I reported on one March Madness CD two weeks ago from a New York credit union. Here's another one from a Nashville bank. Civic Bank & Trust is offering a March Madness CD special with a 2.00% APY for a 2-year term. Unlike the New York CD, you can't get a higher rate by picking the right teams. The yield is fixed at 2.00% APY which is very competitive for a 2-year term. In addition, the bank allows add-on deposits to CDs anytime in multiples of $1,000. Minimum deposit is $5,000. This special CD is listed in the bank's interest rates page as of 3/18/2011.
It's not easy to find a 2.00% APY for a 2-year CD. The best nationally available 2-year CD rate is currently 1.77% APY at Self-Help Credit Union. The best rate for a bank is 1.65% APY at CNB Bank Direct.
It appears that a branch visit is required to open an account. Civic Bank & Trust has one branch at 3325 West End Avenue in Nashville, Tennessee.
Civic Bank & Trust has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 25.51% (average) based on December 2010 data. Please refer to our financial overview of Civic Bank & Trust for more details. The bank has been a FDIC member since 2005 (FDIC Certificate # 58040).
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