2.00% 6-Month CD at H&R Block Bank – Available Nationwide
Posted on September 3rd, 2009
H&R Block Bank is offering a special 2.00% APY 6-month CD. Minimum deposit is $10,000. This rate is on the bank’s front page as of 9/07/09, and details are listed in the bank’s promotion page. Some important details mentioned in the small print and in the FAQ include:
- Promotional offer available September 1, 2009 through September 30, 2009
- Rates and fees are subject to change and are not guaranteed until the CD is opened. H&R Block Bank deems the account open upon receipt of collected funds
- Penalty for early withdrawal is 30 days of interest
- Grace period at maturity is 10 days
- Application can be submitted online or by mail
- CD can be put in the name of a trust
If you click on the “Apply Now” button at the CD promotion page, it opens a PDF form that has a submit and print button. When I started typing in this application, I was informed that when I select submit, the data will be emailed. I don’t know about the security of this submission method. If you have concerns, please contact H&R Block Bank. The form allows you to select funding by either a check or an ACH transfer from your checking or savings account at another institution.
When I posted on H&R Bank in 2007, there were concerns about its health due to H&R Block’s subprime mortgage servicing unit. However, they were able sell this off in May 2008 (see press release). The bank continues to have low ratings for safety and soundness: 2 stars (problematic) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both ratings are based on 3/31/09 financial data.
The bank has been a FDIC member since 2006 (FDIC Certificate # 58124). It’s a small bank that’s operated out of a Kansas City, Missouri office. From the FDIC database, as of 6/30/09, the bank has $984 million in assets, $720 million in total deposits and 57 employees.
Other Competitive Certificate of Deposit Rates
You can get 2% and higher on longer terms, but for a 6-month term, it’s tough to find a 2% CD. Bankrate’s best 6-month CD rate is only 1.76% APY. I have a couple of other 6-month CDs with rates higher than this in my 6-month CD list. To find other top CD rates, please refer to the following:
- My weekly list of hot nationwide and local CD deals
- My weekly list of all nationwide CD deals
- Index of state CD and bank deals
Similar Posts:
- 3.00% 9-Month CD at First Priority Credit Union in MA – Local Only
- 2.00% 12-Month CD, 2.50% 23-Month CD & 3.25% 42-Month CD at Regions Bank in Several States
- 1.898% APY for 11-month Certificate of Deposit, 3.55% APY best interest rate for 59-month CD special with CharterBank
- CD Rates with H&R Block Bank still competitive at 2.25% APY for a 24-month term, 2.00% APY for 3-month CD promo
- Competitive Mid-Term and Long-Term CD Rates at Northwest FCU – Easy Membership
Tags: Bank, Block Bank
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