Great Western Bank is one of the most compelling choices for all those who are looking to strike and attain a balance between solid returns and the safety of their investment. This balance is approached by the right and appropriate choice of the CD rates term.

To investigate the CD aspects of Great Western Bank here is the comprehensive analysis stated next;

Great Western Bank CD Rates Offers

Great Western Bank is highly authenticated for its CD terms. here are some of the options for your interest;

12-Month CD

  • Minimum Deposit: $500
  • Fees: No monthly fees, but beware of potential early withdrawal penalties.
  • Current Rate: 0.85% APY

Consideration

The 12-month CD term offers a relatively short commitment, making it an ideal choice for investors who prefer liquidity and flexibility. The competitive 0.85% APY ensures a decent return over the short investment horizon.

Pros & Cons

ProsCons
Short-term commitment for liquidityLower APY compared to longer-term alternatives
Accessible online, mobile, or in-branchLimited potential for substantial growth

17-Month CD

  • Minimum Deposit: $500
  • Fees: No monthly fees, but be mindful of potential early withdrawal penalties.
  • Current Rate: 2.40% APY

Consideration

The 17-month CD term strikes a balance between short and medium durations, providing investors with a higher yield at 2.40% APY. This option caters to those seeking a more substantial return while maintaining some flexibility in their investment timeline.

Pros & Cons

ProsCons
Higher APY for increased returnsSlightly longer commitment than a 12-month CD
Flexible access options for convenience

24-Month CD

  • Minimum Deposit: $500
  • Fees: No monthly fees, but be cautious of potential early withdrawal penalties.
  • Current Rate: 1.15% APY

Consideration

The 24-month CD term offers a longer commitment with a steady 1.15% APY. This option suits investors seeking a balance between stability and a modest increase in returns over a more extended period.

Pros & Cons

ProsCons
Long-term stability with steady returnsModerate APY compared to shorter-term options
Accessible through various channels

48-Month CD

  • Minimum Deposit: $500
  • Fees: No monthly fees, but be mindful of potential early withdrawal penalties.
  • Current Rate: 1.41% APY

Consideration

The 48-month CD term caters to long-term planners, offering consistent growth with a 1.41% APY. This option is suitable for investors looking to secure a higher return over an extended investment horizon while maintaining the safety of their funds.

Pros & Cons

ProsCons
Consistent growth over an extended periodLonger commitment with limited liquidity
Relatively higher APY for increased returnsEarly withdrawal penalties may impact flexibility

Are Great Western Bank CD Rates Competitive?

Great Western Bank CD rates are moderately competitive, as it offers a range of terms with Annual Percentage Yields that can provide investors with favorable returns. The bank’s rates compare well with industry standards, making them an attractive option for individuals seeking a balance between stability and growth.

How do Great Western Bank CD Rates Compare?

When compared to other financial institutions, Great Western Bank CD rates demonstrate competitiveness, particularly in terms of providing a variety of terms to cater to different investor preferences.

While the 12-month CD may have a relatively lower APY, the 17-month and 48-month CDs offer more compelling rates, positioning Great Western Bank favorably in the market. The bank’s commitment to providing accessible and secure investment options further enhances its comparative appeal.

Overview Great Western Bank 

Great Western Bank has a variety of checking accounts which ensures that there is something for everyone. Customers appreciate Great Western Bank because they offer checking accounts for senior citizens that earn great interest; their opening deposit requirements are also quite low. Not to mention their CDs do own a pretty high APY when compared to other banks. Great Western Bank has nine locations (currently) so if you live around the Midwest and the Southwest, then you will be happy to find that you will probably have a Great Western Bank near you that is ready to be of service to you.

Availability

You must be a member of Great Western Bank to open a CD. This means that you will need to open a checking or savings account. Ensure that all of your papers are available to make the process as simple as possible.

Locations Great Western Bank

Branches in California

As of current, Great Western Bank does not have any locations in California. However, they do have nine other branches located in these states:

Great Western Bank also provides access to over 35,000 free ATMs throughout the states. You can find the nearest (and free) ATM next to you through MoneyPass or Shazam Privileged Status.

You can also go on their respective website, enter your zip code, city, or state and they will be able to locate a branch nearest you. Please note that special deals and promotions might apply to one bank but not another. Talk to your branch representative first to see if they have any special deals or promotions going on at your local branch.

Frequently Asked Questions

Has the Great Western Bank undergone any recent changes?

Yes, a merger was completed on February 1, 2022. Great Western Bank is now an operating division of First Interstate Bank.

How do I access my CD account with Great Western Bank?

You can conveniently access your CD account online, through mobile banking, or by visiting a branch. Choose the method that best suits your preferences and needs.

Are there any monthly fees associated with Great Western Bank CDs?

No, there are no monthly fees. However, it’s important to note that an early withdrawal penalty may apply if you decide to withdraw funds before the maturity date.

Can I still visit a physical branch for my banking needs?

Yes, you can continue to visit a physical branch for your banking needs. Great Western Bank, now an operating division of First Interstate Bank, maintains its commitment to providing in-person services.

Has the merger affected the terms and conditions of existing CDs?

No, the merger has not affected the terms and conditions of existing CDs. Your agreements remain intact, and any changes, if applicable, would have been communicated directly to affected account holders