10% 12-Month CD at a Dallas Bank ($5K max)

American Bank of Texas is offering a special 10% APY 12-month CD. The maximum deposit is $5K. You must be a new customer, and you must open a checking account at the bank's McKinney, Texas branch. This special is not shown at the bank's website but in an ad published in today's Dallas Morning News. The ad is available online here.

I've made sure to put the $5K max in the title so it won't be confused with an April Fools Day joke. But even with the $5K max, this is a good deal. The 10% APY is about 5% over the best 12-month CDs nationally available. So 5% of $5K is $250. That's a nice checking account bonus. The ad doesn't specify which type of checking account is eligible. The bank does offer a free checking account with only a $25 minimum opening balance.

For those who work at Tenet Healthcare facilities, there's another 10% 12-month CD being offered by Tenet FCU with a $2.5K max. I consider these promotional certificates of deposit a good deal if the max is at least enough so the extra interest earned would be comparable with a $100 checking account sign-up bonus.