5.00% 5-Month CD at a Texas Bank (American Bank of Commerce).

American Bank of Commerce is advertising a 5.00% APY 5-month certificate of deposit. The minimum deposit is $50,000, and the maximum is $500,000. New money is required. It doesn't seem to be listed at the bank's website. It was advertised in today's Dallas Morning News. The ad is available online here. The ad lists the bank's office at 4901 West Park Boulevard, Plano (469-229-4700).

Yesterday, I called one of the bank's Austin branches. The banking rep said that this is intended to be a special just for that Plano branch. However, he was willing to honor the special at his office. It does require a branch visit. So if you live near one of the branches of ABC Bank, you should give that branch a call, and make sure to reference this ad. The minimum is high, but at least there are no checking account requirements. The CSR did not know how long this special would last.

In addition to Plano, branches are located in the Texas cities of Austin, Lubbock and Wolfforth. It also has branches in the Colorado cities of Pueblo and Colorado Springs. The bank is a member FDIC (Charter # 18609).

Tags: American Bank of Commerce, CD rates, Texas