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5.50% CDs from 3 to 60 Months at National Bank of Kansas City (National Availability)


National Bank of Kansas City is offering 5.50% APY on all CD terms from 3 months to 60 months. The minimum deposit for the terms under 1 year is $1,000 and the minimum for the longer terms is $10,000. IRA's with the same rates and terms from 6 to 60 months are also available.

I called their toll-free number at 1-888-905-2165 and was pleasantly surprised to be immediately connected with a knowledgeable customer service rep. I was told that accounts can be opened by people from any state (Note, this often can change). A link to the online application is available at the CD summary page. After you submit the application, a bank rep will be in touch with you within the next day regarding the application. They do accept wire transfers to fund the CD and for making withdrawals, but there is a fee: $10 for incoming and $20 for outgoing. Deposits can also be made by mail and in person. The early withdrawal penalty for these CDs is 3 months of interest for terms under 12 months and 6 months of interest for terms 12 months and longer.

Bank branches are located in Excelsior Springs and Platte City, Missouri and in Leawood, Kansas. The bank has been FDIC insured since 1999 (FDIC Certificate # 35014). It has a 4 out of 5 safe & sound star rating (sound) at Bankrate.com based on 12/31/06 data.

Thanks to the reader who mentioned this bank and CD rates in the finding deals post.

Related Pages: CD rates, IRA rates

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Anonymous   |     |   Comment #1
Does anyone know if they do a hard pull for CDs??

Did the CSR say why they get in touch with you about the application the next day??
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
No, the CSR didn't say why they call after the application is submitted. It does seems like a waste of time.

Note, these 5.50% didn't last long, but they're back as of 8/18/07 (see post).