CenterBank, headquartered in Milford Ohio, has some very attractive interest rates on their 9 month CDs and 20 month CDs.  The 9month CD has a 3.60% APY and the 20 month term yields a 4.10% APY.  Both CDs require a minimum balance of $500.00 and do not require the accountholder to have any additional accounts with the bank. These rates were good as of December 4, 2008.  The bank is running a marketing campaign in the Cincinnati Enquirer which displays these CD rates.

CenterBank was founded in 2000. The bank has two locations, one in Milford and the other in Cincinnati.  CenterBank offers a complete range of bank products and services for consumers, businesses, non-profit organizations, and government agencies.  Along with the traditional CD accounts, the bank offers free checking to both consumers and businesses with online banking and bill paying services.  The bank also offers a full range of loans to individuals including a variety of mortgage programs.  CenterBank is a key lender to small businesses and is one of the leading SBA lenders in the state of Ohio.

In the filed of consumers savings, CenterBank has a full band of options.  CenterBank savings accounts are chock-full range of features including: easy access with a CenterBank ATM card, the ability to link any savings plan or CD to a checking account to receive a combined monthly statement, the ability to link the savings and CD’s together on selected accounts to avoid monthly service charges, and the ability to have automatic transfers from a checking account each month to help increase savings rates of return. Interest on all CenterBank savings accounts and CD’s is compounded daily and credited to your account monthly to help your savings grow even faster.

CenterBank has a regular savings account that offers competitive interest rates and allows the savings accountholder to make unlimited deposits and withdrawals at a CenterBank teller window. An initial deposit of $25 is required to open the account.  Automatic transfers from a checking account can be established to maximize savings growth.

The bank offers a money market investment account which receives a top interest rate on a tiered rate savings plan without sacrificing safety, liquidity, convenience or service. The more the accountholder saves the higher the interest rate.  The rate on the money market investment savings rates is set each week based on a review of published money fund averages.  This premium money market account provides limited check writing ability and no limit on deposits or withdrawals by ATM, in person at the bank, or by mail.
 
CenterBank CD’s are available in a wide variety of maturities and deposit sizes, beginning with as little as $500.  With flexible terms, the CD investor can choose a maturity date from 30 days to 5 years and enjoy rates of return that are generally higher than those available for most savings accounts.  The bank provides the flexibility of receiving interest checks monthly, quarterly, semi-annually or annually or choosing to keep the interest in the CD account to earn interest along with the principal.

Rates are subject to change.  The bank can be contacted at 513-965-8505, for the Milford location or 513-947-8505 for the Cincinnati location.  The web address for the bank is www.centerbank4me.com.

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