1.60% APY Certificate of Deposit Rates for 12-month Special CD Offered by Cascade Bank for Washington Locals
If you’re looking for competitive CD rates and you happen to live in Washington, you might want to check out Cascade Bank’s special CD promo. This special CD promo yields as much as 1.60% APY for a period of 12 months. The minimum deposit is a bit hefty, though, at $10,000. Most of the best CD rates online today can give you the same yield over a similar period for only $1000 minimum deposit.
These might change any time, though, so check the bank’s rate table just to be sure. You can also get the CDs as IRAs. You may be charged an IRA fee of $10.00 annually, though, or $25.00 should you decide to take the funds out and terminate the account. The special is more beneficial if you’re looking for the highest CD rates.
The downside is that you can’t open your account online. You have to make a personal visit to the bank before you can apply for this special CD. Several Washington cities have Cascade Bank branches including Marysville, Everett, Burlington, Shoreline, Isaquah, and Bellevue.
Despite being one of the most competitive Certificate of Deposit rates, some people might be put off by the bank’s soundness ratings. They scored poorly in BauerFinancial (2 stars/problematic) and Bankrate.com (1 star/lowest). Their health score ate DepositAccounts.com are also less than impressive, garnering only 2 out of 5 points.
This is strange, considering that the bank has been a member of the FDIC since 1957 under FDIC Certificate # 28823.
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