Centennial Bank Savings Account 2.28% APY

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Not a great offer at all, but you will get more from Centennial Bank than from, say, HSBC Direct.

Right now, Centennial Bank is offering up to 3.30% APY for its savings account. The minimum balance required to open an account is only $500. However, to earn the top tier rate, you will have to have at least $100,000 in deposit. If you have anywhere from $500 to $10,000, then you will get 2.28% APY. Complete rate information is listed below:

Variable Rate Tiered Savings Account
$500.00 Minimum

Balance

Interest
Rate
Annual
Percentage
Yield
$500.00 – 9,999.99 2.25% 2.28%
$10,000 – 24,999.99 2.50% 2.53%
$25,000 – 49,999.99 2.75% 2.79%
$50,000 – 99,999.99 3.00% 3.05%
$100,000 – and over 3.25% 3.30%

If the account balance falls below $500, the account doesn’t earn any interest, even though there’s no account maintenance fee. With this account, you can make at most 6 withdrawals per month, 4 of them are free of charge. Any withdrawal over the 4 limit in a calendar month will cost you $5.

This tiny bank, established on October 25, 1979,  is located in Fountain Valley, CA with only one branch office and has been a member of FDIC since November 3, 1989 (certificate number 32707). According to Bankrate.com’s Safe & Sounding Rating, Centennial Bank has 4-star rating.

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  • Chitika