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12 Month CD 5.25%

gbp84
  |     |   93 posts since 2024

This bank typically posts CD rates around the first of the month, so the rate will probably be lower about 10/1/2024

https://www.northwest-bank.com/cd-rates

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RZ
  |     |   394 posts since 2017
Fortunately I live near one of their branches so dropped in and deposited a brokerage check for the CD with no hassle at all.
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7
chipcollector
  |     |   111 posts since 2010
will they accept out of state deposits?
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RZ
  |     |   394 posts since 2017
I don’t see why not but rate will likely go down on 10/1
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eneldar
  |     |   39 posts since 2022
Thanks so much gbp84 for posting this deal. Because of you, I was able to take advantage of this great rate.  This offer doesn't appear on DA's Best CD list.  My fellow DA readers have often provided helpful information, but with Ken Tumin's departure, they are vital!  New rates were posted October 1 and the 12 month CD is still paying 5.25% APY.  To answer chipcollector, yes, they do take out of state deposits.  You cannot open the CD online, but call and they will guide you through the process.  They use encrypted emails or docusign to open the CD.  There is an incoming wire fee of $15.00.  They have a 5 star rating on Bauer.  I would highly recommend them based on my experience.
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denki
  |     |   159 posts since 2019
I don't think I'll do it since I don't have much available now, but for others, here's more info, per phone conversation:
Penalty on the 12 month is 180 days interest.
Partial Early Withdrawals are allowed.
Interest accrues daily, credited quarterly
Wire in: $15, Wire out: $20
They will do out of area, by doing DocuSign and submitting ID etc as part of that process, including a signature.
No credit check done for CD.
I didn't ask if taking out early will you be credited interest to date or lose it between quarters? Forgot to ask.
At maturity: cashiers check or wire out ($20)
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chipcollector
  |     |   111 posts since 2010
thanks very much
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gbp84
  |     |   93 posts since 2024
The 12 month 5.25% CD is still listed as available today.

https://www.northwest-bank.com/cd-rates

Northwest Bank has 6 locations: Seattle WA, Boise ID, near Portland OR (Lake Oswego OR), near Salt Lake City UT (Cottonwood Heights, UT), near Spokane WA (Coeur d’Alene OR), and another location near Boise ID (Nampa ID).

https://www.northwest-bank.com/about/locations
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eneldar
  |     |   39 posts since 2022
I received an email today from a VP of the bank, thanking me for opening a CD with them. He also said "As a local bank with limited advertising we also appreciate referrals, if you have any friends or family looking for good rates on CD’s please let them know about us."  Fellow DA readers, if you open a CD with them, let them know you read about it here!
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jbridge
  |     |   42 posts since 2024
More info on the Northwest Bank 12-month CD is available at Deposit Quest Substack.

https://depositquest.substack.com/p/deposit-diary-daily-132
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happyharold4
  |     |   400 posts since 2022
@eneldar---Perhaps post up what his name is and which branch and how to contact---Probably make the experience much easier. Oops just saw the minimum is 100K
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racecar
  |     |   633 posts since 2014
happyharold,
the cd only has a $100 minimum, not $100k. There are normal ($100) and Jumbo ($100k) but they both pay the same rate.
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happyharold4
  |     |   400 posts since 2022
@racecar---Thanks for info---I don't see any HYS only MM and Bus Checking---In the above posts I don't see any reference to ACH external links---I guess I'll try calling them myself
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happyharold4
  |     |   400 posts since 2022
@gbp84---It took a lot of back and forth emails/docusigns but finally have a funded CD account and online access to the account----$5 Primis wire out and $15 Northwest received fee---Plus there will be another wire fee of $20 when it matures---Thanks for posting this up
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nutkin
  |     |   60 posts since 2019
Was able to open CD without too much trouble; great customer service from the Boise branch.
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