Competitive Liberty Bank CD Rates: 5 Year CD Rate at 2.50% APY
Liberty Bank, based in Connecticut is offering some competitive long term certificate of deposit rates on CD terms of 3 years, 4 years and 5 years. These special "Pick Your Terms" certificates of deposit have the following CD rates - 5 year CD rate at 2.50% APY, 4 Year CD rate at 2.25% APY and the 3 year CD rate is at 2.00% APY.
There is a minimum deposit amount on the Pick Your Terms certificate of deposit of $1,000 and the maximum amount is $250,000. Regardless of the maximum amount allowed by any bank or credit union, you should keep your CD deposit amount under the $250,000 insured amount so your deposits are covered by either the FDIC or NCUA. The $250k amount also includes interest you earn, so when you set up the CD, make sure the interest earned is included in the final CD calculation if it's near the insured amount.
There is also a maximum of 1 Pick Your Term CD account allowed per household. To open one of these CD accounts, you also need to open a checking account with Liberty Bank. You also have to use "new money" to open a CD, meaning money that isn't already on deposit with Liberty Bank. These rates and accounts are also only available to consumers and not available for municipal deposits or IRA CDs.
Since you need a checking account at Liberty Bank to get this CD deal, you're in luck because the bank is also offering a checking account promotion. If you open a new checking account you can earn $100. Of course, there are some restrictions and requirements to earn the $100. The first one is "Existing Liberty Bank consumer checking customers ineligible for $100 offer."
If you are eligible to open a checking account under this promotion you then have to either have a direct deposit of payroll, social security, pension or government benefits within 90 days of account opening. The $100 promo will be credited your new checking account up to 60 days after first direct deposit.
Liberty Bank is also offering a HELOC rate of 1.99 percent for the first 15 billing cycles and then a rate of 2.75 percent thereafter. The 2.75 percent rate is the prime rate plus 0.50 percent. The last deal to mention is you can earn $25 for referring a friend to Liberty Bank.
The $25 referral is only valid if a friend opens a new checking account or money market account. New accounts must remain open and have a minimum of three transactions within 30 days of account open date to qualify for program. $25 will be automatically deposited into referring customer's Liberty account. You need to fill out the "refer a friend coupon" and give it to a friend for family member.
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