First State Bank of Colfax CD Rates

By: EconomyWatch Content Team   Date: 26 July 2010

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The First State Bank of Colfax found in Colfax, Iowa is a member of the FDIC. This means that all accounts at this bank are backed by the safety and security of   the Federal Deposit Insurance Corporation. Whether you decide to open a checking account, a savings account or a time certificate your money will be safe up to the total of $250,000 per depositor. This can provide all banking customers with the peace of mind they require to trust in the First State Bank of Colfax.

The First State Bank of Colfax CD rates is competitive with those of other banks. The bank offers a variety of terms for certificates of deposit. Some require a minimum opening balance of $1,000, while others require $10,000 and still others require $25,000. The compounding frequency for all of the terms is semiannual with the exception of the 3 month term which is quarterly.

Here is the most recent First State Bank of Colfax CD rates that were effective as of June 14, 2010. Please note that the minimum opening balance required is given in parentheses.
These are the rates for the regular CDs. They are as follows:

•    72 Months- Interest rate of 2.63%, APY of 2.65% ($10,000)
•    60 Months- Interest rate of 2.63%, APY of 2.65% ($25,000)
•    60 Months- Interest rate of 2.63%, APY of 2.65% ($10,000)
•    60 Months- Interest rate of 2.48%, APY of 2.50% ($1,000)
•    48 Months- Interest rate of 2.44%, APY of 2.45% (10,000)

•    48 Months- Interest rate of 2.24%, APY of 2.25% ($1,000)
•    36 Months- Interest rate of 2.19%, APY of 2.20% ($25,000)
•    36 Months- Interest rate of 1.79%, APY of 1.80% ($1,000)
•    30 Months- Interest rate of 1.74%, APY of 1.75% ($1,000)
•    24 Months- Interest rate of 1.59%, APY of 1.60% ($25,000)
•    24 Months- Interest rate of 1.49%, APY of 1.50% ($1,000)
•    18 Months- Interest rate of 1.35%, APY of 1.35% ($1,000)
•    12 Months- Interest rate of 1.30%, APY of 1.30% ($10,000)
•    12 Months- Interest rate of 1.25%, APY of 1.25% ($1,000)
•    6 Months- Interest rate of 1.00%, APY of 1.00% ($10,000)
•    6 Months- Interest rate of 0.75%, APY of 0.75% ($1,000)
•    3 Months- Interest rate of 0.25%, APY of 0.25% ($1,000)

If you would prefer to open an IRA CD then you can do that. There is two different terms for IRA CDs- 18 months and 48 months. The minimum balance to open these CDs is $1,000. The compounding frequency is semiannual. Here are the interest rates and annual percentage yields for the IRA CDs:

•    18 Months- Interest rate of 1.40%, APY of 1.40%
•    48 Months- Interest rate of 2.48%, APY of 2.50%

Opening a certificate of deposit at the First State Bank of Colfax is a smart idea for anyone who is serious about saving! To educate yourself further about the First State Bank of Colfax CD rates visit the bank online at http://fsbcolfax.com/.
 


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