Stonebridge Bank in Pennsylvania Makes 3.95% APY CD Available Nationwide
The rates of the CD being offered by the Stonebridge Bank as a 14- and 9-month special dropped to 3.95% APY. The certificate requires at least a $500 deposit. They are also available as an IRA.
The rates were previously reported as 4.25% APY and 4% APY for the 14- and 9-month Certificate of Deposit, respectively.
Interested consumers can fill up an online application form. Bank representatives disclosed that the offer is valid for consumers from any state. The CDs can be funded by check or wire transfer.
It will be best to call the bank for the going on rates since the bank will only lock the rates for the consumer upon receiving the funds.
The interest of the certificates is compounded on a daily basis and is credited monthly to the account of the holder. Penalties also apply for early withdrawal: 90 days of interest (under 12 months) and 180 days (12 to 36 month terms). The bank also grants a 10-day grace period upon maturity of the certificate.
The bank has branches in Exton, West Chester, Blue Bell, and Warminster in Pennsylvania.
The bank was given a 4-star rating by BauerFinancial and a 2 star rating by bankrate.com. The bank is FDIC insured with certificate # 35077.
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