Onbank is a division of M&T Bank. It has been established as an Online Bank. Its method of online banking has completely revolutionized the traditional banking method. Without actually going to the bank, you can open, fund and manage your accounts completely online. Their website https://www.onbank.com acts as the actual bank branch for you.
All your deposit accounts at OnBank are insured by FDIC up to the maximum allowable limits. Now you can open your Certificate of Deposit (CD) Account with OnBank without any monthly fees. Given below are the APYs for different terms of CD Account:
– With a minimum deposit of $500 locked in for 3 months would earn 2.50% APY.
– With a minimum deposit of $500 locked in for 6 months would earn 2.90% APY.
– With a minimum deposit of $500 locked in for 12 months would earn 3.03% APY.
– With a minimum deposit of $500 locked in for 18 months would earn 3.09% APY.
– With a minimum deposit of $500 locked in for 24 months would earn 3.96% APY.
* All the above APYs have been noted as on 5/17/2008.
CD Account Features:
@ A CD account can be opened with as little as $500.
@ The mentioned APYs are applicable to personal accounts only.
@ Early withdrawal penalties is applied for balance-withdrawal before maturity.
@ You get to earn a fixed rate for any term that you choose.
@ You can manage your account at anytime.
@ A fee is charged for services like paper statement delivery, overdrafts, etc.
OnBank Access: https://www.onbank.com/access.asp helps you to make online withdrawals and deposits in your account. You can manage your account totally at OnBank Access page: https://www.onbank.com/access.asp
Your deposits are fully secure with OnBank. So you can enjoy banking with a single click of your mouse in the comfort of your home. For complete details Visit this page: https://www.onbank.com/prod_cd.asp. In case of any queries call at 1-866-948-BANK (2265).