Exchange Bank Certificate of Deposit

Exchange Bank Certificate of Deposit Review

Exchange Bank Certificate of Deposit are offered by Exchange Bank, a bank founded in 1894 and based in Omaha, NE. Exchange Bank Certificate of Deposit are available in 2 states across the USA.

Key Takeaways

• Small selection of CD account types. Exchange Bank Certificate of Deposit only offers IRA and traditional CDs.

Pros & Cons of Exchange Bank Certificate of Deposit

Exchange Bank Certificate of Deposit FAQ

Are CDs from Exchange Bank federally insured?

Yes, your Exchange Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #1435). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Exchange Bank offer?

• Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CD for another term.
• IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but Exchange Bank Certificate of Deposit offers a CD that is specifically for retirement.

What CD rates does Exchange Bank offer on its CDs?

What is the minimum deposit to open a CD account with Exchange Bank?

What is the grace period for Exchange Bank Certificate of Deposit?

Exchange Bank Certificate of Deposit does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Exchange Bank Certificate of Deposit charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

Exchange Bank does not charge an early withdrawal fee.

Exchange Bank does charge any of the fees we track.