Dedicated to Deposits: Deals, Data, and Discussion

5.50% 7-Month CD at a Philadelphia Bank (Republic First)

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Republic Bank (Philadelphia, PA)
Republic First Bank is offering a special 5.50% APY 7-month certificate of deposit. The minimum deposit is $5,000. It requires new money. Also, a checking account with direct deposit is required during the term of the CD. They do offer a free checking account. The special is not listed at the bank's website. A reader mentioned it in the comments, and I called for additional details.

Branches are located in the Pennsylvania cities of Philadelphia, Abington, Ardmore, East Norriton and Media. According to the bank rep, they require a branch visit to open an account.

The bank still offers the Index Savings Account that I first mentioned last year. At that time it had a introductory yield of 5.32% APY. It's now a tiered rate with much lower yields. Yields range from 3% APY for balances from $1K to $20K to 3.51% APY for balances between $40K and $60K.

Republic First Bank has been FDIC insured since 1988 (FDIC Certificate # 27332).

Thanks to the reader who mentioned this special in the finding deals post.

  Tags: Republic Bank (Philadelphia, PA), Pennsylvania, CD rates

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