Sovereign Bank 2% 6 Month CD Rates
With the banking industry, the average 6 month CD is at 1.12% APY, the Sovereign Bank 2% 6 month CD rates can earn your investment a high rate with this short-term investment. At this time, Sovereign Bank is still offering its Limited Time Save and Invest CD Package promo where you get to have your short term investment to work harder for you.
To obtain and enjoy one of the highest rates available in the 6 month CD category, you must open both the Sovereign Bank 6 month Special Save CD and the Sovereign Bank 36 month Investment CD with equal opening deposit amounts.
To open a Save & Invest CD Package, the minimum deposit is $5000 and the maximum deposit is $499,999. Half of your opening deposit, or at least $2500, is placed in the 6 month Save CD which will earn interest at a rate of 1.98%, corresponding to a 2.00% APY.
The remaining half of your remaining opening deposit, or at least $2500, is placed in the 36 month Invest CD. For this rate a branch office must be personally contacted
On the maturity date of your Invest CD, and as long as you have not withdrawn any of the balance prior to that date, your principal balance will not decrease, regardless of the performance of any index. Your Save CD and your Invest CD are insured by the FDIC.
A penalty will be imposed for early withdrawals from the Invest CD and for any withdrawals from the Save CD within the first six days after the Save CD is opened. If you ask to make an early withdrawal from either your Save CD or the Invest CD, the entire balance of that CD must be withdrawn. In addition, if you make an early withdrawal from your Invest CD during the term of your Save CD, your Save CD will also be closed.
These CD rates are posted September 1, 2010. If the Sovereign Bank 2% 6 Month CD rates is what you are looking for, visit the nearest and most convenient Sovereign Bank branch to open the Sovereign Bank Save & Invest CD Package.
For additional resources about CDs on this website, please view Sallie Mae CD Rates – Best 3 Year CD Rates. For more information from another resource about a financial institution please view Citibank ThankYou Rewards on our sister site.
We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.
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Tags: 6 month cd, bank cd rates, Best CD Rates, CD rate, investing, money, Sovereign Bank
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