Banco Popular is offering some competitive short-term CD rates: 4.11% APY for a 7-month term and 4.15% APY for a 9-month term. The minimum deposit is $1,000.
These CD specials are not listed at the bank's website. A reader mentioned seeing these advertised, and I just called for additional details. I was only able to confirm these for New York and California. The CSR said these special CDs are scheduled to end on August 14, 2008.
Branches are located in California, Florida, Illinois, New Jersey, New York and in Arlington, Texas. Rates may vary by state, so make sure to call to verify. The bank is a member FDIC (FDIC Certificate # 34967).
E-LOAN Note: E-LOAN is a subsidiary of Banco Popular, and E-LOAN savings and CD accounts are FDIC insured through Banco Popular. So deposits at E-LOAN should be considered Banco Popular deposits from an FDIC insurance point-of-view.
E-LOAN's short-term CD rates are not quite as competitive as these Banco Popular specials. E-LOAN is currently only offering a 3.76% APY 6-month CD and a 3.81% APY 9-month CD. The 12-month CD has a yield of 4.15% APY. The highest yield is a 5-year CD with an APY of 5.25% for a $100K minimum deposit (5.01% APY for a $10K minimum). For more details on E-LOAN CDs, please refer to my E-LOAN CD review.
Thanks to the reader who emailed me info on these specials.