Commerce Bank CD rates have fallen short when it comes to a search for the best CD rates in the nation. Commerce Bank is mostly engage with consumer deposit and loan accounts in the Midwest. Commerce Bank branches can be found in Missouri, Kansas, Illinois, Oklahoma and Colorado. However, even with relatively small foot print compare to large money center banks, Commerce Bank has grown to over 300 bank branches and is the nation’s 63rd largest bank.
While the longer term CDs of Commerce Bank offer potentially higher interest rates, the shorter term CDs offer better rates relative to the national averages. Not only are these short CD rates more competitive but they provide greater liquidity and quicker access to the account holders funds.
Commerce Bank CDs can be opened with a minimum deposit amount of $1,000.00. The interest paid on the accounts is compound daily. Account holders that open a Commerce Bank checking account or Commerce bank savings account can also have access to free online banking.
Current Commerce Bank CD rates June 2011:
Commerce Bank 3 month CD rate 0.15%
6 month CD rate is 0.20%
1 year CD rate 0.30%
2 year CD rate 0.45%
3 year CD rate 0.65%
4 year CD rate is 0.95%
5 year CD rate 1.09%
For those consumers that are searching and comparing the best CD rates in the Midwest at an FDIC insured financial institution, the short term CDs of Commerce Bank may very well fit the bill.
Commerce Bank CD rates are current as of the end of June 2011 but are subject to change at any time. The bank CDs may have an early withdrawal penalty if any or part of the principal balance is taken out of the CD account.
Commerce Bank is a regional or perhaps even super regional bank that provides a full range of financial products to consumer and commercial customers. Along with certificates of deposit, Commerce Bank and its subsidiaries offers a whole range of deposit and loan products as well as mortgage banking, credit related insurance, venture capital and real estate activities.
Commerce Bank offers an assortment of bank CDs with varying terms and CD interest rates. Certificates of deposit with Commerce Bank can be valuable investment because the principal in the CD is protected by FDIC insurance and the interest rates are guaranteed. The Federal Deposit Insurance Corporation insures each depositor currently up to at least $250,000.00.
Commerce Bank offer certificate terms range from short term CDs of 3 months to long term, five year CDs. The bank offers their highest CD rates on the long term certificates of deposit.
Along with the bank CDs, Commerce Bank promotes a variety of savings options including savings accounts, IRA CDs, money market accounts and other accounts that offer guaranteed returns, flexibility and liquidity.
These top CD rates promoted by the bank can be obtained by opening an account with an initial deposit of $1,000.00.
The current certificate of deposit rates and terms include:
3 month Commerce Bank CD rate 0.25%
6 month CD rate 0.40%
1 year CD rate 0.70%
2 year CD interest rate 1.00%
3 year bank CD rate 1.50%
4 year Commerce Bank CD rate 1.80%
5 year CD interest rate 2.15%
Commerce Bank is also currently offering a promotional 35 month term CD that earn a rate of 2.00%
The bank CD interest rates are based on the geographic region of the account holder. Upon reviewing several different zip codes the difference in rates was quite minimal most rate differences involved the 1 year term CD. The rates displayed are for the zip code 64120.
These certificate of deposit rates are listed as of June 23, 2010. CD rates are subject to change and additional conditions may apply to open these bank accounts. For current CD rates and more information regarding the bank products, a Commerce Bank representative can be reached at 800-453-2265.
Commerce Bank is a Missouri based bank. The bank has branches spread throughout Missouri, Kansas, Illinois, Oklahoma and Colorado. The bank also offers free online banking with a combination of either a checking or savings account.