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Colorado FSB Lowers Top 1 Year CD Rate to 1.25%

Colorado Federal Savings Bank, which had the top 1 year CD rate in our database, has recently lowered their rate. The new 1 year CD rate at Colorado FSB is now at 1.25 percent with a yield of 1.25 percent. The old 1 year CD rate was 1.29 percent with a yield of 1.30 percent. Colorado FSB Jumbo 1 year CD rates were also lowered to 1.24 percent with a yield of 1.30 percent.

Colorado FSB is headquartered at 8400 East Prentice Avenue, Suite 840, Greenwood Village, C0lorado. The bank's headquarters is also the bank's only brick and mortar location. CD accounts can be opened online at coloradofederalbank.com.

The minimum opening balance is $5,000 and the minimum account balance to earn the rate and yield is $5,000. The bank can close your CD account if the balance falls below the posted minimum balance. CD interest earned on the account is compounded daily and is posted to the account quarterly at the end of March, June, September, and December. The bank uses the daily balance method to calculate the interest on accounts. This method applies a daily periodic rate to the principal in the account each day. After the CD account is opened, you may not make additional deposits into this account until the maturity date.

Colorado FSB has been around since 1990 and is chartered as a Savings Association regulated by the Office of the Comptroller of the Currency. Colorado FSB's certificates of deposit and other deposit accounts are insured by the FDIC. Colorado FSB's FDIC certificate number is 33111.

There are no ACH fees, monthly maintenance fees, or online account fees associated with certificates of deposit. The bank will only allow transfers to and from your original linked account.

The early withdrawal penalty for withdrawals prior to maturity date is equal to 3 months worth of interest on CD terms of one year or less and 6 months worth of interest for CD terms over one year. All currently accrued but not posted interest will also be forfeited. These penalties are not as harsh as some banks' penalties. Some banks charge a year's worth of interest for an early withdrawal penalty.

The CD account will automatically renew at maturity upon the expiration of the redemption grace period. The bank will send you an email notice at least (30) days prior to maturity. You will have ten (10) calendar days after the maturity date to withdraw your funds without being charged a penalty. Each renewal term will be the same as the original term, beginning on the maturity date. The CD interest rate will be the current CD rate in effect at the time of maturity.

Author: Brian McKay
June 14th, 2016