InsBank is advertising a few deposit specials for its 10th anniversary. The best one is money market account with a 1.40% APY that's guaranteed to last until May 31, 2011. This requires a minimum balance of $75K. The rate for balances from $10K to $75K is 1.25% APY. The other specials are for CDs and include a 1.85% APY 33-month CD, a 1.60% APY 26-month CD and a 1.35% APY 13-month CD. Minimum deposit is $10K. New money is required. These specials are listed in the bank's promotions page (pdf) as of 2/01/2011.
Compared to internet banks on 2/1/2011, you can get a promo rate of 1.51% APY for 4 months in Flagstar Direct's Express Checking. For a standard rate with no balance cap, the best rate is 1.51% APY at The Morrill and James Bank. For CDs, the best 36-month CD rate is 2.00% APY at OneWest Bank.
It appears that a branch visit is required to open an account at InsBank. It's a small bank with one office located at 2505 21st Avenue South, Suite 204, Nashville, TN 37212.
The bank has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 1.18% (excellent) based on September 2010 data. Please refer to our financial overview of InsBank for more details. The bank has been a FDIC member since 2000 (FDIC Certificate # 35521).
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.