Nexity Bank CD Rates

Nexity Bank certificates of deposit are frequently among the highest rate CDs in the nation.  Nexity CDs offer an exceptional rate return relative to the national averages for bank CDs.  Nexity, like many other predominantly internet based banks, uses the Internet to provide certain advantages to customers who want to purchase financial products that will typically have more attractive rates than traditional banking channels.

Nexity Bank is a wholly owned subsidiary bank of Nexity Financial Corporation.  Nexity Financial Corporation was incorporated in Delaware in 1999 and is headquartered in Birmingham, Alabama. Nexity Financial Corporation is a commercial bank with assets of over $957 million.  The bank serves over 21,000 customers in all 50 states in the United States and 20 different countries.  The bank offers deposit products across the U.S encompassing a wide array of consumer bank products and services including; money markets, checking accounts and online access.  Nexity generates the majority of its income through wholesale correspondent banking activities.

At the present time, Nexity offers the following CD rates and terms:

A 90 day CD with an interest rate of 2.31% APY.
A 6 month CD that has an interest rate of 2.86% APY.
A 9 month CD that yields an interest rate of 2.80% APY.
A 12 month CD which earns an interest rate of 2.96% APY.
And finally, a two year CD that has an interest rate of 2.85% APY.

There is a minimum deposit in the amount of $1,000.00 required to open these CD accounts and earn the posted interest rate.  Interest is compounded daily.  The interest earned on certificates with a term of 12 months or less is paid at maturity; greater than 12 months paid annually.  Nexity Bank CDs automatically renew at maturity.

Nexity also offers a competitive money market account.  The money market account offers transactional convenience with attractive rates.  The money market advantage account is an excellent investment vehicle that offers a high rate of return on your money with the liquidity and convenience of a checking account.

The interest rate on the money market account is 1.00% APY for balances between $0 -$49,999.00.  Balances in excess of $50,000.00+ earns an interest rate of 2.50% APY.   The minimum to open this money market account is $50,000.00.

Nexity Bank also offers an online savings account.  An initial deposit of only $50.00 can open this bank savings account.  There is no average monthly balance required and interest is earned with no monthly service charge.  The interest rate earned on the savings account is 1.25% APY.

Questions regarding the various interest rates on the CDs, money market accounts and savings accounts can be handles by calling a bank representative at 1-877-738-6391.  More rate information and disclosures can be found at the bank web site, www.nexitybank.com.  Deposits can be accepted at the banks Birmingham office only.  A CD account application and other bank account applications are available online as well.

Tags: Banks, best CD rates, CD rates, money markets, Nexity Bank, rates, savings

This entry was posted on Monday, January 19th, 2009 at 3:37 pm 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.