Dedicated to Deposits: Deals, Data, and Discussion

5.00% 19-Month CD at National City


National City Bank continues to offer an attractive CD promotion, but it is scheduled to end on November 1st. With the PNC acquisition announcement and with the recent Fed rate cuts, these specials may not be extended as they have been in the past. More details are provided at this National City CD promotion page, but this doesn't list all of the terms. Based on my past calls, below are all the rates and terms available.

CD Specials for $10K minimum and w/Checking:
  • 4.25% APY 13 to 18 months
  • 5.00% APY 19 to 35 months
  • 5.25% APY 36 to 54 months
These have the typical National City requirement of an existing checking or savings account or a new checking (except Free checking) with a $1,500 minimum initial deposit. Without the checking account, the CD rates are 25 basis points lower. Also, the rates for a $2,500 minimum deposit are 20 basis points lower.

A reader in my previous National City post had the following comment:

I can report doing this CD via phone today with no problems. I did the 19 month 5% version with the checking account.

The guaranteed the rate for 7 days, giving me until Thursday to send them a check. Post office Priority mail (2-3 days) only costs you around $5.

So if you are thinking about this one, you have 1 day left!

If you're interested in these CDs, I recommend calling to verify for yourself (800-622-4036). A reader mentioned in my previous post that he was required to have the signature card notarized when he opened the CD by mail. It's definitely easier if you live near a branch. Branches are located in FL, IN, IL, KY, MI, MO, OH, PA and WI.

$200 Checking Account Bonus

This may also be the last day to take advantage of National City's $200 checking account bonus (see post).

With the PNC acquisition, this should greatly reduce the chance we'll see a bank failure. Before the acquisition there were concerns about National City which had been hit hard by the mortgage crisis. The PNC transaction is not anticipated to close until the end of the year. National City Bank is a member FDIC (FDIC Certificate # 6557).

  Tags: CD rates, IRA rates

Related Posts

Comment #1 by Anonymous posted on
Have to agree with Banking Guy on this one; so much so that I did this deal. However, it was a process which I began last Sunday. My account was opened today, Friday. Not sure what it will take to lock the rate for folks who take the first step today. But 5% is a very favorable APY for a 19 month CD, at least I think it is. Even this late, it would be well worth the effort to go after this deal. And you will have the backing not just of the FDIC, you will have a personal thumbs up from Hank Paulson himself if you open this account. :-)

BTW, National City paid for FedEx overnight shipping of the documents sent to me, and they included a FedEx overnight mailer for my use in sending my executed documents back to them. So they paid for the overnight shipping both ways; very generous of National City IMHO. Also their customer service was good. But, yes, you do have to have your signatures on the account opening documents notarized, unless you open in-branch of course. I did not open in-branch

Comment #2 by Anonymous posted on
I opened a 2nd and 3rd CD over the phone today with my favorite "product specialist". She said as long as my check was postmarked by tomorrow (11/1) the rate would be locked at the promo rate.

I have to also add, however, that I did not receive the kid glove (FedEx shipping) treatment experienced by the previous poster.

Comment #3 by Anonymous posted on
You must live in a National City's state to participate. If your state is not in the list, then you are not eligible for the favorable APY of 5.0%.