Dedicated to Deposits: Deals, Data, and Discussion

2.75% 25-Month CD at Southern Bank in MO & AR

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Southern Bank
Southern Bank is offering a special 25-month CD with a 2.75% APY. Minimum deposit is $500. This special doesn't seem to be listed at the bank's website. I reader mentioned this to me, and I contacted the bank yesterday (9/29/09) for more details.

According to the CSR, the CD can be opened online and through the mail. There's an online application link located at the bank's CD page. In addition to the online application, they require copies of two forms of ID with at least one photo ID. The online application states that accounts are available only to Missouri and Arkansas residents.

Southern Bank also offers a high-yield reward checking account which pays 5.01% APY for balances up to $25,000 if the typical reward checking requirements are met (see post).

Branches are located in Missouri cities of Poplar Bluff, Dexter, Sikeston, Kennett, Doniphan, Van Buren, Qulin and Matthews, and in the Arkansas cities of Brookland, Jonesboro, Leachville and Paragould.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). The bank has been a FDIC member since 1951 (FDIC Certificate # 28332).

Other Competitive Certificate of Deposit Rates

  Tags: CD rates, Southern Bank, Missouri, Arkansas

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Comments
Comment #1 by Wondering Woman (anonymous) posted on
Wondering Woman
It's a short one page application you fill out online then they call you back and do the rest of it over the phone. The lady I spoke to was very pleasant to do business with. She guaranteed me the rate, the papers are being mailed to me to sign and I'll mail my check back with the signature sheets. I scanned and e-mailed her my drivers license and a current utility bill as I'd misplaced my ss card.

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