Dedicated to Deposits: Deals, Data, and Discussion

5.23% 52-Month / 4.10% 10-Month CD at First Commercial Bank of Florida


First Commercial Bank of Florida
First Commercial Bank of Florida has another competitive CD promotion for this week. The special CDs include a 4.10% APY 10-month CD, a 4.73% APY 28-month CD and a 5.23% APY 52-month CD. An extra 10 basis points will be added for customers with a qualified checking account and direct deposit (which includes their reward checking). The minimum deposit is $1,000, and the maximum is $99,000. As is typical with this bank, the rates are not listed at the bank's website. I had to call the bank. These special CD rates are available through Friday (8/01/08).

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, Edgewood, Kissimmee, Winter Park, Deltona and Lake Mary.

Unlike many other banks offering high CD rates in Florida, First Commercial has some top ratings for its financial health: 4-star rating (sound) at and 4-star rating (excellent) at BauerFinancial. Both ratings are based on 3/31/08 data. The bank has been FDIC insured since 1999 (FDIC Certificate # 34965).

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 that the current yield is 3.49% APY (down from 5.64% APY from last year). 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. To find other reward checking accounts, please refer to my High Yield Checking website.

  Tags: First Commercial Bank of Florida, CD rates, Florida

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