Dedicated to Deposits: Deals, Data, and Discussion

6.00% 18-Month CD at a Minnesota Bank - IRA (Park State)

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Park State Bank is offering a 6.00% APY 18-month fixed-rate IRA certificate. The minimum deposit is $1,000. There's also an 18-month variable IRA CD which has a current rate of 6.25% and an APY of 6.40%. The rate is 2% below the Prime rate. This has a minimum of $100.

I was told that they can offer these IRA CDs by mail and to those outside of Minnesota. Please note that small banks often change this policy. The bank has two branches located in Duluth, MN. When I called to ask about this IRA I was referred to the Lincoln Park branch which has the phone number of 218-722-3500.

The bank is FDIC insured. Its Bankrate.com safe and sound rating is 4 out of 5 stars (sound).


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