Q:

What is the advantage of having a Certificate of Deposit from Third Federal?

A:

Quick Answer

A certificate of deposit with Third Federal pays a higher annual percentage yield, known as APY, than Fifth Third Bank, PNC Bank and First Merit, claims the company’s website. The bank pays a higher APY on its six-month, one-year, two-year and five-year CDs as of 2015.

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Full Answer

A CD with Third Federal offers low minimums and competitive rates, according to the company’s website. Bauer Financial, a national independent rating source, gives Third Federal a five-star rating. CDs from Third Federal do not require debit card usage, direct deposit, opening separate accounts or payment commitments. Third Federal offers CDs with maturity dates ranging from six months up to 72 months.

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