Ascencia Bank has a 1-year certificate of deposit with a 1.22 percent annual percentage yield (APY). The CD rate is current as of June 10, 2011. The bank offers other CD rates and terms, including:

• 1.04 percent APY for 6 months
• 1.49 percent APY for 2 years
• 1.45 percent APY for 2.5 years
• 1.5 percent APY for 3 years
• 2.38 percent for 5 years

The Louisville-based bank requires a minimum deposit of $500 to open a certificate of deposit. The maximum that can be deposited in a certificate of deposit is $97,000. Ascencia Bank CDs feature:

• 24-hour online access to CD accounts
• Interest is compounded monthly
• Bank can limit the number of CDs an individual can open
• Interest rate is guaranteed for 20 days from the date of application
• No withdrawals for first 90 days account is open
• Insured by the Federal Deposit Insurance Corp. (FDIC)

Withdrawing funds early results in penalties. The penalty for early withdrawal from CDs with a term of 12 months or less is 91 days interest on the amount withdrawn. The penalty for terms greater than 12 months is 182 days interest.

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