Bank of Oakfield CD Rates

By: EconomyWatch Content Team   Date: 24 July 2010

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The Bank of Oakfield is a bank that is working for the betterment of its customers’ financial future. This bank is an independent community bank that serves the Fond du Lac County area in the state of Wisconsin. The areas it serves in particular include Oakfield, Brandon and Van Dyne. The bank offers an array of banking products and services, as well as loans and mortgages, commercial specialties, Internet banking and bill pay, agribusiness specialties, community resources, financial calculators and the golden advantage club. If you would like to invest then take a look at the current Bank of Oakfield CD rates. You won’t be disappointed that you did!

Certificates of deposit are a smart way to build up your savings. At the Bank of Oakfield website you will find a certificates of deposit calculator that will make it possible for you to determine how much interest you would earn on any given CD term. This is a handy feature that you should take the time to try out for yourself. It takes some of the guesswork out of choosing a CD term.

When you bank at this financial establishment what you can expect is to receive an interest rate that is competitive and is coupled with a wide selection of options for maturities. This makes it possible for you to choose the term that fits in most appropriately with your financial hopes and dreams.

The minimum opening deposit for a CD at the Bank of Oakfield is $500. The early withdrawal of money will incur a penalty which in turn will reduce your interest earnings. The penalty is not the same for every term. All CDs have the interest earnings credited to the account on a quarterly basis with the exception of the 3 month CD which has interest credited at the time of maturity.

Here are the most recent Bank of Oakfield CD rates:

•    3 Month CD- Rate of 1.00%, APY of 1.00% (penalty/charges for early withdrawal- 1 month interest)
•    6 Month CD- Rate of 1.29%, APY of 1.30% (penalty/charges- 3 months interest)
•    12 Month CD- Rate of 1.64%, APY of 1.65% (penalty/charges- 6 months interest)
•    18 Month CD- Rate of 1.73%, APY of 1.75% (penalty/charges- 6 months interest)
•    24 Month CD- Rate of 1.98%, APY of 2.00% (penalty/charges- 12 months interest)
•    36 Month CD- Rate of 2.23%, APY of 2.25% (penalty/charges- 12 months interest)
•    48 Month CD- Rate of 2.47%, APY of 2.50% (penalty/charges- 12 months interest)
•    60 Month CD- Rate of 2.96%, APY of 3.00% (penalty/charges- 12 months interest)

As you can see if you withdraw money from a certificate of deposit early (even if it is a small percentage of money) the interest you will lose as a result is substantial. Please note that all three locations of the bank feature a drive-up service. To learn more about the current Bank of Oakfield CD rates visit the website found at http://www.bankofoakfield.com/.
 


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