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5.75% 3-Month CD at a Missouri Bank (St. Louis)


St. Louis Bank is offering a 5.75% 3-month certificate of deposit. The minimum is $10K and the funds must not already be on deposit at the bank. This special is not listed at the bank's website. It was advertised in today's St Louis newspaper. The ad is available online here.

There's also a special 5.50% APY CD with terms of 6 to 24 months that is listed at the bank's rate page. The minimum is also $10K.

According to the ad you can open the CD by phone in addition to visiting a branch. Neither the ad nor the website mentions if accounts can be opened by those who live outside of Missouri.

The bank seems to have these CD specials often. In May the bank was offering a 5.35% 12-month CD.

St. Louis Bank's main location is in Town and Country, Missouri.

The bank is FDIC insured. It's a new bank that was established on June 6, 2005 so it doesn't yet have rating at It's also a small bank with 32 employees and $197 million in total assets.

Comment #1 by Anonymous posted on
The 5.75% 3-month CD rate is no longer available.

I went into St. Louis Bank personally today and was offered only 5.50% 6-month CD rate. This does not suit my purpose.

Rather disappointing. I have been trying to open high-yield accounts locally for 4 years. Only things offered here require at least $25,000 to $50,000 minimum deposits for longer periods of time.

I am also confused because I ordered an application for the 5.75% CD last week just before I left town, knowing I would apply for the account immediately. I got the appplication and I called to confirm the offer today and chose to go in personally since I had time and wanted to see the branch.

The ad mentioned "calling to open the account", when I asked how that worked I was told it meant they would send you the application in the mail to fill out and you where to forward it along with your SSN# and your driver's license info. Another reason I wanted to make the transaction in person. I would have preferred an on-line application process.

What would have happened if I had just filled everything out and just sent in the check? Not a good way to do business. Was told by the staff person upon my arrival, they were not originally informed about the length of time the offer was available however everyone was informed as to the discontinuation of the special. When I called I was not informed and wasted an hour.

It's a shame. I would prefer to do business locally. St. Louis is not ready to play the game going on all around the country. They are missing a great marketing opportunity. I will keep my money in a high-yield accounts outside of St. Louis.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Sorry to read about the problems. Thanks for sharing your experiences about this bank. That is very bad customer service when they give wrong information over the phone and then refuse to honor what was said on the phone.