FNBO Direct is currently offering a 5.25% APY Certificate of Deposit with an interest rate of 5.05%. The minimum deposit on FNBO Direct’s best cd rate is $500 with FDIC insurance of up to $100,000. This is an online only Certificate of Deposit, which means you can open it in any state as long as you are an existing customer with FNBO Direct. So if you don’t have an accoun with FNBO Direct, you will need to first open a FNBO Direct savings or checking account before you can enjoy the rates of this 9 month CD.
The interest on this 9 month CD is compounded daily and will be credited quarterly. Once you reach maturity on this Certificate of Deposit, you will have 10 days to decide weather to withdrawl the principle with compounded interest. If there is no response within 10 days it will automatically renew and will be locked in the new Certificate of Deposit rate for another 9 months.
To apply online, simple go to the FNBO Direct website and apply.
*No penalty for early withdrawl will be applied to the savings account, but it will cost you 3 month worth of interest if you withdrawl early for the 9 month CD. This penalty can actually hurt your principle if you withdrawl before the 3 months.
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