Dedicated to Deposits: Deals, Data, and Discussion

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


Update 4/21/09: The CD rates have fallen. The 12-month CD rate has been reported to have fallen to 1.75% APY. Please contact Colonial Bank for the latest rates in your area.

Colonial Bank continues to offer the CD special that I first reported on two weeks ago. As of 3/23/09, the rates include 3.00% APY for 24 months and 2.75% APY for 11 months. These rates were advertised yesterday (3/22/09) in several Florida newspapers. One of those ads is available online here. I called Colonial Bank today and confirmed these also continue to apply in Texas. There are also two other CD specials: a 2.60% APY 5-month CD and a 2.80% APY 17-month CD. Minimum deposit is $500, and these CDs should also be available in an IRA. One nice thing about this CD special is that there's no checking account requirement.

These rates don't appear to be listed at Colonial Bank's website. You have to call them at 877-502-2265 for the rates in your area. A branch visit is required to open an account. In addition to Florida and Texas, they also have branches in Nevada, Georgia and Alabama.

Colonial Bank's ratings for soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 12/31/08 data) and 2 stars (below peer group) at (based on 9/30/08 data). The bank has been FDIC insured since 1934 (FDIC Certificate # 9609).

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.

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

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