Dedicated to Deposits: Deals, Data, and Discussion

4.14% 16-Month CD at a Florida Bank - Early Withdrawal Option (Synovus)

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Synovus Bank is offering a 4.14% APY 16-month CD special. The minimum deposit is $5,000. It's available for new personal and commercial deposits only. The CD also has an early withdrawal option which allows a one-time penalty free withdrawal of 50% of the balance after the initial 90 days of the term. This special doesn't seem to be listed at the bank's website. It was listed in today's Tampa Tribune. The ad is available online here.

It appears likely to require a branch visit. Branches are located throughout Southwest Florida including the cities of Naples, Fort Myers, Clearwater, Bradenton, Bonita Springs, Sarasota, St. Petersburg and Tampa. There's also a branch in Central Florida in the city of Winter Park.

One noteworthy feature of this bank is that it claims to provide FDIC insurance on Shared CD deposits of up to $3.6 million by structuring deposits of $100,000 in up to 36 Synovus network banks. I'm not sure if this CD special would qualify for this extra insurance. I've only found one FDIC page for Synovus. It has been FDIC insured since 1996 (Certificate # 34172).

Related Pages: CD rates, Synovus Bank, Florida

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