Yesterday, I reported on some competitive rates at a Central Florida Bank. Here's one in Southeast Florida. Floridian Community Bank is offering three competitive long-term CD rates: 2.27% APY 5-year CD, 1.76% APY 4-year CD and a 1.51% APY 3-year CD. Minimum deposit is $1,000. These rates are not listed at the bank's website. A reader emailed me about this bank, and I called this morning for more details. These rates are for 9/29/2011, and they could change anytime. The CSR didn't know when they might change. The CSR also didn't know the early withdrawal penalty details. However, when I contacted the bank last year, I was told the penalty is 10 months of interest on the 5-year CD and 6 months of interest on the 3-year CD.
A branch visit is required to open an account. Floridian Community Bank branches are located in the South Florida cities of Davie, Juno Beach, Delray Beach and Wellington.
The bank's overall health score is 4 stars (out of 5) with a Texas Ratio of 25.85% (average) based on June 2011 data. Please refer to our financial overview of Floridian Community Bank for more details. The bank has been a FDIC member since 2003 (FDIC Certificate # 57382).
How These CD Rates Compare
These CD rates are comparable to the best bank CD rates that are nationally available. Some examples include a 2.20% APY 5-year CD at First Internet Bank and 1.65% APY 3-year CD at Doral Bank Direct. Higher rates are available at some all-access credit unions. The best long-term CD rates are currently available at US Senate Federal Credit Union which has recently been identified as an all-access credit union. It has a 3.33% APY 5-year CD and a 2.24% APY 3-year CD. These rates are accurate as of 9/29/2011.
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.