3.25% 39-Month CD and Other Competitive CD Rates at Regions Bank

Update 4/21/09: The CD rates have fallen. Please check Regions Bank's website for the latest rates.

Regions Bank is offering some competitive rates on a few CD specials. The rates vary by state, so you'll have to enter your zip code at Regions CD page to see the rates available for your area. The best rates appear to be in Florida with a 2.50% APY 9-month CD and a 3.00% APY 18-month CD. The rates at other states are 0.25% lower. All states that I checked have the 3.25% APY CD for terms of 39 to 47 months. Minimum deposit is $10,000 of new funds. It also requires a Regions checking account. These rates were listed at Regions rate table as of 3/09/09.

Regions is also advertising a 2.50% 10-month No Penalty CD in St. Louis. This was advertised in yesterday's (3/08/09) St. Louis Post-Dispatch newspaper. The ad is available online here. The No Penalty feature allows you to make a one-time no-penalty withdrawal (partial or complete). This has the same $10K minimum and checking requirement as the other CDs. The ad also lists the same 3.25% APY 39-month CD special. The small print states that this 39-month CD is also available in an IRA with minimum deposit of $4,000.

When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia.

Regions Bank has fair ratings for safety and soundness: 3.5 stars (good) at BauerFinancial and 3 stars (performing) at Bankrate.com. These are based on 9/30/08 financial data. As I recommend with any bank, it's always best to stay under the FDIC limits (Regions' FDIC Certificate # 1368).

Tags: Alabama, Indiana, Louisiana, Georgia, Iowa, Arkansas, Texas, Regions Bank, Tennessee, Illinois, IH Mississippi Valley Credit Union, Kentucky, CD rates, Florida