Cardinal Bank is offering two competitive long-term CD and IRA CD rates: a 3.01% APY 5-year CD and a 3.11% APY 6-year CD. Minimum deposit is $1,000. These rates are listed in the bank's rate sheet as of 10/7/2010.
According to the CSR, these rates are up-to-date, but they're subject to change at any time. An extra 0.10% in the rate is applied for customers with President's Club Accounts. I was told the early withdrawal penalty is 6 months of interest.
There's an online application for accounts. However, I was told that they only accept deposits from customers who reside in their local market area (Northern Virginia, Maryland and Washington DC). Most of their branches are in Northern Virginia with one branch in DC and one in Bethesda, Maryland.
The bank's overall health score at DepositAccounts.com is 4 out of 5 with a Texas Ratio of 3.14% (excellent) based on 6/30/2010 data. Please refer to our financial overview of Cardinal Bank for more details. The bank has been a FDIC member since 1998 (FDIC Certificate # 34733).
Searching for the Best CD Rates
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.