Beacon Federal Bank is offering a 2.45% APY 2 year CD and a 2.25% APY for 18 month certificate of deposit with a minimum deposit of $2,500. This CD is also available as IRA CD rates.
As an additional bonus you’re allowed a one-time increase in the CD rate during your term. If their CD rates increase at any point during your term you can utilize this feature. Another perk is that they’ll call you before setting up your account. This way if the rate falls between when you mail your application and when they receive it, you don’t have to accept the rate.
There isn’t an online application so you’ll need to fill an application out in paper if you don’t live near a branch. Branches of Beacon Federal Bank are located in Massachusetts, New York, Tennessee, and Texas.
The early withdrawal penalty is 180 days’ interest and the grace period is 10 days.
Beacon Federal Bank has a 2 out of 5 star soundness rating from bankrate and is FDIC insured. Check out the best jumbo CD rates we found.