Sovereign Bank (TX) has a CD promotion with three very competitive CD rates: 2.53% APY for 37 months, 2.02% APY for 27 months and 1.51% APY for 17 months. Minimum deposit is $25,000. These specials aren't listed at the bank's website. A reader emailed me news of this, and I called a couple of branches yesterday (4/26/2011). According to the bank rep, these specials are scheduled to last until June 1, 2011. These should be available at all of their Dallas-Forth Worth branches. However, they are not available at their Austin branches.
A branch visit is required to open an account. Sovereign Bank's DFW branches are located in Dallas, Forth Worth, Arlington, Irving, Richardson and Southlake.
It should be noted that this Texas Sovereign Bank has no relation to the large Sovereign Bank that's based on Boston.
Sovereign Bank Texas has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 12.43% (above average) based on December 2010 data. Please refer to our financial overview of Sovereign Bank Texas for more details. The bank has been a FDIC member since 2004 (FDIC Certificate # 57787).
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