Dedicated to Deposits: Deals, Data, and Discussion

6.00% 13-Month CD at a Colorado Bank (Bank of Choice).

POSTED ON BY

Bank of Choice
Update 9/8/07: The 6% CD has dropped back down to 5.75% APY.

Bank of Choice just increased the yield of its special 13-month CD from 5.75% to 6.00% APY. The minimum deposit is $1,000. The special 7-month CD still has the 5.45% APY. Both have an Add-On feature that allows additional deposits of $500 or more to be made during the term. There's also a 5.61% APY 6-month CD without that Add-On feature. Please refer to the CD page for more info. A link to the pdf rate table is located in this page.

Last week I had posted on this special when the 13-month CD was 5.75% APY. It's a nice surprise to see them raising it to 6%.

This seems to be a local deal that requires a branch visit. Branches are located in Northern Colorado and in the Denver Metro area. The bank has separate FDIC insurance for these two parts (FDIC Cert # 2994 and FDIC Cert # 34502).

Thanks to the reader who mentioned this new rate in my previous post on this bank.

  Tags: Bank of Choice, Colorado, CD rates

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Comments
3 Comments.
Comment #1 by Anonymous posted on
Anonymous
I did speak to an operations manager and started to get this account established by phone.

About an hour later, I got called by a senior manager who indicated that the offer was not intended for out of state, or even out of area, customers.

They were very nice to deal with, but did decline to open the account.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Banks need to do a better job on their new account policies. Ideally, these should be posted beside the rates. At the very least, all the managers and service reps should be informed about their policies.

1
Comment #3 by Anonymous posted on
Anonymous
The yield is back down to 5.75% as of Sept 5

1