Dedicated to Deposits: Deals, Data, and Discussion

5.60% 12-Month CD at a Florida Bank (Coral Gables)

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Bank of Coral Gables
Bank of Coral Gables is offering a 5.60% APY 12-month certificate of deposit. All other terms from 9 to 60 months have a yield of 5.50% APY. The minimum deposit is $1,000. The Jumbo 12-month CD with a $100K minimum has a 5.70% APY and the others have a 5.65% APY.

According to the customer service representative, they can open the CDs by mail. You'll need to have copies of IDs mailed in. Also, out-of-state deposits may be accepted. Please note, small banks often change this policy if there's a large demand. The bank is located in Coral Gables, Florida which is near Miami.

It's a new bank that was just established in June 2006. It's FDIC insured.

Thanks to the reader who mentioned these CD rates in the finding deals post.
  Tags: Bank of Coral Gables, CD rates

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Comments
Comment #1 by Anonymous posted on
Anonymous
The information regarding out of state deposits is not correct. The Bank is only accepting deposits from within its local market area.

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