National Exchange Bank and Trust Dollars for Scholars

National Exchange Bank and Trust Dollars for Scholars Review

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

Key Takeaways

• Only one CD type available. National Exchange Bank and Trust CD only offers traditional CD accounts.
• Low APY. The maximum annual percentage yield for this account is only 0.45%.
• $300 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
• Limited selection of CD terms. National Exchange Bank and Trust CD only offers one CD term. This limits your options when trying to set up a CD ladder.

Pros & Cons of National Exchange Bank and Trust Dollars for Scholars

National Exchange Bank and Trust Dollars for Scholars FAQ

Are CD 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 automatically renewing the CDs for another term.

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

The CD rates for this account have an APY of0.45% (APY stands for annual percentage yield, rates may change).

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

National Exchange Bank and Trust CD require a minimum deposit of $300 to open an account.

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

National Exchange Bank and Trust CD 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 National Exchange Bank & Trust 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 term ends.

National Exchange Bank & Trust charges an early withdrawal fee.

National Exchange Bank & Trust does charge any of the fees we track.