Why give this small town bank your money for 19 months? Pioneer Bank in Chaves County is trying to peddle 19 month 1.25 % Certificates of Deposits subject to early withdrawal penalties. The newspaper ad you see below advertises a well below competitive savings plans compared to the higher interest rate, no penalty/fee savings choices you in the following list.
There is a long list of higher APY places to invest your hard earned money such as:
SYNCHRONY BANK – 1.55% APY, NO MINIMUM BALANCE
GOLDMAN SACHS BANK USA – 1.50% APY
CIT – 1.55% APY, $100 to open
Ally Bank – 1.45% APY
American Express, FSB – 1.45% APY, no minimum balance (and no fees)
Home town loyalty gets tossed out the window here. Your hometown banker does not give a crap about you unless you have a credit score over 750. Dump them and get the interest rates your deserve