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National Bank of Kansas City

National Bank of Kansas City Raises CD Yields Back to 5.50% on All Terms


National Bank of Kansas City has raised their CD rates back to 5.50% APY for all terms from 3 to 60 months. The minimum deposit is $10,000. IRA certificates of deposit are also available for terms from 6 to 60 months with the same 5.50% APY.

In June, I first reported on these 5.50% CDs. The 5.50% didn't last long. Before the end of June, the rates had fallen to 5.30% APY. In July the rates fell again to 5.25% APY. I didn't think we would see a return of these high rates, so I removed the bank from my weekly summary last week. It looks like I acted prematurely.

I was told in June by the bank that they accept out-of-state deposits and that the CDs can be opened online. For more info on this bank and these CDs, please see my June post.

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 3/31/07 financial data.

Thanks to the reader Dan The Man who mentioned these new CD rates in the finding deals post.

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Anonymous   |     |   Comment #1
I just got off the phone with a service rep. CD must be funded during time of offer. Since I need lead time for transferring money to them, offer could be recinded even though application is on file.

They require of copy of your drivers license. Interest is compounded daily, posted quarterly. No checking account is needed at bank of open CD. POD is available, and info taken when representative calls you back. Wire transfer fee is waived of $10 if amount invested is over $75K.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
Thanks for the info!