1.75% 15-Month CD Special At The Farmers Bank In TN

This bank has long offered competitive CD specials. Here's the small print of the latest offer as of 9/20/2010:

Minimum balance required $1,000. APY = Annual Percentage Yield. The interest rate is 1.75%. To receive the "Special" APY and rate currently offered, interest must be automatically deposited into a Checking or Savings account. If interest is paid by check, the APY and rate for your account will be 1.70%. The 15 month CD automatically renews into a 12-month term at prevailing rates unless redeemed within 10 days of maturity. A penalty for early withdrawal. Rate effective 9-1-10. Limited time offer. No institutional investors. Rates subject to change without notice.

One reader last year reported that a branch manager allowed him to open the CD by mail. Your miles may vary.

Branches are located in the Tennessee cities of Portland, Cross Plains, Millersville, Ridgetop, Springfield, Whitehouse and Westmoreland. Millersville is about 20 miles north of Nashville.