Update 4/17/10: I recently checked with the bank, and according to the CSR, this CD is now only available to local residents.
Bank of Fayetteville is offering a special 15-month CD with a 2.10% APY. Minimum deposit is $500. This rate is listed at the bank's rates page as of 12/22/09. The CD also has a step-up option.
According to the bank's service rep, you can open a CD online. The "Open an Account" link is on the left sidebar of the rates page under the "Quick Links" tab. I was told once you submit the application, a new-account rep will contact you.
The bank also offers a nationwide reward checking account that currently pays 3.20% APY for balances of up to $50K. It had recently been 3.50% APY, and when I first reported on this account in February 2008, it had a 5.01% APY (see my account review).
The bank has 9 offices in Fayetteville, Farmington, Prairie Grove and West Fork, Arkansas.
The bank's ratings for safety and soundness are a little weak: 2 stars (below peer group) at Bankrate.com (based on 6/30/09 data) and 3 stars (adequate) at BauerFinancial (based on 9/30/09 data). It has been a FDIC member since (FDIC Certificate # 26975).
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com
- My weekly list of hot nationwide and local CD deals