Axiom Bank (FL) 9-Month CD Special Has Rate-Leading APY

Now through June 15, 2023, Axiom Bank (Axiom) is offering a 9-Month CD Special with an excellent 6.00% APY. This limited-time promotion requires new money, which is defined as funds not currently on deposit in an Axiom account; brokered or institutional funds are not permitted. As stated on the Personal CD/IRA page, there is “No minimum or maximum deposit.”

According to CSR, partial withdrawals are not allowed: a 9-month CD Special would have to be closed early with a 6-month Early Withdrawal Penalty. If closed within six months of opening, the 9-month CD Special principal would be reduced.

Availability and Account Opening

Headquartered in Maitland, Florida, Axiom Bank has a brick-and-mortar presence in the central Florida counties of Manatee, Orange, Osceola, Polk, and Volusia.

Opening a CD can only be done in-branch at any of the seven full-service Florida branches located in Maitland, Palmetto, Port Orange, Saint Cloud, Winter Garden, Winter Haven, and Winter Park. Appointments are available and can be scheduled online.

Funding and Other Details

The following information was obtained from a conversation with an extremely helpful CSR.

• Funding – Cashier’s check or personal check (recommended), ACH, or wire ($15 fee).
• Ownership – Individual, joint, or trust.
• Interest – Compounded/credited monthly and can be transferred to an internal or external account.
• Maturing Funds – Cashier’s check to address on file or internal transfer to a Axiom Bank account.
• Beneficiaries – Unlimited, percentages can be assigned; Social Security numbers not required.
• Grace Period – 10 calendar days before automatic renewal as a 6-month CD.
• Credit Check – None.

Bank Overview

Axiom Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 4.17% (excellent), based on December 31, 2022 data. In the past year, Axiom Bank has increased its total non-brokered deposits by $40.38 million, an excellent annual growth rate of 8.3%. Please refer to our financial overview of Axiom Bank (FDIC Certificate # 31390) for more details.

Established in 1963 as Washington Shores Federal Savings and Loan Association (Orlando), Axiom Bank is currently the 41^st largest bank headquartered in Florida with assets in excess of $661 million and nearly 14,000 customer accounts. The road leading to the Axiom rebrand is a bit convoluted involving four other banks, acquisitions, and rebrands, culminating in 2014 when Urban Trust Bank took over seven SunTrust branches and formally changed its name to Axiom Bank.

How the 9-Month CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the market area and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the 9-Month CD Special. The following table compares the 9-Month CD Special to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.

The above information and rates are accurate as of 5/21/2023.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.