5.26% 15-Month CD at a Florida Bank ($50K min)

Florida Choice Bank is offering a 5.26% APY 15-month CD. The minimum deposit is $50K. An APY of 5.12% is available for deposits between $25K and $50K. These certificates of deposit are Flex CDs which have the following features: allows one withdrawal of up to one half the original principle balance without penalty, allows additional deposits in increments of $100, up to one half of the initial deposit amount, and Flex CDs allow an increase of the interest rate one time if the bank offers a higher rate on the same term Flex CD.

These special Flex CDs were advertised in today's Orlando Sentinel and are not listed at the bank's website.

These CD rates are high even without the flexible feature. The withdrawal feature of the flexible feature is nice, however, the one-time bump feature is likely not to be useful since the term has to be the same. Banks often change terms on these special CDs. For example, a few weeks ago the bank was offering a 4.89% APY 14-month Flex CD. So those who opened these CDs will have to wait longer for another 14-month Flex CD to take advantage of the bump-up opportunity.

Florida Choice Bank has branches in the following Central Florida cities: Orlando, Ocala, Clermont, Longwood, Leesburg and Mt. Dora.