Dedicated to Deposits: Deals, Data, and Discussion

4.05% 14-Month / 4.30% 24-Month CD at a Florida Bank (First Commercial).

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First Commercial Bank of Florida
First Commercial Bank of Florida has a CD promotion with some competitive rates. These include a 3.80% APY 7-month CD, a 4.05% APY 14-month CD and a 4.30% APY 24-month CD. The minimum deposit is $1,000, and the maximum deposit is $99K. These are not listed at the bank's website. I just called the bank for this info. This CD promotion is scheduled to end Friday, 5/23/08.

The bank seems to have similar CD promotions every Monday. Often the top rate requires that you already have a checking account. According to the CSR, this one does not have that requirement.

A branch visit is required to open the CD if you don't already have accounts at the bank. The bank has several branches in the Central Florida including the cities of Orlando, Kissimmee, Winter Park, Deltona and Lake Mary. The bank is FDIC insured (Certificate # 34965) and it still has a 4 out of 5 star rating at Bankrate.com (sound) based on 12/31/07 data.

No-Cap Reward Checking Account

The bank is still offering a high yield reward checking account that I first reported on in March 2007. The rate has fallen quite a bit since then. I was told the current yield is 3.49% APY (down from 5.64% APY). Even though the rate is not the best for reward checking accounts, there are no balance caps which limit the balance that can earn the top yield.
  Tags: First Commercial Bank of Florida, CD rates, Florida

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