NASB Boosts Nationally Available CD Rates Again

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Deal Summary: CDs – 7-month (3.56% APY), 13-month (4.03% APY), and 24-month (4.24% APY), $5k minimum deposit.

Availability: Nationwide through online application

Time for some “DA déjà vu” – feeling you’ve read this blog post before, but the rates are actually higher than you remember.

It’s been less than three weeks since the most recent Missouri-based North American Savings Bank (NASB) CD blog post. Following a recent rate increase, the three nationally available CDs now offer rate-leading APYs: 7-month (3.56% APY), 13-month (4.03% APY), and 24-month (4.24% APY). The minimum opening deposit for any of these CDs is $5k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
4.50%$5k-North American Savings Bank24 Month CD Special
4.29%$5k$500kNorth American Savings Bank13 Month CD Special
3.82%$5k-North American Savings Bank7 Month CD Special
Rates as of December 1, 2022.

NASB has an eBook, “Everything You Need To Know About Certificate of Deposit Accounts” available for download, but it contains only the most basic of information. As there is no Truth-in-Savings disclosure on NASB’s website, the following comes from a Live Chat session.

  • Early Withdrawal Penalty for any of the CDs is six months interest with partial withdrawals allowed.
  • Funding a CD can be done by ACH or wire transfer.
  • Maturing fund can be distributed by cashier’s check to the address on file, ACH, or wire transfer.
  • There is a seven calendar day grace period before a CD automatically renews.
  • Interest is compounded and credited monthly and can be withdrawn penalty-free any time after it is credited.
  • There is no limit of beneficiaries (equal shares) that can be designated. Full legal name, DOB, phone number, and Social Security number is required for each named beneficiary.
  • No credit check is done when opening a CD.

Availability

Headquartered in Kansas City, Missouri, North American Savings Bank is currently offering the 7-month, 13-month, and 24-month CDs nationwide to all U.S. citizens and alien residents (18 years or older) who have a valid Social Security number and a permanent physical address in any of the 50 states.

Opening any of these CDs can be done online. If you’re looking to open a CD in person, NASB has ten full-service branches, located in Kansas City metro area: Excelsior Springs, Gladstone, Grandview, Harrisonville, Independence, Kansas City, Lee’s Summit, Lexington, Platte City, and St. Joseph.

Bank Overview

North American Savings Bank has an overall health rating of "B+" at DepositAccounts.com, with a Texas Ratio of 3.50% (excellent), based on June 30, 2022 data. NASB has an excellent capitalization level (19.67%), the result of holding $2.48 billion in assets, with $425.29 million in equity. Please refer to our financial overview of North American Savings Bank (FDIC Certificate # 29708) for more details.

Established in 1923 in St. Louis, North American Savings Bank was originally known as the City Building and Loan Association (CBLA). A few years later, CBLA moved across the state to Kansas City and changed its name to North American Savings Association; it was known as NASA well before the space age. In the 1990s, the name was changed to North American Savings Bank when the Bank became a federally chartered stock savings bank. North American Savings Bank is currently the twelfth largest bank headquartered in Missouri, with deposits in excess of $1.3 billion and more than 40,000 customer accounts.

How the 7-Month CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the NASB 7-Month CD. The following table compares the 7-Month CD to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.

How the 13-Month CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the NASB 13-Month CD. The following table compares the 13-Month CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 24-Month CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, only one credit union has a higher rate than currently offered on the NASB 24-Month CD. The following table compares the 24-Month CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 10/25/2022.

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

Related Pages: Kansas City CD rates, St. Joseph CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
hampshire
  |     |   Comment #1
I like the savings account but looks like brokered cd's are a good bit higher than bank cd's
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Availability: Nationwide through online application

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