Dedicated to Deposits: Deals, Data, and Discussion
TotalBank0.50%$1k-12 Month Total e-CD
TotalBank0.20%$1k-3 Month Total e-CD
Accounts mentioned in this post. Rates as of August 20, 2014

Competitive CD Rates at TotalBank in South Florida



TotalBank has some good deals on its certificates of deposit. For long-term CDs, the best rates are the bump-up CDs. These include a 2.80% APY 5-year CD and a 2.25% APY 35-month CD. These are also available as an IRA CD. For short-term CDs, TotalBank has a promotional rate of 1.30% APY for terms of 7, 11 and 13 months. These rates are listed in the bank's rates sheet as of 11/03/2010.

As a comparison to internet banks, the best 5-year CD rate is currently 2.75% APY at Sallie Mae Bank. The best 6-month CD rate is only 1.15% APY at Bank of Internet USA.

My last review of TotalBank was in June 2009 when they were offering some competitive rates on their online CDs and savings accounts (e-CDs and the e-Savings). These rates have gone down quite a bit. However, the e-CD rates are still fairly competitive ranging from 0.85% APY for 3 months to 1.25% APY for 12 months (I'm afraid in today's world these rates are fairly competitive). Based on TotalBank's documentation from last year, the early withdrawal penalty for CD terms over 6 months is harsh: "equal the interest of half of the term for the amount withdrawn".

Last year the bank was allowing out-of-state people to apply for the online CDs, but based on readers' reports, it's probably not worth it. For the bump-up and promotional CDs, a branch visit is probably required. Branches are located throughout Miami-Dade County.

The bank's overall health score at is 5 out of 5 with a Texas Ratio of 8.83% (excellent) based on 6/30/2010 data. It's a sizable bank with $1.97 billion in assets. Please refer to our financial overview of TotalBank for more details. The bank has been a FDIC member since 1974 (FDIC Certificate # 21468).

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  Tags: TotalBank, CD rates, IRA rates, Florida

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