Dedicated to Deposits: Deals, Data, and Discussion

5.45% 7-Month / 5.45% 11-Month CD at a Florida Bank (First Florida).

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First Florida Bank is offering a special CD with a yield of up to 5.45% APY for terms of 7 to 11 months. The minimum deposit is $15,000. The 5.45% yield is available for existing customers or those who open a checking or money market account at the time of opening the CD. Otherwise, the yield is 5.35% APY.

This special CD doesn't seem to be listed at the bank's website. A reader emailed me info on this, and I just called for additional details. The CSR said that it should be available at all of their branches. A branch visit is required. She didn't know how long this special CD would last.

Branches are located in Bonita Springs, Fort Myers, Naples, Port Charlotte, Venice and Winter Park, Florida. The bank is FDIC insured (Certificate # 35105).

First Florida Bank was recently included in TheStreet's article Six Florida Banks Depositors Should Worry About due to bad construction loans. However, being a subsidiary of Synovus Financial, a multibank holding company with $33.6 billion in assets, is mentioned as a major advantage.

The bank has a 2 out of 5 star rating (below peer group) at Bankrate.

Thanks to the reader who emailed me info on this special.
  Tags: CD rates, Florida, First Florida Bank

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