You never know when when you’ll need to rely upon your savings account to make ends meet. Finding a high yield savings account can help you save even more money by paying you back in higher interest rates. CNB Bank Direct is offering a high yield savings account to get you started on your savings goals.
Chapter 1. Who is CNB Bank Direct?
CNB Bank Direct is based out of Bluffton, Ohio. CNB Bank Direct was started in 2008 and offered bank accounts that could be opened and start earning interest for only $1. In those few years since the bank was launched, they have acquired over $560 million in assets. CNB Bank Direct now employs around 145 people and has eight physical locations in Ohio. This bank is FDIC insured, which means it is backed up by the government, so your money will be protected up to $250,000.
Chapter 2. Why Choose this Savings Account?
Banks offer different accounts for you to invest your money in. A savings account is the most simple account, with the least amount of regulations and stipulations required for the account. Most savings accounts have a low opening balance, as well as a low monthly balance required. Plus, there aren’t fees for withdrawing too many times each month, or before a certain period of time. Other types of accounts, like money markets or CDs, offer higher interest rates, but the high yield savings account from CNB Bank provides you with the perks of a savings account and the interest rate of a money market account or even a CD.
Chapter 3. Account Benefits
The high yield savings account from CNB Bank Direct is currently offering an annual percentage yield of 1.05%. Most other savings accounts have an APY considerably lower. In fact, this CNB Bank high yield savings account APY is more than five times the national average for a savings account offered through a bank. This means CNB Bank Direct will pay you more interest for investing in their savings account than another banks will. As previously mentioned, this account only requires $1 to open the account and start earning the high APY of 1.05%. Other accounts can require a certain amount to be deposited into the account before you start earning the highest amount of interest, but the high yield savings account from CNB Bank Direct pays you interest on everything above just $1.
This bank is based out of Ohio, but through their website, you can access your account at anytime. You can keep an eye on what your money is doing without ever having to visit the branch location. Plus, since this account is primarily an online account, there are no monthly service fees. You won’t have to worry about getting upset about paying fees or meeting certain requirements to avoid having to pay the fees.
Chapter 4. Applying
This high yield savings account from CNB Bank Direct is offering interest rates higher than most other savings accounts. If you have been looking for a savings account to help you save money and allow you to make a little extra money off your own money, this account is a good option. Applying for this account is easy and can be done through their CNB Bank Direct’s official website.