills Bank) added a 47-month CD Special, earning 3.25% APY. The minimum opening deposit is $500, with no stated balance cap.

3.25%$500-Hills Bank and Trust Company47 Month CD Special
3.25%$500-Hills Bank and Trust Company47 Month IRA Special (Traditional, Roth)
3.25%$500-Hills Bank and Trust Company47 Month CESA Special
Rates as of July 18, 2019.

The CD Special is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

As stated in the Terms and Conditions document, the Early Withdrawal Penalty reads as follows:

If we do allow you to withdraw principal before the maturity date, we may impose a penalty.

CD Term/Interest Penalty: Under 90 days/1 month; 3-5 months/3 months; 6-23 months/6 months; 24-47months/12 months; 48-60 months/ 18 months interest on the amount withdrawn.

In a Live Chat, CSR stated that funding a CD online can be done by ACH transfer, with no limit on the deposit amount. There is a 10-day grace period before the CD automatically renews. Maturing funds can be distributed by wire ($20 fee) or cashier’s check; no ACH transfer available. Maturing funds can also be deposited in an existing Hills Bank checking or savings account.


Headquartered in Hills, Iowa, Hills Bank has a physical presence in three eastern Iowa counties (Johnson, Linn, and Washington), but its product line is available to all Iowa residents through its online application.

Opening a CD Special can be done online, or at any of the 19 Iowa branches, which are located in Cedar Rapids (3), Coralville, Hills, Iowa City (5), Kalona, Lisbon, Marion (2), Mount Vernon, North Liberty, Washington, and Wellman.

Bank Overview

Hills Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.65% (excellent), based on December 31, 2018 data. In the past year, the Bank has increased its total non-brokered deposits by $277.44 million, an excellent annual growth rate of 13.81%. Please refer to our financial overview of Hills Bank (FDIC Certificate # 14650) for more details.

The original Hills Savings Bank was founded in 1904 by eleven local citizens with a total of $10,000 in capital. Bank stock subscriptions were subsequently sold, valued at $100 per share.

Approximately 25 years after the Bank’s doors opened, the Great Depression struck causing 600 banks in Iowa to fail. Among those to close were all five banks in Iowa City. This was a defining time and turning point for the small Hills Savings Bank in Hills, whose doors remained open throughout the Great Depression.

Hills Bank is currently Iowa’s fourth largest bank, with assets in excess of $3 billion and more than 155,000 customer accounts.

How the CD Special Compares

When compared to 298 similar length-of-term CDs tracked by DepositAccounts.com that are available to Iowa residents, Hills Bank’s 47-month CD Special APY currently ranks first.

The above rates are accurate as of 4/22/2019.

To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Cedar Rapids CD rates, 5-year CD rates


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