Update 10/21/2010: The 5-year CD rate has fallen to 2.75% APY effective 10/18.
Inter National Bank is offering a very competitive 3.25% APY 5-year CD. Minimum deposit is $1,000. The other CD rates are not quite as competitive: 2.50% APY 4-year CD and 2.25% APY 3-year CD. These rates are not listed at the bank's website. A reader emailed me news of this bank, and I called today for additional details. These rates are accurate as of 10/06/2010. Rates are subject to change at any time.
According to the bank rep, these CDs have two very nice features. First, they allow unlimited add-on deposits during the term. Minimum add-on deposit must be $250. Second, the early withdrawal penalty is only 90 days of interest for terms over 1 year.
A branch visit is required to open an account. Branches are located in the Texas cities of Brownsville, Laredo, El Paso, McAllen and Weslaco.
The bank's overall health score is 3 out of 5 with a Texas Ratio of 46.82% (average) based on 6/30/2010 data. Please refer to our financial overview of Inter National Bank for more details. The bank has been a FDIC member since 1985 (FDIC Certificate # 25879).
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