NASB Dramatically Increases 3-year CD Special APY (Checking Required)
In December, North American Savings Bank (NASB) unveiled a 3-year CD Special offering tiered APYs based on balances in a NASB checking account. NASB recently boosted the 3-year CD Special base rate from 0.75% APY to 1.87% APY. The minimum opening deposit for the CD Special is $1k.
With three APYs based on checking balances, the 3-year CD Special can earn up to a very competitive 2.02% APY.
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.
CSR stated that the Early Withdrawal Penalty is six months interest with partial withdrawals allowed.
Checking Accounts
NASB has three checking accounts (Prosper, Thrive, and Advance), any of which qualify for a 3-year CD Special. Detailed descriptions can be found on the NASB Checking page.
NASB also offers a $50 Visa Reward Card when friends or family members open a new checking account and have two direct deposits and at least two debit card transactions within 60 days of account opening. There is a limit of ten referrals per calendar year.
Availability
Headquartered in Grandview, Missouri, North American Savings Bank has offered portions of its product line nationwide in the past, but the online 3-year CD Special is only available to Kansas and Missouri residents. NASB requires that all applicants have a permanent U.S. address to open and maintain any account.
Although NASB has ten full-service Missouri branches in the greater Kansas City metropolitan area, the 3-Year CD Special can be ONLY opened online.
Bank Overview
North American Savings Bank has an overall health rating of "B+" at DepositAccounts.com, with a Texas Ratio of 5.00% (excellent), based on December 31, 2021 data. NASB has an excellent capitalization level (19.67%), the result of holding $2.18 billion in assets, with $428.25 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 15th largest bank headquartered in Missouri, with deposits in excess of $1.3 billion and nearly 42,000 customer accounts.
How the 3-Year CD Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the market area and have minimum deposit requirements of $10k or less, only one credit union has a higher rate than currently offered on the NASB 3-year CD (base rate). The following table compares the 3-year CD base rate to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.
The above information and rates are accurate as of 4/8/2022.
To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.
