First Mid Bank and Trust CD Rates and Account Details

First Mid Bank and Trust offers a range of CD rates to suit different needs.

Their CDs are available in various terms, including 6-month, 1-year, 2-year, 3-year, 4-year, and 5-year terms.

CD rates at First Mid Bank and Trust can change over time, so it's essential to check their website for the most up-to-date rates.

The bank requires a minimum deposit of $1,000 to open a CD account.

CDs from First Mid Bank and Trust can be opened online, by phone, or in person at one of their branches.

Intriguing read: Cd in Banking Terms

You can invest in a First Mid Bank & Trust CD account with as little as $1, making it a great option for those just starting out.

The 9-Month CD has a competitive APY rate of 4.08%, which is higher than a traditional savings account.

First Mid Bank & Trust offers a 12-Month No-Penalty CD, where you can withdraw your money without incurring any penalties, 7 days after opening the account.

Here are some key details about the CD rates at First Mid Bank & Trust:

There are no monthly service fees or early withdrawal penalties, making it a hassle-free option for your savings.

First Mid Bank & Trust offers a CD account with a minimum deposit of just $1.

You can invest in a CD account with as little as $1, making it a great option for those who want to start saving with a small amount.

The 9-Month CD has an APY rate of 4.08%, which is a competitive rate for a short-term CD.

First Mid Bank & Trust also offers a 12-Month No-Penalty CD, but the APY rate is not listed.

The bank allows soft pull credit inquiries, which means it won't affect your credit score.

There is no monthly service fee or early withdrawal penalty for this CD account.

Here's a quick summary of the current CD rates offered by First Mid Bank & Trust:

Overall, First Mid Bank & Trust's CD rates are competitive and offer a low minimum deposit requirement, making it a great option for those looking to save money.

Historical rates for CDs have fluctuated over the years, with the highest average rate recorded in 1980 at 15.24%. This was during a time of high inflation in the US.

First Mid Bank & Trust CDs offer a range of benefits that make them a great option for savers. The CDs are FDIC insured, which means your deposits are protected up to $250,000.

You can access your funds 24/7 online, which is incredibly convenient. No need to worry about visiting a branch or waiting for business hours to get to your money.

First Mid Bank & Trust has over 150 years of experience delivering solutions to customers, which speaks to their commitment to customer satisfaction.

Here are some key features of First Mid Bank & Trust CDs:

First Mid Bank & Trust CD accounts have a minimum deposit requirement of just $1, making it easy to get started.

The bank offers a 12-Month No-Penalty CD, a 9-Month CD, and a 6-Month High-Yield CD, among other options.

You can withdraw your funds from a First Mid Bank & Trust CD account without penalty, as long as you wait 7 days after opening the account.

Here's a quick summary of the CD terms offered by First Mid Bank & Trust:

A CD account is a type of savings account that earns a fixed interest rate for a specific term, such as 6 months or 1 year.

To open a CD account, you'll need to deposit a minimum amount of money, which can vary depending on the bank or credit union you're working with.

Our bank requires a minimum deposit of $1,000 to open a CD account.

You can fund your CD account with a single deposit or with multiple deposits over a period of time.

The interest rate on your CD account is fixed for the entire term, so you'll know exactly how much interest you'll earn from the start.

If you withdraw your money before the end of the term, you'll face a penalty, which can be up to 6 months of interest.

CD accounts are insured by the FDIC, so your deposits are protected up to $250,000.

You can close your CD account early, but you'll need to pay the penalty and any interest that's accrued.

A fresh viewpoint: First National Bank Money Market Rates

You can open a First Mid Bank & Trust CD Account with just $1.

The minimum deposit requirement is the same across all CD terms, at $1.

There is no maximum deposit limit, so you can put as much as you want into your CD.

A minimum deposit of $1 is required for the 9-Month CD and the 12-Month No-Penalty CD.

Here's a quick summary of the minimum deposit requirements:

If you're looking for alternatives to CDs, you have several options. Online savings accounts and high-yield savings accounts can offer competitive interest rates, often higher than those of traditional CDs.

For example, some online savings accounts can earn up to 2.15% APY, while high-yield savings accounts can earn up to 2.5% APY. This means you can earn more interest on your savings without being locked into a long-term CD.

Money market accounts and treasury bills are also alternatives to CDs, offering liquidity and competitive interest rates. Some money market accounts can earn up to 2.2% APY, while treasury bills can offer returns ranging from 1.5% to 5%.

Broaden your view: First Foundation Bank Money Market Rates

Interest rates on savings accounts are typically fixed, ranging from 0.01% to 2.00% APY, making them less attractive for long-term savings.

High-yield savings accounts can be a low-risk alternative to CDs, but they are subject to federal and state income taxes on interest earned.

The tax implications of investing in a money market fund are similar to those of a savings account, with interest earned subject to federal and state income taxes.

Certificates of deposit (CDs) are generally considered tax-deferred investments, but early withdrawal penalties can negate any tax benefits.

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If you're looking for other savings options, you might consider websites like CreditDonkey, which provides data-driven analysis to help you save money and make savvy decisions. CreditDonkey is a bank comparison website that aims to help you make informed choices about your finances.

Some online banks offer high-yield savings accounts that can earn you more interest than a traditional savings account. For example, CreditDonkey publishes data on various bank options, including First Mid Bank & Trust.