Dedicated to Deposits: Deals, Data, and Discussion

5.25% 6-Month CD at a Texas Bank - Down from 5.50% (First National Bank Southwest)

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Update 12/15/07: The 6-month CD special rate has dropped again. It's now 5.25% APY.

First National Bank Southwest lowered the yield of its 6-month CD special from 5.75% to 5.50% APY. Nevertheless, it remains very competitive. The 5.75% APY is still available for retirement accounts.

They just recently advertised this new 6-month CD rate. The ad specifically states that this offer is only available for residents of Collin, Denton and Dallas counties in Texas. The ad lists a minimum and maximum deposit of $500 and $250,000.

Another note regarding this CD special is that you may be able to receive an extra 50 basis points if you open a checking account with direct deposit. A commenter in my last post mentioned that he has received the bump after his direct deposit posted (a transfer from his Capital One Money Market Account). I wasn't able to confirm the rate bump when I called last week, so it may be something very specific to the branch.

Branches are located in the Texas cities of Plano and Frisco which are located just north of Dallas. First National Bank Southwest is part First National Bank of Omaha (the parent of FNBO Direct). First National Bank of Omaha is FDIC insured (FDIC Certificate # 5452).

Thanks to all those who commented on their experiences with this bank.
  Tags: CD rates, IRA rates, Texas

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