Ultima Bank CD Rates

By: EconomyWatch Content Team   Date: 21 July 2010

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The Ultima Bank or Ultima Bank Minnesota is your ultimate commerce solution. The bank offers to its customers banking services, professional services and eSolutions. This bank found in Fosston, Minnesota experienced some setbacks before the start of the 1990s due to the declining population as well as the declining of the deposit base. However over time things improved and today it is a bank that does well for itself and is very valuable to the community at large.

The Ultima Bank is a small, rural bank that has a great deal of faith in itself and its customers at large. If you live in the area and are looking for an investment option then opening a CD account at the Ultima Bank is something you should seriously think about doing! The Ultima Bank Minnesota offers to its customers a large assortment of investment products. As well the Ultima Bank CD rates are very competitive.

The certificates of deposit at the Ultima Bank range from three months to five years. In order to open one you must provide a minimum deposit of $1,000. From time to time this bank offers special rates and terms that is not only competitive but is extremely competitive. In order to cash in on these special rates you must become a frequent visitor to the bank and/or you must visit the website on a regular basis.

Here are the most recent Ultima Bank CD rates which are current as of January 22, 2010:

•    3 Month Term- Interest rate of 0.65, APY of 0.65

•    6 Month Term- Interest rate of 1.05, APY of 1.05
•    9 Month Term- Interest rate of 1.15, APY of 1.15
•    12 Month Term- Interest rate of 1.40, APY of 1.40
•    18 Month Term- Interest rate of 1.50, APY of 1.51
•    24 Month Term- Interest rate of 1.75, APY of 1.76
•    36 Month Term- Interest rate of 2.15, APY of 2.16
•    48 Month Term- Interest rate of 2.40, APY of 2.41
•    60 Month Term- Interest rate of 2.65, APY of 2.67

At the present time the Ultima Bank has a certificate of deposit special that is effective through July 30, 2010. This special is:

•    12 Month Term- Interest rate of 1.49, APY of 1.50
•    24 Month Term- Interest rate of 1.94, APY of 1.95

In order to get the special you must put down a minimum of $1,000. Please be aware that there are no institutional deposits and that there is a substantial penalty for withdrawing your money early from a CD.

Interest in a CD account begins to accrue on the first business day following the day that the bank receives your deposit. It is then credited to your account every six months for the certificates that have terms that range from 12 months through 60 months.

To learn more about the Ultima Bank CD rates visit them on the web at http://www.ultimabank.com/.
 


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