Dedicated to Deposits: Deals, Data, and Discussion

4.50% 15-Month / 4.75% 27-Month CD at Omni National Bank in Texas and Illinois

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Update 3/27/09: The bank was closed by regulators. Refer to this post for more details.

Omni National Bank is offering two competitive CDs for residents of Texas and Illinois. The first is a 4.50% APY 15-month CD, and the second is a 4.75% APY 27-month CD. These rates are for new deposits in both regular CDs and IRA CDs. The minimum deposit is $5,000.

My last post on this bank was in July when it was offering a 4.25% 12-month CD.

It appears a branch visit may be required to open an account. Please check with the bank for the full details. Texas and Illinois branches are located in Dallas, Houston and Chicago. Other branches are located in Georgia, North Carolina, Alabama and Florida.

The bank's financial ratings for soundness are weak: 0 stars (lowest) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both ratings are based on 6/30/08 data. The bank has been FDIC insured since 1976 (FDIC Certificate # 22238).
  Tags: Illinois, CD rates, IRA rates, Texas

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