Palladian Private Bank is offering a 1 year 1.90% APY CD with a minimum deposit of $10,000. Palladian Private Bank is an online bank so this offer is available nationally. They’re also offering a savings account with a 1.70% APY for accounts with at least $10,000 in them.
You can fund the account via an ACH transfer but you can’t setup a POD account with this internet bank.
The early withdrawal penalty on the certificate of deposit is 90 days’ interest and the grace period is 10 days. The savings account doesn’t come with an ACH transfer system which is pretty weird for an online bank not to have. You can transfer funds by initiating transfers from another bank. There’s no monthly fees on the savings account.
Palladian Private Bank has a 2 out of 5 star soundness rating from Bankrate and is FDIC insured. To visit their website click here.
Is your college ascisoated with a credit union? If so, check their rates. They are often better than bank rates. Even if your college isn’t directly ascisoated with a CU, check around for ones in your area and compare. You might have to invest $50 to open a savings account to become a member and get a loan, but the savings in interest will pay that back.