Dedicated to Deposits: Deals, Data, and Discussion

Update on National City's 5% CD and Latest Acquisition News


National City Bank has again extended its 5% special CD. The latest expiration date is April 26, 2008. The promotional page at lists a 4.75% APY 48-month CD and a 4.00% APY 24-month CD. Both have a $10,000 minimum deposit. There's also a 3.50% APY 12-month CD with a $2,500 minimum deposit.

National City is also advertising a 5% APY 48-month CD for those who have a National City checking account or those who open a non-interest checking account with a minimum deposit of $1,500. This doesn't seem to be listed at the promotional webpage, but it's being advertised in several newspapers around the country. Here's an ad that's available online here. Also being advertised is a 3.05% APY money market account with the rate guaranteed for 180 days for a minimum balance of $25,000.

I last posted on these CD promotions in this April 4th post where I listed other CD options that were available. I haven't checked with National City to see if all of these are still available. Please refer to that post for more details on opening these promo CDs.

National City in the News

The latest news on National City includes more acquisition rumors. Shares fell more than 5% on Friday after the Wall Street Journal reported that Bank of Nova Scotia, Canada's second-largest lender by assets, had made an offer to invest in the bank. Investors are worried that Fifth Third Bancorp and KeyCorp will pull out of the bidding for National City which will drive down the potential price. National City lost $333 million in the fourth quarter because of bad subprime mortgages. So be sure to stay below the FDIC insurance limits.

  Tags: CD rates

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Comment #1 by Anonymous posted on
They are also offering an unpublished 24 months at 4.25% with the checking acct.