Bank of the Ozarks is advertising two bank account specials: a 1.41% APY 9-month CD and a 1.21% APY money market account. The minimum for the CD is $5K, and money market minimum balance is $10K. These limited-time promotions don't appear to be listed at the bank's website. They were advertised in yesterday's (8/22/10) Dallas Morning News. The ad is available online here.
According to the ad, these offers are available only to those in the Dallas-Forth Worth metro area. The ad lists the Frisco branches, the Lewisville branch and the Allen branch. Bank of the Ozarks is based in Little Rock, Arkansas. Most of its branches are in Arkansas. It also has branches in Alabama, Georgia, South Carolina and North Carolina.
The bank's ratings for safety and soundness are above average: 5 stars (superior) at BauerFinancial, 4 stars (sound) at Bankrate.com and an overall health score of 3 out of 5 (see our financial overview for Bank of the Ozarks). These ratings are based on 3/31/10 financial data. The bank has been a FDIC member since 1934 (FDIC Certificate # 110).
Searching for the Best CD Rates
The above interest rates may seem low, but unfortunately in this interest rate environment, they're competitive. For a 9-month CD, the best yield available nationwide is at NewDominion Bank which is offering 1.30% APY as of 8/23/10.
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.