3.90% 12-Month CD & 3.50% 6-Month CD at Frontier Bank in WA & OR


Update 2/12/09: The CD rates have fallen. Please check the bank's website for the latest rates.

Frontier Bank is listing a competitive CD promotion. It includes a 3.90% APY 12-month CD and a 3.50% APY 6-month CD. The 3.90% APY requires a $50,000 minimum deposit. For a $25,000 minimum, the 1-year APY is 3.80%, and for a $500 minimum, it's 3.70%. The 6-month 3.50% CD requires a $500 minimum. These rates are listed in the CD special page (pdf) that's linked on the bank's front page as of 1/22/2009. They're also listed in the bank's rate page (pdf). The 1-year CD rates are available in an IRA and are listed in the CD IRA rate table as of 1/22/2009.

It appears a branch visit is required to open accounts. Branches are located throughout Washington State including the cities of Port Angeles, Vancouver, Seattle, Redmond, Bremerton, Tacoma, Mount Vernon and Everett. There are also branches in the Oregon cities of Salem and Portland.

Frontier Bank has some fair ratings for soundness: 3 stars (adequate) at BauerFinancial and 3 stars (performing) at Bankrate.com. The bank has been FDIC insured since 1978 (FDIC Certificate # 22710).

Other High Certificate of Deposit Rates

For long-term CD deals, MBank in Oregon continues to offer 5.00% APY 60-month CD (see post). Refer to my Washington State page and my Oregon State page for the latest deals from those states. For CD rates available nationwide, please refer to my weekly rate summary. Note, rates are falling fast, so make sure you check the banks' websites for the latest rates. I'm listing the latest rate changes on a daily basis on my Daily News and Deals post.
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5.55% 8-Month / 5.55% 30-Month CD at a Missouri Bank (Bank of Washington)
Bank of Washington has a high rate of 5.55% APY on its certificate of deposit special for terms of 8, 20 and 30 months. All have a minimum deposit of $500.

Branches are located in Washington and Gray Summit, Missouri which are about 30 miles west of St. Louis. There's no mention on the website if they allow account opening by mail. So you probably have to visit a branch.

Bank of Washington is an old bank with an interesting history. It's FDIC insured (FDIC Certificate # 12627).

Thanks to the reader Don...

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5.20% 8-Month CD at a Missouri Bank
The Bank of Washington has some very nice special rate certificates. The best deal is a 5.20% APY 8-month CD. Below is the list of all of these CD specials:

Term APY
8 month 5.20%
20 month 5.25%
30 month 5.30%
36 month 5.40%

All of these CDs have a $500 minimum deposit requirement.

The bank has four branches in the Missouri cities of Washington and Gray Summit.

I found the history of the bank interesting. It first opened for business in 1877....

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