UmbrellaBank.com Announces Entry to Online CD Market

News provided by

Jan 25, 2023, 10:06 ET

Online-only division of Beal Bank specializes
in competitive CDs and savings products

PLANO, Texas, Jan. 25, 2023 /PRNewswire/ -- UmbrellaBank.com (umbrellabank.com), a division of Beal Bank (Member FDIC), is pleased to introduce itself to savings depositors and investors across the nation. The UmbrellaBank.com brand specializes in offering online-only certificates of deposit (CDs) with competitive rates, currently featuring a 12-month CD at 4.65% APY* with a $1,000 minimum deposit.

CDs have long been attractive for investors seeking secure, stable returns. However, in the current rising interest-rate environment, they may also be attractive to investors who may not have previously considered CDs but now seek solid returns at low risk.

Beal enterprise Chief Operating Officer Brent Lundberg said, "UmbrellaBank.com customer service professionals can help customers open an account online and answer questions from investors who are new to the CD-buying experience."

UmbrellaBank.com has a newly-upgraded online banking experience that is straightforward and easy to navigate, allowing anyone to open CDs and manage their accounts with ease.

All deposits through umbrellabank.com, a division of FDIC-insured Beal Bank, are insured up to applicable FDIC limits.

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* The annual percentage yield (APY) advertised for the Certificate of Deposit herein is accurate as of the date of this publication and is available online only through umbrellabank.com. Rates offered may change without notice. Minimum balance to open an account and obtain APY is $1,000. A substantial penalty may be imposed for early withdrawal. The advertised APY may be discontinued at any time; contact UmbrellaBank.com for current CD rates. Each depositor is FDIC-insured up to applicable limits. Fees may reduce earnings. For additional terms and conditions, contact UmbrellaBank.com.

About Beal Bank: Beal Bank, based in Plano, Texas, near Dallas, shares the Beal Bank brand with its sister institution Beal Bank USA, and has a well-earned reputation as a stable, strongly capitalized financial institution, with assets of approximately $5.3 billion as of September 30, 2022. Beal Bank is a member of FDIC. For more information, visit FDIC.gov.

CONTACT: [email protected]

SOURCE Beal Bank