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North American Savings Bank CDs Review

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The North American Savings Bank (NASB) offers a variety of commercial banking products and services, namely bank accounts and loans. Based in Grandview, Missouri, the bank operates as a subsidiary of NASB Financial, Inc. and has been providing its services to customers for over 91 years. In addition to its headquarters, the NASB operates nine deposit branch locations, as well as three residential loan origination offices, and one residential construction loan origination office.
 
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How is North American Savings Bank rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

The NASB offers a limited, but strong selection of CD products at competitive rates. Although they are technically listed as variable rates, the APY each account starts with is guaranteed for at least a year, which means the only one that isn't fully protected against changing bank rates is the 24-month term CD. Customer satisfaction with the bank's services and products is high, as evidenced by its page on the BBB and the overall lack of complaints online. Lastly, because they are a deposit account, NASB's CDs enjoy most of the additional perks that the bank's savings accounts come with, including free financial management tools and internet banking. We recommend NASB's certificates of deposit to those who are looking for higher-yield CDs and who could use the additional, comprehensive suite of financial tools.

North American Savings Bank Account Features

Term Lengths and Features - 0 / 5

The NASB offers an extensive selection of traditional CDs at variable rates. This can initially seem quite confusing, but only one of their CD sections is available for purchase online, called its Online-only Specials. These specials feature much higher rates on average than the bank's in-branch CDs. Although their rates are variable, the CDs have their rates guaranteed (fixed) for one whole year after opening. NASB CDs can be held by one or more account owners and can be opened as trust or custodial accounts as well. A fixed-rate, IRA CD deposit account is also available. Customers have a choice of three terms: 6, 12, or 24 months. The 24-month CD has an opening minimum deposit of $1,000, whereas CDs with terms of 6 or 12 months have one of $5,000.
Type of Rate (Traditional)
Variable
Fixed
Types of CDs
Traditional CD
IRA CD
Account Ownership Types
Trust
Custodial
Guardian
Estates
Interest Compounded
Daily
Term Range
CD terms with NABC feature a wide variety of term length choices. The bank's Online-only CDs, however, feature just three term choices: six months, twelve months, or twenty-four months.
Minimum Deposit Amount
$1,000
Maximum Balance Limit
$0
Best Rate Guarantee
No
CD Calculator
No

North American Savings Bank Fees and Penalties

Minimum Deposits, Fees, and Penalties - 0 / 5

As with most CDs, the only significant fees account holders have to watch for are early withdrawal penalties. The penalty for withdrawing funds from an NASB CD account before it reaches maturity is six months interest on the amount being withdrawn. The bank does not specify whether it charges for any other, additional activity fees.
Early Withdrawal Penalty
Online-only Special CDs have an early withdrawal penalty of six months interest on the amount being withdrawn. Partial withdrawals are allowed on the CD account.

North American Savings Bank Financial Strength and Reputation

Customer Experience - 0 / 5

Although the NASB was founded in 1927, we could not find any of its credit ratings. The bank is accredited by the BBB, however, and currently holds an A+ rating with the bureau. It also enjoys a very small number of complaints online. 24-hour-a-day phone access is available for account owners via the bank's Personal Access Line. Consumers may contact the company via email, phone call, and social media Mondays through Fridays from 8:00 am to 5:00 pm. The bank is closed on Sundays and Saturdays.
Year Founded
1927
Live Help 24/7
Yes
Customer Support Hours
08:00 AM - 05:00 PM
Contact Methods
Phone
Email
Chat
Social Media
BBB Rating
A+
BBB Total Complaints
3
BBB Resolved Complaints
2
Consumer Financial Protection Board (CFPB) Complaints
0
Date Collected
2018-10-09

Company Profile

Full Name
North American Savings Bank CDs
Company Website
https://www.nasb.com/nasb-home/
Headquarters
12498 South 71 Highway, Grandview, MO, 64030

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Top Rated
Our Partner
  • 1.21% high-yield CD, 7.1X higher than national average.
  • Bank with purpose: your deposit helps us keep investing in underserved communities hard hit by the Covid crisis.
  • No fees.
  • FDIC insured.
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