The First Community National Bank headquartered in Pennsylvania offers the best cd rates for their long term CD deals. The most competitive interest rates are the following:

3.25% APY 4 years
3.50% APY 5 years
4.00% APY 7 years

These top cd rates can be enjoyed by opening a cd account with an initial deposit of $1,000. This money in the bank deal is also available as IRA CDs. The bank used to push for competitive short-term certificates but the cd rates for these have gone down below 2.00%.

We browse through the certificate of deposit disclosures and you need to take note that the early withdrawal penalty for CD with maturities of 2 years or more is 6 months of earnings. Looking at the market today, most 7-year CDs are charged 12 months of interest when the account holder makes an early take out. The bank however clearly states on their disclosure that they have the right to refuse withdrawal prior to maturity of the CD.

Interested individuals may apply for the CD online. You can fund the certificate either by sending in a check or transferring money from your existing FCNB accounts. The CSR of the bank told us that you need to open a checking account with them to do this kind of funding. One down side of this is that you may miss the attractive rates if you need to apply for a checking account first.

Beneficiaries of the CD account can also be nominated after opening the account. You can only request this for the fixed rate regular CDs.

First Community National Bank is headquartered in Dunmore, PA. They also operate several branches in Lackawana, Luzerne, Monroe, and Wayne.

FCNB has some fair ratings. Both Bankrate.com and BauerFinancial issued 3 stars after reviewing its soundness and safety. The bank is covered by the FDIC through their certificate number 7472.