3.03% 18-Month CD at Meridian Bank in Arizona

Meridian Bank is offering a special Bump-Up 18-month CD with a 3.03% APY. Minimum deposit is $1,000. It provides a one-time option to bump-up to a higher rate if their CD rates increase during the term. According to the bank's promotional page, the offer ends April 17, 2009.

There are also other special CD rates listed in the bank's rate table as of 3/04/09. These include a 2.73% APY 7-month CD and a 2.88% APY 13-month CD. Minimum deposit is $5,000.

It appears a branch visit is required to open accounts. Branches are located in Phoenix and its suburbs.

Meridian Bank's ratings for soundness and safety 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 financial data. The bank has been FDIC insured since 1978 (FDIC Certificate # 22644).

Tags: Arizona, CD rates, Meridian Bank