Home Savings Bank Lowers Internet CD Rates

Home Savings Bank, headquartered in Youngstown, Ohio, has recently lowered CD rates on their 1 and 2 year internet certificates of deposit. Home Savings Bank lowered CD rates by 10 basis points on their regular certificates of deposit and 20 basis points on their jumbo certificates of deposit.

The new lower rates on the bank's internet certificates of deposit are still higher than the bank's traditional brick and mortar CD rates. The rates are still also very competitive as compared to other bank CD rates.

For example, the new 1 year internet CD rate is 1.14 percent with a yield of 1.15 percent. The rate is higher than the average 1 year CD rate currently at 1.09 percent and Home Savings Bank's 1 year rate is still in the top seven rates available in the rate database. The current CD rate changes are listed below:

Home Savings Bank CD Rate Changes

Opening a CD account online is quick and easy and it will only take around 10 minutes. You must be a U.S. Citizen or resident alien. You need to be 18 years or older, have a U.S. address, a social security number, and a state issued drivers license or identification card.

CD account disclosers, which we had to dig deeply for on hsbutah.com, are listed below.

Facts on Home Savings Bank CD Accounts

• Minimum opening balance is $5,000
• Interest is compounded every day
• Interest is credited to your account at maturity (for terms of 7 months or less) or quarterly
  (for terms of more than 7 months). Another option is to have interest paid by check or to another
  bank account rather than credited to the Home Savings Bank account.
• CD accounts will automatically renew at maturity

Home Savings Bank Early Withdrawal Penalties

• If the account has an original maturity of four months or less:  The fee the bank may impose will equal 30 days interest on the amount withdrawn subject to penalty.
• If your account has an original maturity of six months to 15 months: The fee the bank may impose will equal three months interest on the amount withdrawn subject to penalty.
• If your account has an original maturity of more than 15 months: The fee the bank may impose will equal six months interest on the amount withdrawn subject to penalty.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some
cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is
part of an IRA or other tax-deferred savings plan.

To see a list of all Home Savings Bank CD Rates or to fill out an online CD account application go to Home Savings Bank CD Rates and Application.