2.50% 12-Month CD at Bank 1440 in Arizona - Local Only

Bank 1440 is offering a special 12-month CD with a 2.50% APY. Minimum deposit is $5,000. Early withdrawal penalty is 90 days of interest. This CD special is listed on the bottom right of the bank's home page as of 6/08/09. The offer is scheduled to last through 6/30/09.

The bank also has a good deal on a reward checking account with a 5.01% APY on balances up to $25K as of 6/08/09. The rate has remained the same since March.

A branch visit appears to be required to open accounts. Branches are located in Phoenix and Peoria, Arizona.

It's a new bank that was established in June 2007. Since it's new, it doesn't have a rating at BauerFinancial. It has a 3-star rating (performing) at Bankrate.com based on 12/31/08 data. The bank is a member FDIC (FDIC Certificate # 58460).

If you're wondering why they have the name 1440, it's the number of minutes in a day (24 x 60).

Other High Certificate of Deposit Rates

There are a few nationwide 12-month CDs with rates above 2.50%, but these are becoming rare.

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: Bank 1440, Arizona, CD rates