Stonebridge Bank offers 1.95% APY 14-month Certificate of Deposit for a minimum opening of $500

October 26th, 2009 Admin Leave a comment Go to comments

Stonebridge Bank is currently running a certificate of deposit special on a 14-month term with a 1.95% APY earnings. This may seem a bit low but is very competitive with its opening balance requirement of just $500.

Other current cd rates are as follows:

18 months 1.80% APY
24 months 2.00% APY
30 months 2.15% APY
36 months 2.40% APY
60 months 2.65% APY

These interest rates are also in effect for the IRAs. Earnings are computed on a daily basis and credited every month. They are posted on the CD Page of the bank but they can be changed any time.

Interested consumers can apply for these money in the bank deals online. Customers from any state can open an account. You can fund the account by sending in a check or by wire transfer. For now, they don’t have any ACH provisions. The interest rate will be locked once the bank receives the initial funding for your CD.

Any early withdrawals from CDs with less than 12-months of maturity will cost about 3 months worth of interest. Any certificate with a longer term incurs a penalty of 6 months of interest. The bank gives you 10 days of grace period when your certificate matures so you have enough time to instruct the bank if you want to renew or credit the proceeds to your other accounts. They will need a written instruction when you close the CD.

The bank is adequately performing with Bankrate.com and BauerFinancial both issuing 3 stars for soundness and safety.

Stonebridge Bank is headquartered in Pennsylvania with offices in West Chester, Exton, Warminster, and Blue Bell.

The bank is insured with the FDIC since 1999 through certificate number 35077.

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