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Ascencia Bank CD rates

Category: Uncategorized- fhuff- 9:53 am/ May 30, 2011

Ascencia Bank has a 1-year certificate of deposit with a 1.22 percent annual percentage yield (APY). The CD rate is current as of May 30, 2011. The bank offers other CD rates and terms, including:

  • 1.04 percent APY for 6 months
  • 1.49 percent APY for 2 years
  • 1.45 percent APY for 2.5 years
  • 1.5 percent APY for 3 years
  • 2.38 percent for 5 years

The Louisville-based bank requires a minimum deposit of $500 to open a certificate of deposit. The maximum that can be deposited in a certificate of deposit is $97,000. Other details of the CD offer include:

  • 24-hour online access to CD accounts
  • Interest is compounded monthly
  • Bank can limit the number of CDs an individual can open
  • Interest rate is guaranteed for 20 days from the date of application
  • No withdrawals for first 90 days account is open
  • Insured by the Federal Deposit Insurance Corp. (FDIC)

Withdrawing funds early results in penalties. The penalty for early withdrawal from CDs with a term of 12 months or less is 91 days interest on the amount withdrawn. The penalty for terms greater than 12 months is 182 days interest on the amount withdrawn.

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