Dedicated to Deposits: Deals, Data, and Discussion

3.00% 24-Month CD & 2.75% 11-Month CD at Colonial Bank (FL, TX, ...)

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Colonial Bank is offering some competitive rates on its CD specials, and unlike other banks' CD specials, Colonial doesn't require a checking account. As of 3/09/09, these special CD rates include a 2.60% APY for 6 months, 2.75% APY for 11 and 12 months, 2.80% APY for 18 months and 3.00% APY for 24 months. Minimum deposit is $500, and these are also available in an IRA. These rates don't appear to be listed at Colonial Bank's website.

These rates may vary based on your state. I saw this special advertised in a Florida newspaper yesterday (3/08/09). The ad is available here. I also called this morning (3/09/09). I was only able to confirm these rates for Texas and Florida. They also have branches in Alabama, Georgia and Nevada. If you receive confirmation on these rates in another state, please leave a comment.

A branch visit is required to open an account. 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: 2 stars (problematic) 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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Comments
4 comments.
Comment #1 by Anonymous posted on
Anonymous
But please stay away from SunTrust. They are running a criminal enterprise. They have actually stolen money from my checking account!! It is truly unbelievable.

1
Comment #2 by Anonymous posted on
Anonymous
If you insist on posting your comment about Sun Trust under an unrelated bank topic, at least explain why you feel you have been robbed.

1
Comment #3 by Anonymous posted on
Anonymous
The first poster was probably a Sun Trust fired employee with a grudge.

1
Comment #4 by Anonymous posted on
Anonymous
I'll repeat what the other posters have said. Refrain from making unsubstantiated, false statements that don't contribute to the discussion and move for deletion.

1