Geauga Savings Bank has new short term CD rate promotion for savers and investors in Northeast Ohio.  The bank offers a certificate of deposit with a 7 month term with two different high yield options for account holders.  Customers of Geauga Savings that have or open an Advantage Checking account in conjunction with the bank CD, will earn a 1.40% rate of return.  Those customers that choose not to have the checking account can earn a 1.20% yield.

There is a $25,000.00 minimum deposit needed to open the CD and earn the advertised yields with a $245,000.00 maximum deposit amount.  Interest earned is credited at the maturity of the account.  A penalty may be imposed for withdrawals before maturity.

The current CD rate promotion provides one of the best short term CD rates in Ohio, the account also offers an interest rate that dwarfs the national average rate on comparable term accounts.  The 7 month term CD rate is almost ten times the national average rate for bank CDs with a six month term and six times the national average rate found on one year CDs.

The Advantage Checking account promoted by the bank requires a $50.00 minimum deposit to open.  The account has an account maintenance fee of $10.00 but the fee is waived if there is a $2,000.00 minimum balance held in the account.

Geauga Savings Bank offers a wide range of other interest bearing CD accounts.  Standard bank CDs require a low, $1,000.00 minimum deposit to open.  Terms range from 3 months to 5 years.  IRA CDs including Roth IRA CDs, SEP IRA CDs, and Simple IRA CDs with fixed rates and terms are also available.

Geauga Savings Bank serves customers in Northeast Ohio, primarily in Geauga, Cuyahoga, and Lake Counties.  Based in Newbury, OH Geauga Savings is a locally owned and operated full service community bank offering a full range of personal and business services.

To learn more about the banks CD rate promotion or other products and services offered by the bank, visit the bank online at www.GeaugaSavings.com or call a customer service representative at (800) 472-6250.

CD rates current as of October 30, 2016.  Rates and APYs are subject to change prior to opening an account.  Additional terms and conditions may apply

More information on rates in the region can be found at the Ohio CD rates section of SelectCDrates.com.

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