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3.95% 12-Month CD at Ascencia Bank - Nationally Available


Ascencia Bank has recently increased the yields on the 6 and 12-month CDs. The 12-month CD now has a competitive yield of 3.95% APY. The 6-month CD has a yield of 3.66% APY. The minimum deposit is $500, and the maximum deposit is $100,000. Ascencia is an internet bank that's available to anyone in the US.

My last report on Ascencia was in March after they had raised their long-term CDs to 3.97% APY. This rate continues, and it's still competitive, especially for the 30-month term.

Once nice CD feature is that Ascencia guarantees the APY for 20 days from the date of application. So if you mail in the application, you shouldn't have to worry about the rate dropping while it's in the mail.

Ascencia has a decent FAQ on their CDs. It states that rates are reviewed every Tuesday morning although they are subject to change at any time. So the current rates are likely to last at least through next Monday. The early withdrawal penalty for the certificates of deposit with terms of 12 months and under is 3 months of interest of the amount withdrawn. Longer term CDs have a penalty of 6 months of interest (earned or unearned).

From past posts, readers have mentioned that Ascencia does not do a hard credit pull when you open an account. And on another note, Ascencia has business accounts for its CDs, money market and checking accounts. Unfortunately, their money market account yields haven't been competitive for awhile.

For more information on the process to close Ascencia CDs, please refer to my March post.

Ascencia is an internet bank headquartered in Louisville, KY. It's a division of PBI Bank which is FDIC insured (FDIC Certificate # 9314). It has a 4 out of 5 star rating (excellent) at BauerFinancial based on 12/31/07 data.

Other Top Nationally Available CD Rates

Higher one year CD yields are available at IndyMac (4.15% APY), GMAC (4.10% APY) and Countrywide (4.10% APY). But if you're looking for a bank that's in better financial shape, Ascencia Bank is an option. There also continues to be good 1-year CD deals at Alliant Credit Union (4.15% APY) and Patelco Credit Union (4.07% APY). For the full list of CD rates in addition to links to the websites and my reviews, please refer to my last weekly rate recap.

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