Corridor State Bank

Corridor State Bank has a 1-year certificate of deposit (CD) with an annual percentage yield (APY) of 1.55%. The bank has CDs for other terms that include:

• 1% APY for 6 months
• 1.25% APY for 9 months
• 1.9% for 18 months
• 2.1% for 24 months
• 2.3% for 36 months
• 2.6% for 48 months
• 2.9% for 60 months.

The bank also has a special CD rate of 2.05% for 19 months. The CD rates are fixed but can increase depending on the maturity of the CD. Other features of the CDs include:

• Minimum deposit
• Automatic renewal
• Tiered interest rates for larger deposits

There is no penalty for early withdrawal in the event of death or medical emergency. In other situations the amount of the early withdrawal penalty depends upon the term of the CD. The penalty for withdrawing CDs up to 6 months is 182 days interest on the amount withdrawn subject to penalty. CDs with terms of 7 to 12 months may be charged six months of interest as a penalty.  Accounts with terms of 13 to 35 months may have a penalty equal to 12 months interest.

Corridor State Bank is based in Coralville, Iowa. You can open an account in person or mail in the application at the bank’s website.

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