4.10% 7-Month CD at SunTrust Bank

SunTrust Bank is offering a special 4.10% APY 7-month CD. The minimum deposit is $10,000. A checking account is required, and the deposit is required to be new money. The website doesn't allow for a direct link. To view the special, start at SunTrust's home page and click "Enter" under Personal Finance and select "CDs" under Find a Product on the right side. This should take you to the CD page which lists the 4.10% APY 7-month CD.

I did an online chat with the CSR today. The Free Checking Account qualifies. According to the CSR, the CD and checking account can be opened via the secure online chat or by phone without having to live in one of the states where SunTrust has branches. You can fund the CD with a draft from an external checking account (assume this is ACH) or by mailing back a check with the siganture card. When I asked about the hard credit inquiry when opening a checking account and CD, I was told the following:

SunTrust requires 2 security checks prior to opening accounts. The first is TeleCheck, a reporting agency that keeps track of clients with bank account history. The second is Decision Power, a credit bureau based system used to qualify new account applications. This is not as hard of a credit inquiry as applying for a loan or credit card.

The CSR said this special rate could end at any time, but the rate would lock at the time of the application. The CSR also said the rate may vary based on your location.

The special CD is also available at SunTrust branches which are located in Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia and Washington DC.

$50 Checking Account Bonus

SunTrust has continued to extend its My Cause checking promotion which offers a $50 Gift Card for opening a new checking account. The expiration date listed as of today is 10/31/08. My last post on this bonus was in April.

SunTrust is FDIC insured (FDIC Certificate # 867). It's one of the large regional banks with $171.5 billion in assets and $120.9 billion in deposits.

Thanks to the reader who mentioned this special CD in the finding deals post.

Tags: Georgia, North Carolina, South Carolina, SunTrust Bank, Virginia, Tennessee, CD rates, Maryland, Florida