Flagler Bank is offering a few competitive CDs. The best one has a 2.25% APY for a 24-month term. Also competitive is the 6-month CD which has a 1.44% APY. Minimum deposit is $500, and these rates also apply to business CDs. The 2-year term is also available in an IRA. These rates are listed at the bank's rates page as of the morning of 4/07/2010.
It appears a branch visit is required to open an account. Branches are located in the South Florida cities of West Palm Beach, North Palm Beach and Fort Lauderdale.
The bank's ratings for safety and soundness are a little low: 2 stars (problematic) at BauerFinancial (based on 12/31/09 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 2000 (FDIC Certificate # 35218).
Best CD Rates
Is 1.44% APY competitive for a 6-month CD? Unfortunately, it is. The highest APY at Bankrate for a 6-month CD is only 1.29%. The top APY for a 2-year CD is 2.06%. You can find higher rates in the CD rates section of DepositAccounts.com (with New & improved format!).