In order to intensify the spotlight on Hawaii, after the soon to be President has thrust the state into the spotlight, reviewing bank CDs in the state seems timely.  One such bank is HomeStreet Bank.  HomeStreet Bank is headquartered in Seattle but has branches in Hawaii and offers some of the highest CD rates in that state.  Currently, HomeStreet Bank has the one of the best CD rates with an 11 month CD that has an interest rate of 2.50% APY.

In addition to this special CD, the bank has a variety of other CD options available.  Customers can choose from a assortment of terms for a certificate of deposit from 1 month to 5 years to suit their needs including a 5 month CD that has an interest rate of 2.75% APY.  The bank CDs can be opened with a minimum balance as low as $500.  Interest on all bank CDs is compounded monthly.

The bank also offers a CD savings product called the Home Purchase CD.  This is a two year term CD established as an easy way to save for the down payment and closing costs for the purchase of a home.  After a customer opens this CD account and is subsequently ready to buy a home, they can present their Purchase and Sale Agreement (earnest money agreement) to the bank and withdraw the balance from the CD without penalty.  These customers may also be eligible for special loan fee reductions if they have HomeStreet Bank handle the financing for the new home as well.  The current interest rate on the Home Purchase CD is 2.00% APY.

HomeStreet Bank is a family and employee owned bank established in 1921.  HomeStreet Bank is one of the largest private banks in the Northwest and Hawaii. The bank has approximately $2.8 billion in assets and operates 21 branches in Washington, Oregon and Hawaii, and 10 lending offices.  HomeStreet Bank has three bank branch locations in Hawaii.  The bank offers a wide range of bank services including business banking, business lending, consumer banking, mortgage lending, residential construction financing, income property financing and insurance services.

CD rates subject to change for current rate information call a local bank representative at 800-719-8080.  The bank web address is www.homestreet.com.

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