Umbrella Bank Posts Highest 12-month CD Rate

Yesterday, October 29th, Umbrella Bank increased their 12 month CD by 0.04% putting it in the number one spot in our rate tables with a 2.10% APY. This new rate overtakes Amboy, which also has a 2.10% APY, because unlike Amboy Direct’s minimum deposit of $10,000, Umbrella Bank only requires a minimum deposit of $1,000.

Umbrella Bank

You can find more information by viewing the Umbrella Bank profile page.  Opening a new CD account on Umbrella Bank is actually very easy with it’s online application that allows initial funding via an ACH transfer, though ACH transfers are not available once the CD matures.

Financial Health: On May 15th the Office of Thrift Supervision released a cease and desist order to the parent bank, New South Federal Savings Bank, Irondale, Alabama, which can be reviewed here. Because of this the BauerFinancial currently has the bank at a safety and soundness rating of 0 stars out of 5.

About the banks

 

UmbrellaBank.com

UmbrellaBank.com is the Internet banking division of New South Federal Savings Bank. New South Federal is a member of the Collateral Family of Companies, which has been in the financial services industry since 1933. UmbrellaBank.com offers a wide range of banking products to meet all of your financial needs. Our products are available with online access so you can do your banking when it is convenient for you, 24 hours a day, 7 days a week.

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