4.00% 15-Month / 4.10% 25-Month CD at a Texas Bank (Patriot).

Update 7/12/08: These CD specials have ended. Please check with the bank for the latest rates and specials.

Patriot Bank has increased the rates on its CD promotions since my post from last month. The largest increase was on the 15-month term. The rate increased 25 basis points to 4.00% APY. The 25-month CD special is now at 4.10% APY, and there's a new 13-month CD special with a yield of 3.85% APY. The minimum deposit is $10,000, and the maximum is $100,000. Funds must be new to the bank.

They are continuing to offer a special 4.00% APY savings account. The minimum deposit is $50,000, and it requires the opening of a checking account with direct deposit and a debit card. Funds must also be new to the bank.

Based on past reports from this bank, a branch visit to open accounts is likely to be required. Branches are located in the Texas cities of Dallas, Houston, Honey Grove and Ladonia. The bank has been FDIC insured since 1934 (FDIC Certificate # 3258).

Tags: CD rates, Patriot Bank, Texas