Florida-based Climate First Bank is now offering a range of attractive account options available nationwide.
These include a 6-Month No-Penalty CD Special with a 5.34% APY, a 15-Month Flex CD Special, a Choice Personal Money Market account, and a Choice Personal Checking account.
All these options require new money and are accessible through an online application.
Climate First Bank Offer
The 6-Month No-Penalty CD Special requires a $500 minimum deposit, with no withdrawals allowed within the first seven days.
Afterward, unlimited withdrawals are permitted without penalties.
The 15-Month Flex CD Special also requires a $500 minimum deposit and allows additional deposits and one penalty-free withdrawal of up to half the initial principal balance.
The Choice Personal Money Market account offers a 5.34% APY on balances between $50k and $10m, with a rate guarantee until June 1, 2024.
The Choice Personal Checking account, requiring a $50 minimum deposit, offers the same 5.34% APY, guaranteed until June 1, 2024.
Rates last updated January 19, 2024.
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Other key features include:
- Early Withdrawal Penalty: 90 days interest on the 15-Month Flex CD for withdrawals exceeding half of the initial principal.
- One-time rate bump option in the 15-Month Flex CD.
- $15 monthly service fee for the Money Market account if the balance falls below $5k.
- A2A transactions are limited to $1k per day for the Money Market account.
- Direct deposit requirement for the Choice Personal Checking to maintain the APY.
Availability and Account Opening
Climate First Bank’s products are available to U.S. citizens and resident aliens with a valid Social Security number. Accounts can be opened online, by phone, or at three full-service Florida branches in Eustis, St. Petersburg, and Winter Park.
Funding and Other Particulars
The accounts can be funded via ACH, wire, check, or internal transfer. Interest is compounded daily and credited monthly for CDs. Beneficiaries can be assigned without requiring their Social Security numbers.
Climate First Bank was establishment in June 2021.
The bank has focused on environmental sustainability and providing competitive rates and customer service.
It has seen a significant increase in its non-brokered deposits, demonstrating strong growth and customer trust.
Our Take on the Offer
Climate First Bank’s new offerings are compelling, especially for those looking for short-term, high-yield investments with flexibility. The bank’s commitment to environmental sustainability adds an extra layer of appeal for eco-conscious customers.
The attractive rates, combined with the security of a high health grade and the convenience of online access, make these accounts a strong option for a wide range of banking needs.