West End Bank (IN) Debuts 22-Month CD Special With Add-On Option

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Deal Summary: 22-month CD Special, 2.20% APY, $1k minimum/$250k maximum deposit, additional deposits allowed up to the maximum.

Availability: Market area includes Wayne and Union Counties, Indiana.

West End Bank started the week by adding a 22-month CD Special (2.20% APY). The minimum deposit is $1k, with a balance cap of $250k.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.20%$1k$250kWest End Bank, S.B.22 Month CD Special
2.20%$50$250kWest End Bank, S.B.22 Month IRA Special (Traditional, Roth)
Accounts mentioned in this post. Rates as of October 22, 2017.

In addition to the great rate, the 22-month CD Special also has a generous add-on option.

Additional deposits can be made at any time during the term of the CD up to the maximum.

The CD Special is offered as an IRA (Traditional and Roth) earning the same APY, but with only a $50 minimum opening deposit. The IRA Special also offers the add-on feature.

CSR stated in a Live Chat that the Early Withdrawal Penalty is a $25 flat fee and 12 months interest.

Availability

Headquartered in Richmond, Indiana, West End Bank’s market area includes Wayne and Union Counties in east central Indiana.

Opening a CD Special (or any other account) must be done at any of four Indiana branches located in Hagerstown, Liberty, and Richmond (2).

West End Bank’s online banking platform are currently devoted to account management and bill payment services.

Bank Overview

West End Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 10.31% (excellent), based on June 30, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $5.98 million, an excellent annual growth rate of 2.72% . Please refer to our financial overview of West End Bank (FDIC Certificate # 28807) for more details.

West End Bank is a community bank that has been serving the residents of east central Indiana since 1894. Originally known as the West End Building & Loan Association, the Bank had three name changes between 1986 and 2005, with “West End” always part of the name. West End Bank is currently Indiana’s 52nd largest bank, with assets in excess of $294 million.

How the CD Special Compares

When compared to the 273 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available with the Bank’s market area, West End Bank’s 22-Month CD Special APY currently ranks first. The addition deposits option is just icing on the cake.

Interest RateCD Length of TermCredit Union/Bank
2.20% APY22-Month CD SpecialWest End Bank
2.02% APY25-Month CDUSALLIANCE Financial
1.91% APY24-Month Special CDVeridian Credit Union

The above rates are accurate as of 9/27/2017.

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

Related Pages: Cincinnati CD rates, Indianapolis CD rates, 5-year CD rates

Comments
Fan of this website
Fan of this website   |     |   Comment #1
Ken,
I would like to request that you have a specific listing showing all the currently available add-on CDs. It may be a short list (or none available at times), but these products have significant value, so it would be worthwhile, in my humble opinion, to be able to see these CDs in one list, rather than searching through old posts to find these options. Thanks and keep up the good work.
Ken Tumin
Ken Tumin   |     |   Comment #2
Thanks for the suggestion. That is a good idea. I'm currently reviewing this with my team to see if a list like you described could be implemented.
Sylvia
Sylvia   |     |   Comment #3
How about just flagging such deals on biweekly CD Summary to the extent that rates merit mention, then you don't need to create a separate list? To illustrate, Northwest Federal CU has 3 ongoing add-on CDs: 1 year @.60%, 2 year @ .95%, and Youth 1 year @.55%. Most here would not find those rates noteworthy, add-on or not.
2.00% 9-Month CD, 2.50% 19-Month CD & 3.00% 29-Month CD at West End Bank in Indiana - Local Only
West End Bank, S.B. has a CD special with some competitive rates: 2.00% APY for 9 months, 2.50% APY for 19 months and 3.00% APY for 29 months. Minimum deposit is $500. The 19-month and 29-month CDs are also available as traditional and Roth IRA CDs with a minimum balance of $50. These rates are listed in the bank's rate table as of 8/31/09. They're also listed in a promo page that's listed on the bank's home page.

It appears a branch visit is required to open an account. Branches are...

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3.50% 25-Month CD & 4.00% 35-Month CD at West End Bank in Indiana
West End Bank, S.B. has a CD special with some competitive rates: 3.00% APY for 15 months, 3.50% APY for 25 months and 4.00% APY for 35 months. Minimum deposit is $1,000. These are also available as traditional and Roth IRA CDs with a minimum balance of $50. These rates are listed in the bank's rate table as of 2/27/09.

It appears a branch visit is required to open an account. Branches are located in east Indiana cities of Richmond, Hagerstown and Liberty.

The bank has solid ratings for safety and soundness:...



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