Dedicated to Deposits: Deals, Data, and Discussion

4.70% 12-Month / 4.25% 6-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 4.70% APY 12-month CD and a 4.25% APY 6-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.

The rates of this new CD special are a little higher than what the bank was advertising in August.

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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