Corridor State Bank CD Rates

By: EconomyWatch Content Team   Date: 19 July 2010

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The Corridor State Bank is an independent community bank that is found on Corridor Way in Coralville, Iowa. The bank serves the citizens of Iowa City and Coralville.This independent bank offers to its customers' personal banking products and services such as savings, certificates of deposit (CDs) and money market accounts. It also offers business banking and mortgages. If you have not taken a close look at the most recent Corridor State Bank CD rates then you need to ask yourself what you are waiting for! The time is now to purchase a certificate of deposit.

The certificates of deposit can be thought of as savings vehicles that provide set interest rates that are fixed for a particular span of time. To put it another way, the interest rates are fixed. In most cases the interest rates increase in relation to the maturity dates. What this means is that the longer term you choose the more interest you have the opportunity to earn. Please note that interest rates at the Corridor State Bank are reviewed on a weekly basis.

There are important things worth knowing about the Corridor State Bank CDs. A minimum deposit is required and all interest rates are fixed with a selection of different maturity terms. Automatic renewal is available for your CD if that is what you wish to do with it once it matures. There is a substantial penalty for withdrawing your money early except in the event that the owner dies suddenly or the owner experiences a medical emergency. This is in sharp contrast to most banks which impose a stiff penalty regardless of the circumstances.

The Corridor State Bank offers a tiered plan that makes it possible for you to earn a higher interest rate the more money you deposit into your CD account. To learn more about this you must contact someone from the branch.

The terms for CDs at Corridor State range from 3 months to 60 months. Here are the current Corridor State Bank CD rates as of March 5, 2010:

•    3 Month- APY of 0.90%, Interest rate of 0.897%
•    6 Month- APY of 1.00%, Interest rate of 0.996%
•    9 Month- APY of 1.25%, Interest rate of 1.245%
•    12 Month- APY of 1.55%, Interest rate of 1.541%
•    16 Month- APY of 1.75%, Interest rate of 1.739%
•    18 Month- APY of 1.90%, Interest rate of 1.887%
•    Special- 19 Month- APY of 2.05%, Interest rate of 2.034%
•    24 Month- APY of 2.10%, Interest rate of 2.084%
•    30 Month- APY of 2.25%, Interest rate of 2.232%
•    36 Month- APY of 2.30%, Interest rate of 2.281%
•    48 Month- APY of 2.60%,  Interest rate of 2.576%
•    60 Month – APY of 2.90%, Interest rate of 2.869%

If you are looking for a bank that offers excellent rates on CDs then you have found it with Corridor State in Iowa.


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