North American Savings Bank (NASB) is offering a series of Relationship CDs with APYs dependent on checking account balances. This most competitive of the Relationship CDs is the 24-month, which will earn 2.02% APY when a minimum $10k balance is maintained in NASB checking account(s). The minimum opening deposit for the CD is $1k.
According to the fine print on the Rates page,
Primary relationship based on the aggregate daily balances in your NASB Checking account(s), on which you are the primary or secondary account holder. Money Market accounts are NOT eligible for Relationship CD rates. The CD base interest rate is guaranteed for the term of the CD. Additional Relationship CD rate may vary daily based upon aggregate checking balances.
The various APYs for the 24-month CD are as follows:
- 2.02% APY – checking balance of $10k+
- 1.92% APY – checking balance of $2.5k+
- 1.82% APY – checking balance of $1k+
- 1.51% APY – no checking relationship
In a Live Chat, CSR stated the Early Withdrawal Penalty is six months interest.
NASB has five checking accounts (Rewards, Free, Student, Elite 50, and Preferred), any of which qualify for the Relationship CD. Detailed descriptions can be found on the About Checking page.
NASB also offers $25 Refer-A-Friend bonus for new Free Checking accounts, no limit on the number of referrals you can make/receive.
Headquartered in Grandview, Missouri, North American Savings Bank offers its services and products to all U.S. citizens and permanent residents of the 50 United State and the District of Columbia. NASB requires a permanent U.S. address to open and maintain any account.
The Relationship CD can be opened online, or at any of eleven Missouri branches located in Excelsior Springs, Gladstone, Grandview, Harrisonville, Independence, Kansas City, Lee’s Summit, Lexington, Odessa, Platte City, and St. Joseph.
North American Savings Bank has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 3.75% (excellent), based on March 31, 2017 data. In the past year, NASB has increased its total non-brokered deposits by $151.52 million, an excellent annual growth rate of 13.9%. Please refer to our financial overview of North American Savings Bank (FDIC Certificate # 29708) for more details.
North American Savings Bank had its beginnings as the City Building and Loan Association (CBLA) in St. Louis in the early 1920s. 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 has assets in excess of $1.9 billion today, and serves not only the Kansas City metropolitan area, but offers nationwide accounts.
How the Relationship CD Compares
For this comparison, it is assumed that a $10k+ checking balance will be maintained throughout the term of the CD. Therefore, when compared to the 196 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, North American Savings Bank’s 24-Month CD APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.02% APY||24-Month CD ($10k min in checking)||North American Savings Bank|
|1.80% APY||25-Month Special CD||Veridian Credit Union|
|1.75% APY||25-Month Certificate||Bethpage Federal Credit Union|
The above rates are accurate as of 5/26/2017.