Dedicated to Deposits: Deals, Data, and Discussion

Reminder: 5.00% 48-Month CD at National City Bank - Nationwide Availability


National City Bank still has a 5% APY 48-month CD that I first reported on last Sunday. The promotional page is located at

I called today, and I was told that it's available to people in any state. I had thought it might be limited to states with National City branches as their previous promotions had been.

According to the CSR, the promotion may end at 3:00pm EST tomorrow (3/8/08). However, it may be extended. He said National City is reviewing it weekly. You can apply by phone, and they will send you a signature card which you must mail in with a check. They must receive this within a week of the application to guarantee the rate. I was told they can fax or email you the signature card.

The CD requires that you have an existing National City checking account or you must open a new checking account with a minimum opening balance of $1,500. Note, the Free checking does not qualify. So you'll have to watch out for a $10 monthly maintenance fee. Their intererst checking accounts are not too bad. Those age 50 or older can have the fee waived on the Interest Checking Plus account. Otherwise, you'll need a $1,500 minimum daily balance or maintain $15,000 minimum daily balance in any combination of deposit accounts except checking and IRA.

Some of the details of the CD include:
  • $10,000 minimum deposit
  • $500,000 maximum deposit per household
  • Availabe in an IRA
  • Early withdrawal penalty is 12 months of interest

National City Bank is FDIC insured (Certificate # 6557). The bank has a 2 out of 5 star rating (below peer group) at based on 9/30/07 data.

  Tags: CD rates, IRA rates

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Comment #1 by Anonymous posted on
Interesting, the rep I've been working with said that it IS limited to select states.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
I wonder if the promo terms had changed or if my rep was mistaken. I did notice that any zip codes seem to take you to the promo page with the 5% CD. I don't think this was the case before.

Comment #3 by Anonymous posted on
I was just at a National City Branch in IL. You can get 4.8%APY for less than $10,000.

Comment #4 by Anonymous posted on
I purchased the 48 month CD this morning. Actually it is offered for up to 54 months. This Cd will be offered thru March 15, according to the person that helped me.