The Community Bank of Nevada offers attractive short term CDs, ranking among the top CD rates quoted for their terms. Both CDs only require a small minimum deposit of $1000. The yields are competitive considering the short maturation periods of the CDs.

3.03% APY is offered for the 180-Day CD, while the 12-month CD reaps 3.29% APY by the end of its maturation period. Take note that the bank offered significantly lower CD rates for their longer term CDs (2.78% APY for both the 24-month and 36-month CDs) compared to the yields of these short term CDs just to make point. You can see the full details of their CD rates in this table .

This is an obvious sign that the bank wants to attract more depositors and is exerting the extra effort to reel in new clients. After all, how can you go wrong with CD terms this short? As long as you pay attention to the maturation periods of your CDs, you can take advantage of the perks of these high yielding short term CDs.

Make sure, though, that you write and sign a notice of closure by the time your CD term ends. Any clumsiness and you might suffer lower APYs in the second term, penalty fees for premature withdrawals, or both. Like other banks, the Community Bank of Nevada automatically refreshes its CD terms unless there’s a closure notice.

If the Community Bank of Nevada is trying to exert extra effort to attract clients, it only makes perfect sense. As of August 2008, it scored rather weekly in the bank soundness ratings. It reaped a mere 3 stars (performing) at Bankrate.com and 2 stars (problematic) at BauerFinancial.

Opening these two short term CDs should be considerably risk-free for the depositor. They just need to stay within the insurance limits of FDIC.

The Community Bank of Nevada has been insured with the FDIC since 1995 under FDIC Certificate #34043.