Dedicated to Deposits: Deals, Data, and Discussion

4.60% 12-Month / 4.20% 8-Month CD at a Florida Bank (Freedom)

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Update 10/31/08: The bank has been closed. Please refer to this post for more details.

Freedom Bank is advertising a 4.60% APY 12-month CD and a 4.20% APY 8-month CD. The minimum deposit is $500. These special CDs don't seem to be listed at the bank's website. They were advertised in today's Bradenton Herald newspaper. The ad is available online here.

I last reported on this bank in July when it was offering 4.50% APY for the one year CD.

It appears that a branch visit is required to open accounts. Branches are located in Bradenton and Sarasota Florida.

Freedom Bank has been hurt by bad loans in this real estate slump. It has a zero-star rating (lowest) at BauerFinancial based on 3/31/08 data.

As I recommend with any banks, make sure you stay below the FDIC limits. Freedom Bank has been FDIC insured since 2005 (FDIC Certificate # 57930).

  Tags: Freedom Bank, CD rates, Florida

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