Dedicated to Deposits: Deals, Data, and Discussion

4.30% 15-Month / 4.00% 7-Month CD at a South Florida Bank (Premier American)

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Premier American Bank has a CD promotion with two attractive rates: 4.30% APY 15-month CD and a 4.00% APY 7-month CD. The minimum deposit is $10,000 ($5,000 for IRA's). This promotion doesn't seem to be listed at the bank's website. A reader mentioned it to me, and I just called the bank for details. According to the CSR, there is no checking account requirement. She expected these special rates to last through next week, although they could end at any time. A branch visit is required, but at least they're available at all of their branches.

My last post on this bank was in April when it was offering a 4% 8-month CD which was very competitive for that time.

Branches are located in Miami, Surside, Hialeah Gardens and Coral Gables. The bank has been FDIC insured since 2001 (FDIC Certificate # 57147). It has a 3.5-star rating (good) at BauerFinancial based on 3/31/08 data.

Thanks to the reader who emailed me the news of this CD promotion.

Other High Certificate of Deposit Rates

With several major banks offering some competitive CD specials, hopefully we'll see more CD specials from small banks like Premier American. For a 12-month term, both WaMu and Wachovia are offering a 4.25% APY. For a 7-month term, both Bank of America and Countrywide are offering a yield around 4.10% APY. For more details about these, please refer to my latest weekly summary.

  Tags: CD rates, IRA rates, Florida

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