- Bank Of The West Cd Promotion
- Bank Of The West Interest Rates Today
- Bank Of The West Cd Rates Nebraska
- Bank Of The West Money Market Rate
- Bank Of The West Cd Rates Special Promotion
Central Bank Disclosure of Deposit Yields & Rates
Effective Dates: March 1, 2021 – March 9, 2021
Type | Name | APY* | Interest Rate | Minimum Balance to Obtain APY |
|---|---|---|---|---|
Checking Accounts | Central Interest/Business Interest/Business 250 Interest Checking | 0.05% | 0.050% | $1.00 |
Checking Accounts | Platinum Checking | 0.10% | 0.100% | $50,000 |
Checking Accounts | Platinum Checking | 0.05% | 0.050% | $10,000 |
Checking Accounts | Platinum Checking | 0.05% | 0.050% | $1.00 |
Health Savings Account | Health Savings Accounts | 0.05% | 0.050% | $1.00 |
Savings Accounts | Savings Accounts | 0.05% | 0.050% | $1.00 |
Money Market Accounts | Money Market/Money Market Plus | 0.05% | 0.050% | $2,500 or > (>$1 for MM+) |
Money Market Accounts | Money Market/Money Market Plus | 0.05% | 0.050% | $2,499 or < (N/A for MM+) |
Central Money Market | Personal | 0.05% | 0.050% | < $10,000 |
Central Money Market | Personal | 0.05% | 0.050% | $10,000 to $49,999 |
Central Money Market | Personal | 0.05% | 0.050% | $50,000 to $99,999 |
Central Money Market | Personal | 0.10% | 0.100% | $100,000 to $249,999 |
Central Money Market | Personal | 0.15% | 0.150% | $250,000 or > |
Central Money Market | Nonpersonal | 0.05% | 0.050% | < $10,000 |
Central Money Market | Nonpersonal | 0.05% | 0.050% | $10,000 to $49,999 |
Central Money Market | Nonpersonal | 0.05% | 0.050% | $50,000 to $99,999 |
Central Money Market | Nonpersonal | 0.05% | 0.050% | $100,000 to $249,999 |
Central Money Market | Nonpersonal | 0.05% | 0.050% | $250,000 or > |
Certificate of Deposit | 7 to 31 Days | 0.05% | 0.050% | $20,000 |
Certificate of Deposit | 32 to 89 Days | 0.05% | 0.050% | $5,000 |
Certificate of Deposit | 90 to 179 Days | 0.10% | 0.100% | $2,500 |
Certificate of Deposit | 180 to 364 Days | 0.15% | 0.150% | $1,000 |
Certificate of Deposit | 1 Year | 0.15% | 0.150% | $500 |
Certificate of Deposit | 2 Years | 0.20% | 0.200% | $500 |
Certificate of Deposit | 3 Years | 0.30% | 0.300% | $500 |
Certificate of Deposit | 4 Years | 0.40% | 0.399% | $500 |
Certificate of Deposit | 5 Years | 0.50% | 0.499% | $500 |
Current CD Specials | Central Advantage (1 year – individuals only) | 0.10% | 0.100% | $2,500 |
Current CD Specials | CD Management Account (1 year – variable rate) | 0.05% | 0.045% | $2,500 |
Individual Retirement Accounts | Variable Rate – 18 Months | 0.15% | 0.150% | $100 |
Individual Retirement Accounts | Fixed Rate – 6 Months | 0.15% | 0.150% | $500 |
Individual Retirement Accounts | Fixed Rate – 12 Months | 0.15% | 0.150% | $500 |
Individual Retirement Accounts | Fixed Rate – 24 Months | 0.20% | 0.200% | $500 |
Individual Retirement Accounts | Fixed Rate – 36 Months | 0.30% | 0.300% | $500 |
Individual Retirement Accounts | Fixed Rate – 60 Months | 0.50% | 0.499% | $500 |
Certificates of Deposit or CDs provide a safe investment with a fixed interest rate through maturity. Whether you’re investing for a short-term goal or a longer-term financial need, our CDs provide the flexibility to help you grow your savings on your preferred timetable. Overall, through West Suburban’s high-yield CDs, you’ll be able to earn great return for almost any CD term. For instance, you’ll earn at a 0.40% for a 12 month CD. If you open a CD with a term of 5 years, you could earn at a 0.90% APY. However, the bank. 30 Month FLEX CD 0.55% APY. Rates are not guaranteed and are subject to change without notice. West Central Bank 400 East. The IRA CDs don’t have the Relationship CD rates so they earn even less than the normal Bank of the West CDs. You have to be careful with making a small deposit, too. While you can open a Bank of the West IRA CD.
- Three CD account options
- Easily navigable website
Bank Of The West Cd Promotion
- Relatively low-earning interest rates
- High minimum deposit amounts
- Customers living in Bank of the West’s service area who want access to physical locations
Bank of the West offers three different CD account types. These allow you to find an account that works best for you and your financial situation. If you have only $1,000 to deposit, you’ll want to open a Flexible-Term CD. That way, you don’t have to overstretch your funds to meet the other accounts’ higher minimum deposits.
You won’t find the best CD rates with Bank of the West. Only one account earns at a rate above 1%. Plus, to earn that rate, you’ll need a pretty high deposit (over $25,000).
It’s important to know that you’ll need to visit your local Bank of the West branch to open a CD. You can also only open a Bank of the West account if you live in one of the 19 states the bank serves.
Flexible-Term CD
Instead of being beholden to specific set CD terms, Bank of the West allows you to choose your exact term length with a Flexible-Term CD. Your shortest option is 32 days which works best for a short-term savings goal. Just be careful of the low interest rates, since they may not yield as much savings as you’re hoping to get.
| Flexible-Term CD | Minimum Deposit | APY |
| 32 - 89 Day | $1,000 | 0.03% |
| 90 - 179 Day | $1,000 | 0.03% |
| 180 - 364 Day | $1,000 | 0.05% |
| 12 - 23 Month | $1,000 | 0.10% |
| 24 - 35 Month | $1,000 | 0.20% |
| 36 - 47 Month | $1,000 | 0.30% |
| 48 - 60 Month | $1,000 | 0.40% |
Premium Money Market CD
For slightly higher rates, you can check out the bank’s Premium Money Market CDs. You will need to meet a higher minimum deposit of $2,500. If you can meet this minimum, you’ll have access to 12 specific CD terms, each with better rates than their Flexible-Term CD counterparts.
| Premium Money Market CD | Minimum Deposit | APY |
| 91 Day | $2,500 | 0.03% |
| 182 Day | $2,500 | 0.05% |
| 8 Month | $2,500 | 0.05% |
| 10 Month | $2,500 | 0.06% |
| 12 Month | $2,500 | 0.10% |
| 13 Month | $2,500 | 0.40% |
| 14 Month | $2,500 | 0.15% |
| 15 Month | $2,500 | 0.15% |
| 16 Month | $2,500 | 0.15% |
| 18 Month | $2,500 | 0.20% |
| 24 Month | $2,500 | 0.25% |
| 60 Month | $2,500 | 0.40% |
Relationship CD
Bank of the West’s Relationship CD only comes as a 12-month term. You’ll need a Bank of the West Signature Checking or Premier Checking account to open this account, though. You’ll also need to deposit at least $2,500.
| Relationship CD | Minimum Deposit | APY |
| 12 Month | $2,500 | 0.10% |
32-89-Day CD Interest Rate Comparison
Compare Bank of the West to Other Competitive Offers
Overview of Bank of the West CDs
With three CD accounts available, Bank of the West offers its customers the opportunity to find the account that fits best for them and their financial situation. With a Flexible-Term CD, you get to open an account at any term length that you’d like. Plus, you don’t need to meet the higher minimum deposit that the other two accounts require. But if you already have a qualifying Bank of the West checking account, you could benefit from opening a Relationship CD instead.
Every Bank of the West CD will renew automatically when it matures. This is when it reaches the end of its original term. Once your account reaches maturity, you’ll have a grace period of 10 days to make any changes to that account if you’d like. This includes making withdrawals, additional deposits or even changing the term.
If you really need to withdraw some of your principal before the account matures, you’ll face a penalty. Often, this penalty is so huge that you won’t really get much by making an early withdrawal. Withdrawals from an account of seven to 31 days assess a penalty of $25 + 31 days simple interest. Withdrawals from accounts of 32 days to 11 months charge a penalty of $25 + 1% of the amount withdrawn while withdrawals from accounts of 12 to 59 months charge a penalty of $25 + 3% of the amount withdrawn. Accounts of 60 months or longer charge a penalty of 730 days of simple interest.
How Much You Earn With Bank of the West Certificate of Deposits Over Time
Bank of the West offers generally low interest rates, especially on its short-term accounts. If you open a 90-day account, for example, you’ll see savings of a few cents by the time your CD matures. This won’t be quite enough to save toward significant expenses.
Bank Of The West Interest Rates Today
You will see a bit more growth with longer-term accounts. However, this means you’ll have to wait much longer to benefit from that growth. For example, you’ll have to wait two years to earn a mere $9 on a $1,000 deposit.
| Initial Deposit | 90-Day Flexible-Term CD | 24-Month Flexible-Term CD | 60-Month Promotional CD | 12-Month Relationship CD |
| $1,000 | $1,000.08 | $1,009 | - | - |
| $2,500 | $2,500.19 | $2,523 | $2,602 | $2,505 |
| $5,000 | $5,000.38 | $5,045 | $5,204 | $5,010 |
| $10,000 | $10,001 | $10,090 | $10,408 | $10,020 |
Bank Of The West Cd Rates Nebraska
How Bank of the West CDs Rates Compare to Other Banks
Bank Of The West Money Market Rate
Since you have to set aside your CD deposit for the term’s entirety, you’re going to want to make sure your deposit is growing at a worthwhile rate. Bank of the West doesn’t really offer the best rates, so you’ll do better to open a CD (or two) elsewhere. We’ve given Bank of the West’s Flexible-Term CD rates below. Luckily, Bank of the West does offer higher rates than big banks like with Chase CDs.
To find the highest CD rates in the industry, you’ll want to turn to online banks like Ally Bank and Marcus by Goldman Sachs. Ally also offers three CD types, but with more variety. For one, you can open a No-Penalty CD to avoid an early withdrawal penalty. You don’t have to worry about meeting a minimum deposit to open an Ally CD, which can allow you to open multiple high-yield CDs.
Marcus offers fewer options, but each option offers a great rate. You can see below that the bank’s rates outperform Bank of the West’s rates across the board. There is still a minimum deposit with Marcus, but at $500, it is still much lower than Bank of the West’s.
Bank Of The West Cd Rates Special Promotion
| CD Account | Bank of the West | Ally | Marcus by Goldman Sachs |
| 6 Month | 0.05% | 0.75% | 0.60% |
| 1 Year | 0.10% | 1.50% | 1.85% |
| 3 Year | 0.30% | 1.55% | 1.85% |
| 5 Year | 0.40% | 1.60% | 1.90% |
Should You Get a Bank of the West CD Account?
Getting a Bank of the West CD account makes the most sense if you’re already a customer with the bank. If you already have a Signature Checking or Premier Checking account, you’ll be able to open a Relationship CD. On the whole, Bank of the West’s CD rates aren’t great enough to seek out. But if you’re already a customer, you can more easily open an account at your local branch to add to your savings.