Update 5/1/10: These hot 10-month and 17-month CDs are no longer listed at the bank's website. A new 14-month CD special is listed with a 1.95% APY.
North American Savings Bank is offering two very competitive CD specials: a 2.05% APY 10-month CD and a 2.65% APY 17-month CD. Minimum deposit is $1,000. These specials are listed at the bank's rates page as of 4/18/2010 These were also advertised in the 4/18/10 edition of the Kansas City Star, so hopefully these will be available for a while.
There's an online application (via andera.com), and the only restriction mentioned in the application is that you have to be at least 18 and a US citizen. However, the online application doesn't list these special CD terms as options. I've sent an email asking if these specials can be opened without a branch visit. Update 4/19/2010: I received the bank's reply to my email. It appears to be a nationwide deal. Here's their reply:
You are able to open the promotional CD's online. However, because we do not have an easy way to add these promotional rates to our website, we would ask that you select the 12 month CD and then call us at 816.316.4000, option 3, or email us and let us know which CD term you would like to open. We can change the term from the 12 months to whichever term you would like in our system prior to completing the CD opening process.
The bank's regular CD rates are fairly competitive. The best one as of 4/18/2010 is a 2.05% APY 24-month CD. You can also open the E-Checking online which could be handy for when the CD matures.
Branches are located in the Kansas City metro area.
The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1940 (FDIC Certificate # 29708).
Best CD Rates
How do these CD rates compare to other top rates? As a comparison, Bankrate's top nationwide 9-month CD rate as of 4/18/10 is 1.41% APY, and its best 18-month CD rate is only 1.79%. And the banks offering these are 1-star banks.
You can find higher CD rates available nationwide in the CD rates section of DepositAccounts.com.