High Yield CDs at Crestmark Bank

Crestmark Bank of Troy, Michigan has high rates on all of its CDs. The 1-year CD rate is now 5.25% APR and the 180-day CD is at 5.10% APR. There's a minimum deposit of $25K and a maximum of $200K. Credit for this find goes to Victor who posted about it in the finding deals post. Below is the full list of CD rates:

Certificate of Deposit Rates
Maturity         Rate (APR)
30 days             4.80%
60 days             4.85%
90 days             5.00%
180 days            5.10%
270 days            5.15%
365 days            5.25%
545 days (18 mos.)  5.30%
730 days (2 yrs.)   5.35%
910 days (30 mos.)  5.30%
1095 days (3 yrs.)  5.30%
1275 days (42 mos.) 5.30%
1460 days (4 yrs.)  5.30%
1825 days (5 yrs.)  5.30%

Note, that these rates are in APR. The APY may be even higher. The website doesn't provide the compounding details. In fact, it doesn't provide many details at all. From the looks of Crestmark's website, it appears the bank is only intended for business accounts. However, both Victor and I have received email from Crestmark stating that they do accept personal accounts. I was told these CDs can only be opened through the Troy, Michigan office. However, they can be opened by mail. So I believe it's available to those who live outside Michigan.

The bank is FDIC insured and ranks 3 of 5 stars at Bauer Financial (adequate).