3.20% 24-Month CD at Park Cities Bank - Dallas Area Only

Update 4/25/09: The CD rates have fallen. Please check the bank's website for the latest rates.

Park Cities Bank is offering some attractive rates on its CDs. These include a 3.20% APY 2-year CD, a 2.85% APY 1-year CD and a 2.50% APY 6-month CD. These rates are listed at the bank's rate sheet as of 3/23/09. Minimum deposit is $1,000. The rates are also available for an IRA CD.

The bank is advertising a 3.00% APY for a 12-month CD with a minimum deposit of $10,000 and a maximum of $90,000. It also requires a new $5,000 checking account. This was published in yesterday's (3/22/09) Dallas Morning News. The ad is available online here. The advertisement lists the same 3.20% for the 24-month term, but it includes a bump-up option that allows you to bump up the rate one time during the 24-month term (a feature that is often not too useful).

The bank also has a competitive money market account with an APY of 2.27% APY for balances of $5K to $50K and 2.52% APY for balances over $50,000. These rates are listed in the rate table as of 3/23/09, and there's no guarantee how long they'll last.

It appears a branch visit is required to open an account. Branches are located in Dallas and Forth Worth, Texas.

Park Cities Bank has some decent financial ratings for soundness: 3.5 stars (good) at BauerFinancial (based on 12/31/08 data) and 3 stars (performing) at Bankrate.com (based on 9/30/08 data). The bank has been FDIC insured since 2000 (FDIC Certificate # 57057).

Tags: Park Cities Bank, CD rates, IRA rates, Texas