Dedicated to Deposits: Deals, Data, and Discussion

4.50% CD with Terms From 3 to 12 Months at Gateway Bank in NC and VA

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Update 10/06/08: This CD special has ended. Please check the bank's website for the latest rates and specials.

Gateway Bank is offering a special 4.50% APY certificate of deposit with terms of 3, 6, 9 and 12 months. The minimum deposit is $2,500, and the maximum is $250K.

The bank has a history of great CD specials. In June 2007 they had a similar CD special but with a yield of 5.50%.

It appears that a branch visit may be required to open an account. Branches are located in several cities of North Carolina and Virginia including Chapel Hill, Elizabeth City, Raleigh, Plymouth, Wilimgton, Chesapeake, Norfolk, Richmond and Virginia Beach.

Gateway Bank has some decent financial ratings for soundness: 4 stars (sound) at Bankrate.com and 3.5 stars (good) at BauerFinancial. Both are based on 6/30/08 data. The bank has been FDIC insured since 1998 (FDIC Certificate # 34861).

Thanks to the reader who emailed me news of this special.

  Tags: Virginia, North Carolina, CD rates

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Comments
3 Comments.
Comment #1 by Mary (anonymous) posted on
Mary
See article - http://www.bizjournals.com/triangle/stories/2008/09/08/daily35.html

Coastal lender Gateway Bank, which has six branches in the Triangle, said Thursday that it will have to write down some of the value of its shares of mortgage lenders Fannie Mae and Freddie Mac.

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Comment #2 by Mary (anonymous) posted on
Mary
Gateway has been sold. http://callcenterinfo.tmcnet.com/news/2008/09/25/3669390.htm

1
Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Based on this press release the merger is anticipated to close in the fourth quarter of 2008.

1