Great Western Bank CD Rates
First Interstate Bank, formerly known as 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;
13-Month CD
- Minimum Deposit: $500
- Fees: No monthly fees, but beware of potential early withdrawal penalties.
- Current Rate: 4.26% APY
Consideration
The 13-month CD term offers a relatively short commitment, making it an ideal choice for investors who prefer liquidity and flexibility. The competitive 4.26% APY ensures a decent return over the short investment horizon.
Pros & Cons
| Pros | Cons |
| Short-term commitment for liquidity | Lower APY compared to longer-term alternatives |
| Accessible online, mobile, or in-branch | Limited potential for substantial growth |
18-Month CD
- Minimum Deposit: $500
- Fees: No monthly fees, but be mindful of potential early withdrawal penalties.
- Current Rate: 0.15% APY
Consideration
The 18-month CD term strikes a balance between short and medium durations, providing investors with a higher yield at 0.15% APY. This option caters to those seeking a more substantial return while maintaining some flexibility in their investment timeline.
Pros & Cons
| Pros | Cons |
| Higher APY for increased returns | Slightly 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: 0.20% APY
Consideration
The 24-month CD term offers a longer commitment with a steady 0.20% APY. This option suits investors seeking a balance between stability and a modest increase in returns over a more extended period.
Pros & Cons
| Pros | Cons |
| Long-term stability with steady returns | Moderate APY compared to shorter-term options |
| Accessible through various channels |
37-Month CD
- Minimum Deposit: $500
- Fees: No monthly fees, but be mindful of potential early withdrawal penalties.
- Current Rate: 0.25% APY
Consideration
The 37-month CD term caters to long-term planners, offering consistent growth with a 0.25% 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
| Pros | Cons |
| Consistent growth over an extended period | Longer commitment with limited liquidity |
| Relatively higher APY for increased returns | Early 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 13-month CD may have a relatively lower APY, the 18-month and 37-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
Yes, a merger was completed on February 1, 2022. Great Western Bank is now an operating division of First Interstate 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.
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.
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.
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