CNB Bank Direct 2.08% Savings Account

CNB Bank Direct 2.08% Savings Account

While it is true that very few will shell out 2.80 percent on savings and money market accounts, that it’s exactly how much a person can earn with CNB Bank Direct? To learn more about this, here are some subheadings you must read.

What is Citizens National Bank (CNB) Bank Direct?

CNB Bank Direct is the online division of Citizens National Bank of Bluffton in Ohio. CNB was founded in 1920 and it has expanded its assets to a whopping $ 481 million. Currently, it has seven branches in the Northeast Ohio, namely: Bluffton, Elida, Lima, Van Wert, Findlay, Celina, and Springfield. Its Federal Deposit Insurance Corporation (FDIC) number is 6531.
Standing of Citizens National Bank

If you will ask about the ratings of CNB, you will definitely be surprised. It has received four out of five stars in Bankrate’s “Safe & Sound” ratings system. Not only that. The same ratings were given by Bauer Financial. That only means that CNB is a bank which provides safety for your money.

How to Apply Online

The application process for CNB Bank Direct is so easy. First, you have to visit the bank and submit an application. Then you will receive a welcome email that informs you of how to finish the account opening process. Funding for the account is done electronically. You simply have to attach it to a primary checking account at another bank, then do fund transfers via Automatic Clearing House (ACH). This normally takes between one to two days. After this, they will verify your account via two test deposits. They will also be inquisitive about your credit, so be aware about this. This is a regular thing for a bank to do when someone opens an account.

The minimal balance should be a dollar, and there are no fees required. Every month, you can make up to six withdrawals, but the deposit is unlimited.

What About the 2.08% APY

APY stands for annual percentage yield. This is the annual rate of interest that you get out of your deposits or investments. It is also analogous to APR’s or annual percentage rates which are applied in loans. Simply put, annual percentage yield is the amount paid to a depositor by the financial institution he caters.

With Citizens National Bank, you get 2.08% annual percentage yield. That is over six times the national average for savings accounts. That’s also even better than 12-month CD rates or certificate of deposit rates which have now dropped to 1.06% and compared to money market accounts today. And take note that this 2.08% APY is available to every investor across the whole country.

So for instance you have a hundred dollars on your account. After a year, it becomes $102.08 already. But what if you’ve got a bigger savings like a million dollars? You are going to get $ 20,800 APY after a year. That’s a total of $ 1,020,800 on your savings account! Where else would you find that? Of course, only in CNB Bank Direct.

Prepaid Master Card

Prepaid master card
Prepaid cards are the recent growing trend nowadays. Not only a trend but also safer to carry without even bothering about losing or some stealing it from you. Pre paid master cards are very sophisticated form of carrying cash. You can load the card with some prescribed amount and you can use the card till the money in the card is used and then again you can reload the card with money. You don’t have to be scared of the monthly bill or over dues because you are using your money and not on the banks credit. If you have money you can reload it or you can wait till you earn and then load. Most of the banks provide pre paid master cards these days in the motive of making life easier for customers.
There are many types of pre paid cards to choose from. First is the general purpose card which can use like your debit cards. You can use it if you have money loaded in the card. Most of the shops which accept credit card also accept pre paid master cards.
One more use of this pre paid master card is you can use it for gifting purpose. You can load some amount of money and gift to your loved ones. Now they can use it wherever they want. Some banks even allow you to customize the card and send it to your friends or relatives.
One more form of pre paid master card is it can be used as travel cards. You don’t have to afraid of carrying lot of cash in your pockets when you travel abroad. This is an alternative to travelers check as well.

Master Card Credit Card

Master card credit card

Credit cards are already popular among people these days. People tend to move towards safer ways of handling cash rather than carrying it in their pockets all through their travel. One such comfort is the use of master card credit card. Most of the banks offer credit cards especially master cards. Depending on the bank and the geographic location the offers and interest rates differ and vary.
Most of the banks do not collect any annual fee or membership fee for possessing the card. This is a new offer almost all the bank have this on their offers list.
The banks offer discounts coupons to various retail outlets when they use the master card credit card. The retails outlet might be an antique shop or restaurant or a jeweler shop and there is not specific type of store.
Adding to the comfort most banks offer online tracking and transaction operations that too free of cost which means you don’t have to reach out the bank, stand in queue for anything related to your credit card. Also to pay back we just need to drop the checks in the drop boxes placed around the places mostly in ATMs and authorized dealers. The interest rates are also not imposed on the customer till certain number of days. Some banks offer up to 45 days of paying back the money.
In some banks they have points earning schemes where the card earns one point if you spend 1 dollar in a retail outlet. Some banks even offer 2 points. These points can redeemed for gifts based on the number of points that you have earned.

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