For much of the last year Libertad Bank had been offering a great 18-month CD deal. That has ended, but it now has new deals that are even better, especially for those who don’t like to lock into CDs. One of the new deals is a money market account special with a 1.50% APY for balances of at least $10,000. The rate is guaranteed until 6/30/2014. New money is required, and there’s a $9.99 monthly fee for balances under $1,000. This offer is listed at the bank’s money market page as of 5/16/2013. Thanks to DA member txsaver who posted on it in the DA forum.
The 18-month CD special has been replaced with a 15-month CD special. The CD has a 1.50% APY. Minimum deposit is $1,000, and the maximum deposit is $90,000. This special is listed at the bank’s CD specials page as of 5/16/2013.
Availability - Texas Residents Only
When Libertad Bank was offering its 18-month CD special, it was just available to Texas residents. Texas customers were able to open the account using the online application, and they did not have to visit the branch. Update: I just confirmed that Libertad Bank is only opening accounts for Texas residents (just like last year). Please be aware that small banks often change their policies on account availability.
A few readers might remember Libertad Bank for its reward checking account, the Amazing Checking. Back in 2008 the bank was offering a top reward checking account that was available nationwide. It didn't last long. As I reported in 2009, the bank was forced to slash rates by the FDIC.
Libertad Bank is a small bank with one office located in Austin, Texas. It has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 3.64% based on December 2012 data. Please refer to our financial overview of Libertad Bank for more details. The bank has been a FDIC member since 2006 (FDIC Certificate # 58082).