Dedicated to Deposits: Deals, Data, and Discussion

2.01% Short-Term CDs at Stearns Bank in AZ & MN - Local Only

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Stearns Bank, N.A. is offering competitive rates on its short-term CDs for customers in Arizona and Minnesota. There's a 2.02% APY for a 3-month term and a 2.01% APY for terms of 5 to 9 months. Minimum deposit is $2,500. These rates are listed in the bank's rate table as of 7/27/09.

They also offer Jumbo CDs that are available nationwide, but the current rates are not competitive with rates under 1%.

Branches are located in Scottsdale, Arizona, and in the following Minnesota cities: St. Cloud, Albany, Pine City, North Branch, Holdingford and Upsala.

The bank has three different FDIC charters with different ratings for safety and soundness. All have solid ratings:
The above ratings are based on 3/31/09 financial data.

Other High Certificate of Deposit Rates

I'm sorry to have to report on 2% CDs, but for terms under one year, I'm afraid it's very competitive in today's interest rate environment. For example, the top rate at Bankrate for a 6-month CD is 1.76% APY, and for the 3-month CD the top rate is only 1.50% APY. Refer to the following links for other top CD rates:

  Tags: Minnesota, Arizona, CD rates

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