Dedicated to Deposits: Deals, Data, and Discussion

4.25% 12-Month / 5.00% 60-Month CD at a Texas Bank (Equity)

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Equity Bank is offering some attractive CD rates which range from 4.00% APY for a 6-month term to 5.00% APY for a 60-month term. The minimum deposit is $1,000. These CDs are also available in an IRA. The full list of rates are provided in the bank's CD page:

Certificate of Deposit Rates as of 8/4/2008:

TERM APY
6 month 4.00%
7 month 4.15%
12 month 4.25%
36 month 4.60%
48 month 4.75%
60 month 5.00%

In January a reader reported that he was able to open up a CD by mail last year. Applications are available here. Before mailing in the application, please confirm with the bank that these special CDs are available to those outside Dallas.

The bank has three branches in Dallas, Texas. It was established in 1981 and is FDIC insured (FDIC Certificate # 23498). Equity's star rating at Bankrate.com has gone down from 2 stars based on 12/31/07 data to 1 star (the lowest) based on 3/31/08 data. As I recommend with any bank, make sure you stay below the FDIC limits. Please refer to the following posts for more FDIC info: Facts about FDIC and NCUA and Extending FDIC and NCUA Coverage Past $100K.

Thanks to the reader who mentioned these new rates.
  Tags: CD rates, IRA rates, Texas

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