Cornerstone Bank, based in Nebraska, is offering a new CD rate promotion with a twist.  The new certificate of deposit comes in two maturities and allows the account holder the option to increase the interest rate on the certificate once during the account term.  Customers of the Nebraska bank get a competitive interest rate when they open the account and the flexibility to bump it up later if rates begin to rise.

New and existing Cornerstone customers can choose either a 17 month term account or a 25 month term account.  Both accounts have a current CD rate of 1.50%.  These are fixed rate and fixed term accounts with one exception, the account holder has the option of upgrading to a higher rate one time for the remainder of the term if the bank CD rates change.

For the 17 month term account, the account holder can select a higher rate if the 12 month or 17 month CD interest rate at the bank goes up.  For the 25 month term account, the account holder can select a higher rate if the 24 month or 25 month CD interest rate at the bank goes up.

Minimum deposit for the bank certificates is $500.00.  Interest earned is compounded quarterly.  There may be a substantial penalty for early withdrawal.  The Annual Percentage Yields listed assumes interest will remain on deposit until maturity.  A withdrawal of interest will reduce earnings.

While the bank refers to these accounts as Jump-Up CDs, they are also commonly identified as bump-up CD accounts.  The bank has a variety of other options for customer looking to set aside funds for future savings goals.  A wide range of CD terms are available from 90 days on up to four years.

Cornerstone Bank is headquartered in York, NE.  The bank is one of the top ten largest banks based in Nebraska.  Cornerstone currently has 40 banking branches in 31 communities.  Other communities include: Albion, Aurora, Bartlett, Bradshaw, Central City, Clay Center, Columbus, Davenport, Edgar, Geneva, Glenvil, Grand Island, Guide Rock, Hampton, Harvard, Henderson, Hildreth, Marquette, McCool Junction, Monroe, North Loup, Polk, Rising City, Shelton, St. Edward, Stromsburg, Sutton, Waco, Wilcox and York. Cornerstone Bank is owned by First York Ban Corp. of York.

CD rates advertised are current as of March 27, 2017 and are subject to change at the bank’s discretion.  Additional terms and conditions may apply.  More information about the bank CD rates in Nebraska and account terms can be obtained by calling a Cornerstone Bank customer service representative at (800) 642-6608.

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