3.00% 18-Month CD, 2.77% 7-Month CD and Other High Rates at SolutionsBank in Dallas and Kansas City


SolutionsBank is offering several competitive rates on its CDs and IRAs. These include 2.77% APY for 7 months, 3.00% APY for 18 months, 3.25% APY for 24 months and 3.50% APY for 36 months. Minimum deposit is $1,000. These rates are listed in the rate tables for Dallas and Kansas City on the bank's rate page as of 3/19/09.

SolutionsBank is also offering a competitive money market account called SolutionsBank Liquid Money Market Account. It offers a 3.10% APY for balances of $50K and above, 2.25% APY for balances of $25K to $50K and 2.20% APY for balances of $10K to $25K. The rate is guaranteed until April 15, 2009 (I wished I had noticed this earlier). Minimum deposit is $50K.

For smaller balances, SolutionsBank has a reward checking account that currently pays 4.13% APY on balances up to $50K (see post).

It appears a branch visit is required to open an account. Branches are located in the Kansas City metro area and in Plano, Texas.

SolutionsBank has fair ratings for safety and soundness: 3 stars (adequate) at BauerFinancial (based on 12/31/08 data) and 3 stars (performing) at Bankrate.com) (based on 9/30/08 data). The bank has been FDIC insured since 1934 (FDIC Certificate # 4731).

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.
5.59% 9-Month / 5.59% 12-Month CD at a Kansas/Missouri Bank (SolutionsBank)
SolutionsBank is offering a special 5.59% APY certificate of deposit with terms of 9, 10, 11 and 12 months. The minimum deposit is $10,000. It doesn't seem to be listed at the bank's website. A reader emailed me info on this based on an ad on page D5 of Sunday's Kansas City Star paper. I just called their Overland Park branch (913-851-1000) for further information. No checking account is required. A branch visit is required at one of their Kansas City metro area branches.

The bank is FDIC insured (FDIC Certificate...

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