5.51% 7-Month CD at a Texas Bank

Sovereign Bank is offering a 5.51% APY (5.40% interest rate) 7-month certificate of deposit. The minimum is $25K. The offer ends July 3rd. The special doesn't seem to be listed at the bank's website. It was advertised in the June 20th Dallas Morning News. The ad is available online here.

Sovereign Bank has branches in Dallas, Southlake, Richardson, Las Colinas, Cedar Park and Austin.