Now through September 16, 2017, Capitol Federal Savings Bank (CapFed) is offering three Traditions CD Specials: 50-month (2.25% APY), 27-month (1.70% APY), and14-month (1.35% APY) . Of the three, the 50-month is the most competitive. The minimum deposit is $1k, with no stated balance cap.
All three Traditions CD Specials are available as IRAs (Traditional, Roth, CESA) earning the same APYs, with the same funding requirements, and the same limited-time availability.
Retirement accounts limited to 2017 annual IRA contributions only.
IRA rollovers, renewals, transfers and endorsements NOT eligible.
As stated on the Important Information page, the Early Withdrawal Penalty reads as follows:
For certificates with an original or renewal term greater than one year, with the exception of the 14-month CD, the penalty shall be equal to 180 days interest at the contract rate, non-compounded.
Thanks to DA reader, Carpline, for his Forum post about CapFed’s Traditions CD Specials.
Headquartered in Topeka, Kansas, CapFed is offering its Traditions CD Specials nationwide. According to the promotion page, the Traditions CD Specials can be opened online, in person at of any of branch locations, or by mail (snail mail, not e-mail).
The online application will be available from “Monday, September 11, 2017 at 8:00 a.m. CT through Saturday, September 16, 2017 at 9:00 p.m. CT.” IRAs cannot be opened online. Fax, email, and phone requests will not be honored. If you chose the mail option, your letter must be received on or before September 16, 2017.
Capitol Federal Savings Bank has 47 Kansas branches located in Andover, Derby, Emporia, Gardner, Kansas City, Lawrence (4), Leawood, Lenexa, Manhattan (2), Mission, Olathe (3), Overland Park (7), Prairie Village (2), Salina, Shawnee (3), Topeka (7), and Wichita (6), and four Missouri branches located in Liberty and Kansas City (3).
Credit Union Overview
Capitol Federal Savings Bank has an overall health grade of "A+" at EpBooks.us, with a Texas ratio of 1.97% (excellent) based on June 30, 2017 data. In the past year, CapFed has increased its total non-brokered deposits by $198.88 million, an excellent annual growth rate of 3.8%. Please refer to our financial overview of Capital Federal Savings Bank (FDIC Certificate # 27981) for more details.
Capitol Federal Savings Bank is the largest bank headquartered in Kansas, with assets in excess of $9.1 billion, and a leader in residential lending in Kansas and Missouri. Cap Fed was originally chartered in 1893 as the Savings and Loan Association of Topeka. It would be impossible to summarize Cap Fed’s 124-year history in a few sentences, but a common thread that runs through Cap Fed’s history is longevity, in both serving the community and the retention of employees. The best example of this is Henry A. Bubb, who was hired in 1926 as an office boy, and at the time of his death in 1989, was Bank Chairman.
How the Tradition CD Special Compares
When compared to 167 similar length-of-term CDs tracked by EpBooks.us, requiring a similar minimum deposit and available nationally, Capitol Federal Savings Bank’s 50-month CD Special APY currently ranks second.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.26% APY||48-Month Share Certificate||American Heritage Federal Credit Union|
|2.25% APY||50-Month Traditions CD Special||Capitol Federal Savings Bank|
|2.00% APY||48-Month CD||USALLIANCE Financial|
The above rates are accurate as of 9/12/2017.