BancorpSouth is advertising three fairly competitive special CD rates. These include a 3.00% APY 59-month CD, a 2.50% APY 39-month CD and a 2.00% APY 23-month CD. A checking account is required. Minimum deposit is $1,000. These specials don't appear to be listed at the bank's website. They were advertised in yesterday's (6/06/10) Tyler Morning Telegraph newspaper. The ad is available online here.
The small print of the ad includes important info regarding where these specials are available and how long they are scheduled to last. Excerpts of the small print are shown below:
CD offer good at BancorpSouth locations in Huntsville and Mobile/Baldwin County, AL; Fayetteville and Rogers, AR area, Destin, FL area, Baton Rouge area, Lafayette, Alexandria, LA; Springfield, O'Fallon and Clayton, MO, Lufkin, Longview and Tyler, TX only and for funds not currently on deposit at any BancorpSouth office. Minimum deposit $1,000. Maximum deposit $250,000. Not good with any other offers. [...] BancorpSouth checking account with Debit Card required. Offer good through June 30, 2010.
As noted in the small print, a checking account is required. This BancorpSouth table provides a good overview of its checking accounts. The bank does offer a free reward checking account called Performance Checking (my review).
Most of BancorpSouth branches are located in Mississippi, Alabama, Tennessee, Arkansas and Louisiana. There are also a few in East Texas, the Florida Panhandle and in the Springfield and St. Louis metro areas of Missouri.
BancorpSouth's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 3/31/10 data), 4 stars (sound) at Bankrate.com (based on 12/31/09 data) and an overall health score of 3 out of 5 at DepositAccounts (see our BancorpSouth Bank rates and reviews page). The bank has been a FDIC member since 1934 (FDIC Certificate # 11813).