Dedicated to Deposits: Deals, Data, and Discussion

3.75% 17-Month CD at Colonial Bank in AL, GA, FL, TX & NV

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Colonial Bank is offering a 3.75% APY 17-month CD special. Minimum deposit is $500. No checking is required. This special is not listed at the bank's website. I just called to check the latest rates. According to the CSR, it's available at all of their branches as of 1/07/09. It just started last Friday so she expected it to last for at least a couple of weeks. But with today's rate environment, there's no guarantee. There's also a 12-month CD with an APY of 3.19%.

My last post on Colonial was last week when it was offering a special 4% APY 24-month. It appears the 17-month CD special has replaced that one. With dropping rates this 3.75% APY is now quite competitive for a 17-month term.

A branch visit is required. Branches are located in Alabama, Georgia, Florida, Texas and Nevada. A few of the major cities that have branches include Austin, Dallas, Panama City, Orlando, Fort Lauderdale, Miami, Tampa, Fort Myers, Las Vegas, Reno, Birmingham, Montgomery, Macon and Atlanta.

Colonial Bank's ratings for soundness are a little weak: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 9/30/08 data. The bank has been FDIC insured since 1934 (FDIC Certificate # 9609).

  Tags: Nevada, Alabama, Georgia, CD rates, Texas, Florida

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