Certificate of Deposit Specials for $10K minimum:
- 4.25% APY 13 to 18 months
- 5.00% APY 19 to 35 months
- 5.25% APY 36 to 54 months
- 4.00% APY guaranteed for 180 days on $5,000 or more of new money
These specials may not be available in all states and can vary by state. The CSR made it sound like you could apply by phone and mail even if you didn't have a National City branch nearby. I recommend calling to verify for yourself (800-622-4036). A reader mentioned in my previous post that he was required to have the signature card notarized when he opened the CD by mail.
For more details on the money market special, please refer to this post.
One important detail regarding National City long-term CDs is that the early withdrawal penalty is 12 months of interest which is more severe than the average of 6-months interest.
FDIC/POD Issue: For those who plan to use PODs to increase your FDIC coverage at National City, please refer to my Sunday post.
National City is another bank that has been hit hard by the housing slump and mortgage crisis. It's always a good idea to stay below the FDIC insurance limits (see my FDIC post for more details). National City's financials can be reviewed at this FDIC page.
Update 9/17/08: I've confirmed with a National City CSR that the above rates are still available. The promo page now states an end-date of 9/27/08.