BankEast has an ad running in the Knoxville News Sentinel displaying several bank CD accounts.  The first part of the bank promotion is called “pick 2”.  This bank service allows the customer to pick two different CD accounts after opening a personal checking account.  The options are to pick a 5 month CD that has an interest rate of 2.50% APY and an 18 month CD that has a 3.50% APY or choose the 10 month CD with an interest rate of 2.75% and the two year CD that has yield of 3.75% APY.  A minimum deposit of $5,000.00 is required for these accounts.  The amount of the CD deposit must be equally divided into each of the two CD products. 

The personal checking account required for these accounts must be opened with a minimum balance of $100.00.  There is a required minimum balance of $500.00 to avoid an $8.00 service charge.

BankEast is also offering a 15 month bump up CD that has a current interest rate of 2.53% APY.  This CD allows the accountholder to increase the interest rate one time during the term of the CD.  The increased rate will be based on the current BankEast interest rate for the product chosen at the time of the request for the rate increase. 

To continue the depth of the CD offers, BankEast is promoting what it calls a Win-Win CD.  This certificate of deposit allows the CD accountholder the ability to increase the interest rate once during the CD term similar to the bump up CD and also allows the accountholder the ability to make one additional deposit during the term.  A minimum deposit of $5,000.00 is required for both of these accounts. 

Besides these CD product offerings, BankEast offers has a selection of products and services not presented in the recent advertisement, including: A youth savings account that is an excellent account available to those under the age of 18.  The account has a minimum opening deposit is only $25 and deposits can be made in any amount.  A personal savings account that can be opened with only $100 and begin earning interest immediately.  The bank offers an Investor Reserve account that provides an investment alternative which pays a higher interest rate than normally offered by interest bearing checking accounts.  The interest rate is tiered, so the higher the balance, the greater the return.  There is also a Platinum Reserve account is similar to Investor Reserve in that it offers interest rates that are tiered by balance level.  The Platinum Reserve rate tiers were developed for individuals with significant excess cash who are looking for an investment alternative with maximum liquidity.

BankEast is an independent, locally owned community bank headquartered in Knoxville, Tennessee and has 11 bank branches in Tennessee.  The bank website is www.bankeast.com.  A bank representative can be reached at 865-540-5800.  Rates not guaranteed and are subject to change.  Additional conditions to the mentioned bank products may apply.

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