Dedicated to Deposits: Deals, Data, and Discussion

5.90% 72-Month CD at a Missouri Bank (Garden City)


Garden City Bank is offering a 5.90% APY 72-month certificate of deposit. The 60-month CD is also competitive at 5.64% APY. These have a minimum of $100. There's also a special Fall CD with a rate of 5.60% APY with a 13 month term and a $1,000 minimum.

The 5.90% CD has been available for much of this year. Earlier this year, I hadn't considered it that great of a deal while rates were still rising. But now that rates seem to have peaked and with long-term CD rates at many banks falling, a 5.90% 72-month CD is looking more attractive. Smaller banks and credit unions seem to react slower than the online banks, so it could give you a chance to lock in a high rate.

The bank is located in Garden City, Missouri which is about 30 miles southeast of Kansas City. There's no mention if this bank accepts out-of-state deposits. It's a small one-branch bank with only 26 employees, so it's likely to be only a local deal.

The bank has been FDIC insured since 1934. It has a safe and sound rating of 4 out of 5 stars (sound) at

Comment #1 by Banking Guy (anonymous) posted on
Banking Guy
A reader emailed me saying that she was able to open this CD by mail from out-of-state.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Below is a comment on Garden City Bank provided by ctgottapee:

it should be noted, as it is overlooked almost everywhere that some of the best bank cd rates, FDIC insured, are still offered by 'Garden City Bank' in garden city missouri. an post was made about them here a while back.

the 7yr CD is 5.75APR/5.90APY

they just updated rates Dec18 and they held firm.

the only caveat here is that they don't open accounts over the web. basically you call them, ask for Julie, and she'll send you an applicaton and a signature card that must be notarized. return with your check and your set.

very friendly bank to work with. no application, joining fees, or additional accounts required.

Comment #3 by Anonymous posted on
Per phone call to them today (01-04-07), they have halted accepting out-of-state CDs.

Comment #4 by Anonymous posted on
Beware any transaction with this bank. There are now 31 known cases of current and former customer reports to the FDIC concerning the bookkeeping, privacy concerns and predatory lending practices.