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6.00% 3-Month CD at a Florida Bank - $50K Max (HomeBanc).

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Homebanc National Association
Update 6/14/08: This CD special has ended. Please check the bank's website for the latest rates and specials.

HomeBanc is offering a special 6.00% APY 3-month CD. The minimum deposit is $5,000, and the maximum deposit is $50,000. It's limited to Florida deposits only.

The bank also has some good deals on long-term CDs. The highest long-term yield is 5.00% APY for a 60-month term. These specials require a companion checking account with two of the following: $1,500 daily balance, Direct Deposit, Direct Debit, Active Online Bill Pay. Interest on certificate is paid monthly to the checking account. Minimum deposit is $5,000, and maximum is $100,000. If all requirements are not met, the yield will be adjusted to the then current rate for the entire term.

Update: A reader mentioned that they require you to come into their office to open an account.

HomeBanc's banking center is located in Lake Mary, Florida which is in the northern suburbs of Orlando.

You may have heard about HomeBanc as one of the failed mortgage lenders. As this St. Petersburg Times article describes, HomeBanc has been associated with three different companies. One filed for Chapter 11 bankruptcy protection in August 10, 2007. This one that's offering the special CD is part of CNBS Financial Group, a Tampa holding company, which has bought the HomeBanc name out of bankruptcy court in April 2008. Before April, the bank had the name Community National Bank of the South which was established with FDIC insurance in 2007. The FDIC insurance is now under HomeBanc (FDIC Certificate # 58194).
  Tags: Homebanc National Association, CD rates, Florida

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Comments
Comment #1 by Anonymous posted on
Anonymous
You have to visit their Tampa or Brandon branch to open the account. It can't be opened over the phone or by mail, and not all of their branches can open accounts.

1