FNBO Direct is an online bank that is known for its good CD rates, simplicity and customer service. A division of First National Bank of Omaha, the bank has been in business for 150 years and is credible and well worth a look.
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The current CD rates at FNBO are (APY is quoted):
- 6-month CD – 1%
- 9-month CD – 1.25%
- 12-month CD – 1.50%
- 18-month CD – 1.75%
- 24-month CD – 2.00%
- 36-month CD – 2.51%
- 48-month CD – 2.75%
- 60-month CD – 3.01%
Here are more details on the certificate of deposits:
- Available to Online Savings Account customers (You can apply through here)
- Minimum balance on CD is $500
- Interests begins accumulating on the first day money is collected
- Interests compounded daily and shows up on the account quarterly.
- If you withdraw early, the interest already earned is yours but there are penalties.
- You forfeit the interest if the CD term is 3 months or less, 3 month interest penalty for CDs between 3-month to 1 year and 6 month interest penalty if you withdraw early on a CD with more than 1 year term.
- CDs will renew automatically unless you let them know before it matures that you don’t want it renewed. There’s also a ten day grace period after the maturity date where interest will accumulate without withdrawal penalites.
Since the online savings account is at 1.65% right now, it really doesn’t make sense to open a very short thm CD. However, the longer term CDs are quite interesting and migt interest you. In any case, it’s always nice to have this online savings account anyway since the features and yield are both quite good.
Click Here to Sign Up For An Account
- FNBO Direct – Official Site
- FNBO Direct Online Savings Account Review