Westfield Bank Signature CD Review

Westfield Bank Signature CD is offered by Westfield Bank, a bank founded in 1998 and based in Westfield, MA. Westfield Bank Signature CD is available in 2 states across the USA.

Are cd accounts from Westfield Bank federally insured?

Yes, your Westfield Bank cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). 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 Westfield Bank offer?

• IRA
• Traditional

What APY does Westfield Bank offer on its CDs?

Westfield Bank Signature CD offers an APY starting at 2% and ranging up to 2.7% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

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

Westfield Bank Signature CD requires a minimum initial deposit of $1,000 to open an account.

What types of early withdrawal penalties does Westfield Bank Signature CD charge?

Financial institutions don't typically charge many fees on certificate of deposit accounts. However, some do charge a fee if you chooose to withdrawal your money before the CD term ends.

Westfield Bank does not charge an early withdrawal fee.