Phoenixville Federal B&T (PA) Ups 49-60 Month Growth CD (2.35% APY)

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Deal Summary: 49-60 month Growth CD, 2.35% APY, $500 minimum deposit.

Availability: Market area includes five SE Pennsylvania counties.

Over the weekend, Phoenixville Federal Bank & Trust increased the rate on its 49-60 month Growth CD (2.35% APY). The minimum opening deposit is $500, with no stated balance cap.

In the past seven months, the 49-60 month Growth CD has experienced three rate increases, adding a total of 75 bps. The new 2.35% APY is the highest rate since the Growth CD was added to the product line more than six years ago.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.35%$500-Phoenixville Federal Bank and Trust49 - 60 Month Growth CD
2.35%$500-Phoenixville Federal Bank and Trust49 - 60 Month Growth IRA CD
Accounts mentioned in this post. Rates as of November 17, 2017.

The 49-60 month Growth CD is also offered as an IRA (Traditional), earning the same APY with the same funding requirements.

According to CSR, the Early Withdrawal Penalty is 180 days interest.

Availability

Headquartered in Phoenixville, Pennsylvania, Phoenixville Federal Bank & Trust’s market area includes the counties of Berks, Bucks, Chester, Delaware, and Montgomery.

Opening a Growth CD must be done at any of five Pennsylvania branches, located in Collegeville, Kimberton, Limerick, Phoenixville, and Royersford. While the Bank does have an online application, only checking accounts and savings accounts can be opened online.

Bank Overview

Phoenixville Federal Bank & Trust has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 8.05% (excellent) based on June 30, 2017 data. In the past year, the Bank increased its total non-brokered deposits by $19.36 million, an excellent growth rate of 5.33%. Please refer to our financial overview of Phoenixville Federal Bank & Trust (FDIC Certificate # 29995) for more details.

In 1911 in the tiny village of Oaks, Pennsylvania, a group of local residents formed the Oaks Building & Loan Association to help their neighbors secure home mortgages. For the next 27 years, the B&L monthly meetings were held in a variety of locations, including the private residences of members. In 1938, the B&L opened its first branch location in the Borough of Phoenixville and applied for a federal charter, which was granted in 1939. The new charter prompted a name change, and the B&L became the Phoenixville Federal Savings & Loan Association. Following the establishment of the Trust & Wealth Management and Investment Brokerage division, the name was changed to Phoenixville Federal Bank & Trust in 2003.

How the Growth CD Compares

When compared to the 293 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the Bank’s market area, Phoenixville Federal Bank & Trust’s 49-60 Month Growth CD APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
2.35% APY49-60 Month Growth CDPhoenixville Federal Bank & Trust
2.26% APY48-Month Share CertificateAmerican Heritage Federal Credit Union
2.25% APY49-Months Share Certificate SpecialNASA Federal Credit Union

The above rates are accurate as of 11/3/2017.

To look for the best CD rates, both nationwide in state specific, please refer to our CD rates table or our Rates Map page.

Related Pages: Philadelphia CD rates, 5-year CD rates

Comments
4.00% 14-Month CD at Phoenixville Federal Bank & Trust in Pennsylvania
Update 1/09/09: CD rates have fallen. As of today, the 14-mo CD APY is 3.50% and the 27-mo CD APY is 3.60%.

Phoenixville Federal Bank & Trust is offering some competitive CD specials. These include a 3.85% APY 27-month CD, a 4.00% APY 14-month CD, a 3.15% APY 9-month CD and a no-penalty 2.50% APY 2-month CD. The no-penalty CD has a $10,000 minimum, and the others have a $1,000 minimum deposit. These are also availabe in an IRA. These rates are listed in the bank's rate table as of 1/05/2009....

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