Competitive CD and Money Market Rates at Broward Bank of Commerce in FL - Local Only

Broward Bank of Commerce continues to offer competitive CD and IRA CD rates. The rates have held since my last post on this bank was in May. The mid-term CD rates are the best deals: 2.40% APY 3-year CD, a 2.10% APY 2-year CD, a 1.75% APY 18-month CD and a 1.50% APY 1-year CD. The short-term CD rates are also competitive: 1.25% APY for 6 months and 1.00% APY for 3 months. These rates are low, but unfortunately, it's hard to find better short-term CD rates. Minimum deposit is $1,000. These rates are listed in the bank's rate sheet as of 8/18/2010.

The bank's money market account rates are also competitive especially for very large balances. The current rate for a $100K balance is 1.40% APY. It goes up to 1.70% APY for a $1M balance. These rates are also listed in the bank's rate sheet as of 8/18/2010.

Broward Bank of Commerce is a small bank with one office located in Fort Lauderdale.

It's a new bank that was established in January 2009. It has an overall health score of 5 out of 5 at DepositAccounts.com (see our financial overview of Broward Bank of Commerce). It has been a FDIC member since it was established (FDIC Certificate # 58813).

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