National Exchange Bank and Trust CD

National Exchange Bank and Trust CD Review

National Exchange Bank and Trust CD is offered by National Exchange Bank & Trust, a bank founded in 1933 and based in Fond du Lac, WI. National Exchange Bank and Trust CD is available in 1 state across the USA.

Key Takeaways

• Small selection of CD account types. National Exchange Bank and Trust CD only offers IRA and traditional CDs.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.75%, which is much higher than the national average for a CD account.
• $1,000 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
• Wide selection of CD terms. National Exchange Bank and Trust CD allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of National Exchange Bank and Trust CD

National Exchange Bank and Trust CD FAQ

Are CDs from National Exchange Bank & Trust federally insured?

Yes, your National Exchange Bank & Trust CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #10044). 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 National Exchange Bank & Trust 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 rolling over 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 National Exchange Bank and Trust CD offers a CD that is specifically for retirement.

What CD rates does National Exchange Bank & Trust offer on its CDs?

National Exchange Bank and Trust CD offers an APY starting at 0.05% and ranging up to 0.75%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

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

National Exchange Bank and Trust CD requires a minimum deposit of $1,000 to open an account.

What is the grace period for National Exchange Bank and Trust CD?

There is a 10-day grace period for National Exchange Bank and Trust CD. 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 10-day 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 National Exchange Bank and Trust CD 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.

National Exchange Bank & Trust charges an early withdrawal fee.