2.50% 24-Month CD, 3.50% 60-Month CD & a 2% Money Market Account at Broward Bank of Commerce in FL - Local Only

Broward Bank of Commerce is offering several competitive deposit rates. The most competitive CD rates are those with terms of 2 to 5 years. These include a 2.50% APY 24-month CD, a 2.75% APY 36-month CD, a 3.00% APY 48-month CD and a 3.50% APY 60-month CD. Minimum deposit is $1,000. The CDs are also available in an IRA. These rates are listed in the bank's rates sheet as of 10/22/09.

The bank also has a competitive money market account. It's a tiered account with a 2.00% APY for balances of $10K to $500K. The rate goes up to 2.35% APY for a balance of $500K to $1 million and 2.50% APY for over $1 million. The money market is available for both personal and business accounts. These rates are listed in the bank's rates sheet as of 10/22/09.

It's a small bank with one office located in Fort Lauderdale, Florida.

The bank was just established in January 2009 so it's not yet rated for safety and soundness by either BauerFinancial or Bankrate.com. As is common with new banks, they often offer good deals to bring in deposits. The bank is a FDIC member (FDIC Certificate # 58813).

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Tags: CD rates, Broward Bank of Commerce, IRA rates, Florida