Columbia Bank CD Rates
Columbia Bank offers competitive CD rates, providing a secure way to grow your savings with predictable returns. With a range of term options and favorable interest rates, their Certificates of Deposit present a straightforward and reliable choice for those seeking stability and financial growth.
Columbia Bank CD Rates Offers
Some of the Popular CD terms by Columbia Bank are;
12-Month CD
Key Features
- APY: 4.50%
- Minimum Balance for APY: $500
Considerations
Offers a high-yield option for short-term savings, allowing you to capitalize on favorable interest rates without a long commitment.
Pros & Cons
| Pros | Cons |
| High 4.50% APY | Short-term commitment |
| Quick access to funds after 12 months | Lower APY compared to longer terms |
| Suitable for short-term goals |
24-Month CD
Key Features
- APY: 4.25%
- Minimum Balance for APY: $500
Considerations
Strikes a balance between a competitive interest rate and a longer investment horizon, providing a stable option for medium-term financial goals.
Pros & Cons
| Pros | Cons |
| Competitive 4.25% APY | Longer commitment than 12-month CD |
| Moderate-term investment | Access to funds limited for 24 months |
| Balances yield and duration |
36-Month CD
Key Features
- APY: 3.00%
- Minimum Balance for APY: $500
Considerations
Offers a moderate interest rate over a three-year period, providing a compromise between yield and accessibility.
Pros & Cons
| Pros | Cons |
| 3.00% APY | Longer commitment than 24-month CD |
| Balanced returns over 3 years | Access to funds limited for 36 months |
| Suitable for medium-term goals |
60-Month CD
Key Features
- APY: 3.00%
- Minimum Balance for APY: $500
Considerations
Provides a fixed, competitive rate over a more extended period, suitable for those with long-term financial goals.
Pros & Cons
| Pros | Cons |
| Stable 3.00% APY | Extended 5-year commitment |
| Ideal for long-term goals | Access to funds limited for 60 months |
| Fixed returns over time |
Are Columbia Bank CD Rates Competitive?
Columbia Bank’s CD rates stand out with competitive offerings across different terms. For instance;
- The 12-month CD boasts a high 4.50% APY, while the 24-month, 36-month, 60-month, and 72-month CDs offer rates of 4.25%, 3.00%, 3.00%, and 3.00% APY, respectively.
These rates, coupled with a reasonable minimum balance requirement of $500 for all terms, position Columbia Bank favorably when compared to industry standards. However, individual financial goals and preferences should guide your decision, prompting a thorough comparison with other institutions to ensure the best-suited option.
Overview Columbia Bank
Columbia Bank started in 1993 as a community bank. It serves many states and customers in the Northwest area. Its main headquarters is in Tacoma, Washington but it has more than 140 locations throughout Washington, Idaho, and Oregon. They center on relationship-based banking and strive to form long-lasting relationships with all customers.
They also are very involved in the local communities, especially in the winter times when they raise money for food and donations for people impacted by homelessness. They have raised over $366,872 in cash and have donated more than 19,663 winter items. One hundred percent of the proceeds always go to Warm Hearts Winter Drive which operates and funds 54 homeless shelters.
They also received a $500,000 grant alongside the Washington Growers League through the Affordable Housing Program. The grant was paid for by the Federal Home Loan Bank of Des Moines. This grant will help create more agricultural jobs and help build seasonal housing for farmers.
The main purpose of the grant is to build a 144-bed facility in Mattawa, Washington. This will allow seasonal farmers a warm and safe place to live while they work
Availability
Existing customers and new customers can open certificate deposit accounts online or in the branch. To qualify for the Advantage Plus rates, you must already have an Advantage Plus Checking account that is currently in good standing. If you are interested in opening the Advantage Plus CD, it has to be done at a branch.
Locations Columbia Bank
Branches in Washington
The branches in Washington are:
Seattle, Maple Valley, Redmond, Bonney Lake, Tacoma, Snohomish, Bellevue, Monroe, Fircrest, Puyallup, Federal Way, Lacey, Auburn, Vancouver
Branches in Oregon
The branches in Oregon are:
Oregon City, Gresham, Portland, Tigard, Happy Valley, Bend, Beaverton, Hermiston, Eugene, Stayton, Ontario, Salem, Wilsonville, Silverton, Lake Oswego
Branches in Idaho
The branches in Idaho are:
Nampa, Caldwell, Twin Falls, Coeur d’Alene, Payette, Sandpoint, Priest River, Weiser, Post Falls, Ponderay, Rathdrum, Gooding, Bonners Ferry, Kellogg
Frequently Asked Questions
The required minimum balance is $10.
The significant APY is 4.75%.
The minimum balance authentication is $500 for all terms.
The 60-month CD term comprises an APY of 3.00%.
The Concerned APY is 0.05%.