Central Bank is offering four CD specials with competitive rates. These are a 2.10% APY 59-month CD, a 1.25% APY 25-month CD, a 1.00% APY 17-month CD and a 0.85% APY 11-month CD. Minimum deposit is $1,000, and the maximum is $100,000. These special rates are listed at the bottom of the bank's Minnesota rates page as of 1/24/2012. I was told these also apply to the bank's Florida branch.
A branch visit is required to open an account. Most of Central Bank branches are located in Minnesota and Wisconsin in the Minneapolis/St. Paul metro area. There's also one branch Fort Myers.
The bank has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 33.75% (below average) based on September 2011 data. Please refer to our financial overview of Central Bank for more details. The bank has been a FDIC member since 1988 (FDIC Certificate # 27234).
How These CD Rates Compare
If you're looking for 5-year CDs in Florida, it's hard to find rates over 2.00%. If you're in Minneapolis, you're fortunate to be eligible to join Wings Financial Credit Union which is offering a 2.32% APY 5-year CD and a 1.41% APY 2-year CD. The best 5-year and 2-year CD rates that's nationally available is 2.68% APY and 1.41% APY at Melrose Credit Union. For nationally available banks, the best 5-year and 2-year CD rates are 2.15% APY at US Bank (59 months) and 1.30% APY at American Express Bank. These rates are accurate as of 1/24/2012.
Searching for Top CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.