3.25% 4-Year CD at BankUnited in Florida - Available Nationwide
BankUnited has recently increased its long-term CD rates. They're now quite competitive: 3.25% APY for 4 years and 3.50% APY for 5 years. These are listed at the bank's CD rates page as of 2/25/2010. Minimum deposit is $5,000, and new money is required.
The CD details are listed in the truth in savings disclosure (pdf). The early withdrawal penalty for terms over one year is 180 days of interest.
BankUnited has offered several CD deals since the new bank was established after the old BankUnited was seized by the FDIC in May 2009. I contacted the bank last September and was informed of the CD application process. As I mentioned in my September BankUnited review, BankUnited still didn't have an easy process to open and close CDs if you don't live near a branch. Refer to that post for more details. Hopefully, the new BankUnited has made improvements.
Branches are located throughout South Florida.
With BankUnited being a new bank after the May 2009 seizure, there shouldn't be any concern about another closure any time soon (but it's always wise to stay below the FDIC limit). The new BankUnited's FDIC charter was started on May 21, 2009 (FDIC Certificate # 58979).
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