Limited-Time, 2.65% APY 18-Month CD Announced by Stearns Bank

Posted: August 26, 2022 | By: LendVer Staff –

Stearns Bank National Association, a $2.3 billion nationwide financial institution based in St. Cloud, MN, just announced the release of a limited-time 18-month certificate of deposit (CD) with an industry-leading 2.65% APY. Stearns Bank is a commercial bank primarily focused on cultivating and supporting the success of its business owner clients and has built a reputation of integrity and financial excellence underscored by its mottos of We get the job done® and We answer on the first ring.

With its 48-month CD currently offering a return of 2.25% APY, Stearns Bank’s decision to offer a 2.65% APY on an 18-month CD is an exciting move to entice new deposit relationships. Stearns Bank is no stranger to offering above-market returns on its deposit products, and in addition to high-yield CDs the bank currently provides the following options to business owners:

BusinessSmart™ Checking

Stearns Bank’s FDIC-insured BusinessSmart™ checking account is a must for any business owner looking for a transparent business checking account that earns above-market interest, offers cash-back rewards, has no hidden fees, and no minimum balance requirement.

  • 0.25% APY* paid on balances from $0.01 to $24,999.99
  • 0.50% APY* paid on balances of $25,000.00 or more
  • No minimum balance requirement
  • No opening balance requirement
  • No hidden fees or paying for things you don’t need
  • Earn interest on any balance
  • Free monthly eStatements
  • Premier live customer support
  • Remote check deposit and ACH / wire transfers
  • Nationwide ATM network (41,000 free ATM locations)
  • Debit card paying 0.10% Diamond Cash Rewards on EVERY debit card purchase, deposited to your account monthly**
  • Autobooks for managing customer payments (send invoices and offer online payment options)
  • Free Access to StearnsConnect™ for premium account features

Click Here to Open a High-Yield CD or Deposit Account

BusinessSmart™ Market Savings

Stearns Bank’s FDIC-insured BusinessSmart™ savings account is a strategic first step in a business’s long-term plan to generate interest on hard-earned cash reserves and manage balances for planned and unexpected capital events.

  • 0.50% APY* paid on balances from $0.01 to $99,999.99
  • 1.51% APY* paid on balances of $100,000.00 or more
  • No minimum balance requirement
  • No opening balance requirement
  • No hidden fees or paying for things you don’t need
  • Earn interest on any balance
  • Free monthly eStatements
  • Premier live customer support
  • Remote check deposit and ACH / wire transfers
  • Easily link to your BusinessSmart™ checking account for convenient cash-flow management and protection
  • Nationwide ATM network (41,000 free ATM locations)
  • Free Access to StearnsConnect™ for premium account features

*APY is annual percentage yield. APY is effective as of 08/26/2022 and subject to change at any time, including after account opening. Fees may reduce earnings.

**Earn up to $500 per month. Pending and preauthorized debit card transactions do not earn cash back rewards until the final transaction posts to the account. Cash Rewards rate effective 08/26/2022.

Conclusion

While other banking institutions have been slow to increase deposit rates, Stearns Bank is encouraging business banking relationships and offering above-market interest rates for deposits and CDs. Stearns Bank’s limited-time CD with an astounding 2.65% APY surely won’t last long, so those interested in securing a high rate of return on capital reserves for the next 18-months should act fast and contact Stearns Bank.


Interested in opening an 18-month CD with a 2.65% APY? Contact our recommended best business bank account provider Stearns Bank.

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