Trustco Bank is offering a special 4.25% APY 6-month CD. The minimum deposit is $500, and a checking account is required. This CD rate is only for Florida. The 6-month special rate is only 3.05% APY in the Capital region of New York and 3.90% APY in Massachusetts. Please refer to the bank's rate table for your local rates. This CD special is also available in an IRA.
The free checking account will qualify you for this special, and it does not require direct deposit. So it's not too bad of a requirement. The free checking account has a minimum $25 opening deposit, has no monthly service charge and offers free checks for life.
$75 Checking Bonus: Trustco continues to have a checking account promotion in which you can earn a $75 gas card for opening a checking account with direct deposit.
Branches are located in Florida, New York, New Jersey, Vermont and Massachusetts.
Trustco Bank has some decent financial ratings for soundness: 4 stars (sound) at Bankrate.com and 4 stars (excellent) at BauerFinancial. Both are based on 6/30/08 data. The bank has been FDIC insured since 1978 (FDIC Certificate # 31945).