A reader emailed me news of a San Francisco Chronicle ad from First Republic Bank advertising a 2% APY 2-year CD ($10K minimum). I called today for more details, and I found out that someone at the bank made a mistake. The term should have been listed as 5 years. One of the branches that I called said they would honor the ad, but just for Monday (5/19/2014). That's the Presidio branch
in San Francisco. If you're interested in a 2% 2-year CD, you may want to call a First Republic branch
near you to see if they'll honor this ad.
I remember back in the early 80's a bank made a mistake in their ad. They listed a 16% CD with a term of 10 years. It was suppose to be a much shorter term. Fortunately, they honored the ad for my parents, and this CD turned out to be a very good investment.