Patriot State Bank is offering a 3.00% APY 5-year CD. Minimum deposit is $500. This rate isn't listed at the bank's website. A reader emailed me news of this, and I just called the bank today (10/28/2010) for more details. According to the bank rep, it should be available for a while, but there's no guarantee. She also said the early withdrawal penalty is between 3 and 6 months of interest depending on when the withdrawal is made.
I only verified this CD rate at the bank's Fuquay-Varina branch which is about 15 miles southwest of Raleigh. Other branches are located in Clayton and Clinton. A branch visit is required.
The bank's overall health score at DepositAccounts.com is 4 out of 5 with a Texas Ratio of 23.70% (above average) based on 6/30/2010 data. Please refer to our financial overview of Patriot State Bank for more details. The bank has been a FDIC member since 2006 (FDIC Certificate # 58248).
Thanks to the reader who emailed me news of this CD. If you know of a good bank deal, please consider either emailing me a message (ken at DepositAccounts.com) or posting the deal in the discussion forum. Your help is much appreciated!
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