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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