CD Rates at BankIowa

BankIowa opened in 1921 as Farmers State Savings Bank in Iowa.  In June of 1998, Farmers State Savings Bank changed its name to BankIowa.  The bank presently has ten branches in seven Iowa communities.  The branches are located in Cedar Falls, Cedar Rapids, Independence, Jesup, Lamont, Norway and Waterloo Iowa. 

BankIowa is an independent and locally owned financial institution.  The bank has been FDIC insured since December 11, 1953.  The bank is chartered as a Federal Reserve Non-member bank and the primary regulator is the Federal Deposit Insurance Corporation (FDIC).  The bank has total assets of approximately $410,000,000.  Net income for through Sept. 2008 was $3,057,000.  During this period of bank failures and poor lending decisions by banks, BankIowa had only 0.26% of its total loans and leases classified as non current at the end of Sept. 2008.
 
The bank presents an assortment of savings options.  Standard personal savings that allows the account holder earns interest with low minimum balance requirements.  A money market account that earns interest on tiered balances.  Certificates of deposit that can enhance an investment portfolio with competitive rates and multiple terms. 

BankIowa CDs provide flexible terms that can be used to match short or long term financial goals.  The certificates of deposit earns a guaranteed, fixed rate of interest,
allows the account holder to choose from terms ranging from 3 to 59 months, has
flexible interest payment methods with compounding within the acoount, an interest check or direct deposit and the security of FDIC insurance coverage.

With a minimum balance of $500.00 BankIowa is currently providing the following CD products:

A three to five month CD rate is 0.97% APY.
A six to eleven month CD earns an interest rate of 1.25% APY.
A twelve to twenty-three month CD has a rate of 1.61% APY.
A twenty-four to thirty-five month CD yields a rate of 1.82% APY.
A thirty-six to forty-seven CD rate is 1.82% APY.
A forty-eight to fifty-nine month CD earns a rate of 2.07% APY.
A sixty plus month CD has an interest rate of 2.42% APY.
 
BankIowa is also running some current CD specials.  A special twelve month CD rate is 2.90% APY.  A special twenty-four month CD rate is 3.25% APY. And a special forty-eight month CD rate is 3.75% APY. 

The bank also offers a specilal certificate of deposit called a One-Way UP Certificate of Deposit.  This certificate gives you the added advantage of a flexible rate.  Certificate owners have a one time option of increasing the rate of interest.  At the time of rate change, owners have the option to add $500 or more to the certificate.  Adding money will not extend the maturity date.  The new CD rate will be the effective rate until the initial term expires.  The 36 Month One Way Up CD interest rate is now at 3.50% APY.
 
Bank interest rates are subject to change.  Additional bank account conditions may apply. For current CD rates and account information contact the bank directly at 1-800-433-0285.  CD rates, savings rates, other bank rates and account information can be found at the bank website, www.bankiowa.com.

Tags: 12 month CD rates, 24 month CD rates, 48 month CD rates, BankIowa, Banks, CD rates, CD rates Iowa, Iowa bank, money market account, savings

This entry was posted on Saturday, February 14th, 2009 at 11:16 am and is filed under Bank Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.