Ohio-based Home Savings is currently offering two limited-time online CD Specials: 18-month (2.00% APY) and 36-month (2.50% APY). The minimum deposit is $500 of new money, with a balance cap of $225k. New money is simply defined as “funds not currently on deposit with Home Savings.”
As stated in the Account Disclosure document, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of 183 days through 24 months: The fee we may impose will equal 90 days interest on the amount withdrawn subject to penalty.
If your account has an original maturity of greater than 24 months: The fee we may impose will equal 180 days interest on the amount withdrawn subject to penalty.
The grace period before the CD Specials automatically renew is seven calendar days. The current rates for Home Savings regular 18 and 36-month CDs are 0.25% APY and 0.50% APY, respectively.
Many thanks to the DA reader from Ohio who emailed me about these very competitive CDs.
Headquartered in Youngstown, Ohio, Home Savings’ market area includes all of Ohio and Beaver County, Pennsylvania.
Opening either of the CD Specials can only be done online.
Home Savings has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.09% (excellent) based on September 30, 2017 data. In the past year, Home Savings has increased its total non-brokered deposits by $1.55 billion, an excellent annual growth rate of 592.03%. Please refer to our financial overview of Home Savings (FDIC Certificate # 35385s) for more details.
Home Savings (a subsidiary of United Community Financial Corporation) was founded in 1889 as The Home Savings and Loan Company of Youngstown, Ohio. Eleven months ago, North Canton's (OH) Premier Bank & Trust joined forces with Home Savings, forming Ohio’s 13th largest bank with more than $2.6 billion in total assets. A September 2016 article in Crain’s Cleveland Business announced the definitive merger.
”We are very pleased to be partnering with Premier Bank & Trust and expanding our presence in Canton, Akron and St. Clairsville,” said Gary Small, UCFC president and CEO, in a news release. “Premier’s strengths fit perfectly with Home Savings’ focus on commercial banking and they bring wealth management and trust capabilities we can leverage across the entire Home Savings footprint.”
How the CD Specials Compare
When compared to the 351 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, Home Savings’ 18-month CD Special APY currently shares the top spot with Service Credit Union’s 18-month Share Certificate Special APY.
When compared to the 431 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, Home Savings’ 36-month CD Special APY currently ranks first.
The above rates are accurate as of 12/22/2017.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.