Third Federal S&L Ups Rate On 49-Month CD Special

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Deal Summary: 49-month CD Special (2.15% APY) $500 minimum deposit

Availability: Nationwide

Ohio-based Third Federal Savings & Loan (Third Federal) ended the week by raising the rate on its 49-month CD Special (2.15% APY). The minimum deposit is $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.15%$500-Third Federal Savings and Loan (OH)49 Month CD Special
Accounts mentioned in this post. Rates as of October 17, 2017.

In the past ten months, the 49-month CD Special has added 90 bps in four rate increases. Interestingly, the 49-month CD Special’s rate is higher than that of the 60-month CD (2.00% APY) and 72-month CD (2.05% APY).

As stated in the Truth in Savings document, the Early Withdrawal Penalty reads as follows:

The penalty will be figured on the amount withdrawn at the simple interest rate being paid on the account, and will be deducted from the account balance or the amount withdrawn.

For accounts with a term of:

    4 years or more - loss of 18 months’ interest

Availability

Headquartered in Cleveland, Ohio, Third Federal Savings & Loan’s product line is available to all U.S. residents and resident aliens, 18 years or older.

Not to be confused with the Cincinnati-based Fifth Third Bank, Third Federal is the fifth largest bank in Ohio, with assets in excess of $13.3 billion and nearly 312,000 customer accounts.

Opening a CD Special can be done online, by phone (800.THIRD.FED), or at any of the 21 Ohio branches, located in the Greater Cleveland metropolitan area, or the 17 Florida branches, located along both the Atlantic and Gulf coasts.

Bank Overview

Third Federal Savings & Loan has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.92% (excellent) based on March 31, 2017 data. Third Federal has an excellent capitalization level (11.27%), the result of holding $13.37 billion in assets with $1.51 billion in equity. Please refer to our financial overview of Third Federal Savings & Bank (FDIC Certificate # 30012) for more details.

Nearly 80 years ago in the depths of the Great Depression, almost one-third of all Cleveland residents were unemployed or underemployed.

To keep the dream of home ownership alive, Ben S. Stefanski and his wife, Gerome, applied for a federal charter to create a savings and loan association in the vicinity of East 70th Street and Broadway Avenue. In fact, the Stefanskis were so committed to the idea that they applied for the charter on their honeymoon.

With the initial $50,000 in capital provided by members of the Slavic Village neighborhood, Third Federal Savings and Loan Association opened its first office on Broadway Avenue on May 7, 1938.

Beyond organic growth and expansion, much of Third Federal has remained the same, with its headquarters housed in the Slavic Village neighborhood and with a member of the Stefanski family serving as the Bank’s President and CEO.

How the CD Compares

When compared to the 167 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Third Federal Savings & Loan's 49-Month CD Special APY currently ranks third.

The above rates are accurate as of 7/22/2017.

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

Related Pages: Cleveland CD rates, Miami CD rates, Tampa CD rates, West Palm Beach CD rates, Ft. Myers CD rates, 5-year CD rates, nationwide deals

Comments
ted
ted   |     |   Comment #1
If 2%@2yrs is coming soon (hopefully) then this looks like a very bad deal.
Looks like they are just playing catch-up on the long end.
Att
Att   |     |   Comment #2
Go with NASA at 2.25% for 39 months. Better choice I feel. I have funds in Ally 11 month no penalty. Looking for the great deal maybe a 3%
Crooked H
Crooked H   |     |   Comment #3
Sittin dead red on 3% 500k
111
111   |     |   Comment #5
Translation please? Exact rate? Term? Minimum required? Maximum possible? Early withdrawal penalty? And obviously, where geographically in the US could someone start this account? And, the financial institution where you're getting this rate? If in fact that's really the case? Please, do not play games. No one these days has the time for that crap.

The term "Dead Red" - with nothing else proffered - does not impress me much, except perhaps as an obsolete phrase from the Cold War from the 1950's. Got it?
Nothing
Nothing   |     |   Comment #6
My interpretation is...sitting on the sideline until 3% surfaces again
111
111   |     |   Comment #7
Could be. But, there was a 3% CD from Andrews last Nov. with a long term, but a fairly innocuous EWP. Which I bought into, BTW.

Still, I'd like to know what "Crooked H" is trying to say here, exactly... To me., the way he stated it, it makes no sense.
Crooked H
Crooked H   |     |   Comment #9
in baseball a batter will often patiently sit or wait for a certain pitch ..typically a four seam fast ball...where he will see a lot of red... the stiching on the ball is red... will sometimes connect dead on ..and crank it out of the park ...be patient team DA we will see 3%
!!!
!!!   |     |   Comment #10
Baseball and interest rates?

No, it's politics and interest rates.
Att
Att   |     |   Comment #4
And many believe 3% is a great rate
me1004
me1004   |     |   Comment #11
You have that right -- we have been abused on rates for so long that abuse now seems great. Until we have 5%, we are being abused. And unfortunately, it doesn't sound like the Fed has plans to ever get rates back up to what used to be considered normal, the Fed is talking of stopping at about 2% below that -- and locking in permanent abuse.
Luvcd
Luvcd   |     |   Comment #12
The old 5% is the new 3%. As the younger "folks" know, or soon will, they have to save more! "We" have had this environment going on eight years...either go for riskier investments or get a job! Reality is now! And, the guy in the WH is not there savers who like to save.
#8 - This comment has been removed for violating our comment policy.
Third Federal S&L Adds Three CD Specials, Available Nationwide

Deal Summary: 17-month CD Special, 1.20%; 38-month CD Special, 1.75% APY; 66-month CD Special, 2.10% APY; $500 minimum deposit.

Availability: Nationwide

Ohio-based Third Federal Savings & Loan (Third Federal) began the week by promoting a trio of CD Specials: 17-month (1.20%), 38-month (1.75% APY), and 66-month (2.10% APY). The minimum deposit is $500, with no stated balance cap. Of the three, the 38-month CD Special is the most competitive.

As stated in the Truth in Savings document, the Early Withdrawal Penalty reads as follows:

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