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CD Early Withdrawal Penalty: Should You Pay It?3.50% 12-Month / 3.30% 6-Month CD at a Nevada Bank (Community Bank of Nevada)
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ON BY Ken Tumin
Update 5/17/08: The CD rates have fallen. The new 12-mo yield is 3.50% APY and the new 6-mo yield is 3.30% APY. The title has been modified to reflect this change.
Community Bank of Nevada has some competitive rates on its short term CDs. These include a 3.70% APY 12-month CD, a 3.65% APY 9-month CD, a 3.55% APY 6-month CD and a 3.45% APY 3-month CD. The minimum deposit is $1,000.
The bank also has a decent deal on a reward checking account that I first reported on last October. The current yield is only 3.30% APY, but the yield can apply to balances up to $100K.
It appears the bank requires a branch visit to open accounts. Branches are located in Las Vegas, Henderson, and Pahrump, Nevada. The bank has been FDIC insured since 1995 (FDIC Certificate # 34043)
Other High CD Rates
CD rates under 4% may seem low, but in today's rate environment, 4% is difficult to find for short term CDs. There are a few national deals with 12-month rates just above 4%. For shorter terms, most are below 4%. One exception is a special 5-month CD at a Xceed Financial Credit Union that has a 5% APY ($25K max deposit). For the latest nationwide CD deals, please refer to my latest CD rate summary.
Community Bank of Nevada has some competitive rates on its short term CDs. These include a 3.70% APY 12-month CD, a 3.65% APY 9-month CD, a 3.55% APY 6-month CD and a 3.45% APY 3-month CD. The minimum deposit is $1,000.
The bank also has a decent deal on a reward checking account that I first reported on last October. The current yield is only 3.30% APY, but the yield can apply to balances up to $100K.
It appears the bank requires a branch visit to open accounts. Branches are located in Las Vegas, Henderson, and Pahrump, Nevada. The bank has been FDIC insured since 1995 (FDIC Certificate # 34043)
Other High CD Rates
CD rates under 4% may seem low, but in today's rate environment, 4% is difficult to find for short term CDs. There are a few national deals with 12-month rates just above 4%. For shorter terms, most are below 4%. One exception is a special 5-month CD at a Xceed Financial Credit Union that has a 5% APY ($25K max deposit). For the latest nationwide CD deals, please refer to my latest CD rate summary.
