Dedicated to Deposits: Deals, Data, and Discussion

5.15% 6-Month CD at Merrill Lynch Bank

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Merrill Lynch Bank is offering a special 5.15% APY 6-month and 3-month certificate of deposit. The minimum deposit is $25,000, and the maximum is $97,000. This promotion ends on 12/21/07.

A reader noted yesterday that this CD was listed at Bankrate with a 5.40% APY. I called Merrill Lynch today, and I was told that the 5.40% was a mistake. It should have been listed as 5.15%. The 5.15% yield isn't that great, but it may look better in December if interest rates continue to fall.

In the past, Merrill Lynch provided a promotional webpage for these CDs. I haven't been able to find one yet. The last Merrill CD promotion that I reported on was in June. At that time the CD yield was 5.40%.

The CDs are sold by Merrill Lynch and held in brokerage accounts in which standard account fees may apply. The CDs are issued by Merrill Lynch Bank USA or Merrill Lynch Bank and Trust Co.

Both Merrill Lynch Bank USA (Certificate # 27347) and Merrill Lynch Bank and Trust Co. (Certificate # 34571) are FDIC insured.

Thanks to the reader who emailed me info on this CD promotion.

  Tags: CD rates

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