4.00% 6-Month CD & 4.15% 13-Month CD at Alliance Bank in Kentucky


Update 1/09/09 2:00pm PST: These CD specials appear to be no longer offered. They have been removed from the Specials Page.

Alliance Bank is offering two CD specials with very competitive rates. These include a 4.00% APY 6-month CD and a 4.15% APY 13-month CD. Minimum deposit is $500. These rates are listed at the bank's Specials Page as of 1/09/09. The link to this Specials Page is located at the top left of their home page. The Specials Page has a 10/20/2008 date so I hope the bank is keeping this current.

It appears that a branch visit is required to open an account. It's a small bank with one office located in Winchester, Kentucky.

Alliance Bank's ratings for soundness are weak: 1 star (troubled) at BauerFinancial and 1 star (lowest) at Bankrate. Both ratings are based on 9/30/08 data. As I recommend with any bank, it's best to keep under the FDIC coverage limits. The bank has been FDIC insured since 2003 (FDIC Certificate # 57424).

Thanks to the reader who mentioned this CD special in the finding-the-best-deals post.