Competitive 5-Year CD and IRA CD at Bay Cities Bank in Florida - Local Only

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Bay Cities Bank is offering a 3.00% APY 5-year CD. It's also available in an IRA. Minimum deposit is $1,000. This rate is listed in the bank's rates sheet as of 8/16/2010.

The bank's shorter-term CDs are not quite as competitive. The only one that's noteworthy is the bank's 36-month Triple Feature CD. At 1.75% APY, the rate is low for a 3-year CD, but it allows one rate bump-up during the term, allows additional deposits (up to 50% of the initial deposit) and it allows a one-time penalty free early withdrawal (up to 50% of the initial deposit). The 50% limit on both the add-on deposits and the early withdrawal is a major downside. The low rate may be worthwhile if it had more generous add-on and/or early withdrawal conditions.

It appears that a branch visit is required to open an account. Branches are located in the Florida cities of Tampa, St. Petersburg and Lutz.

The bank's ratings for safety and soundness have improved considerably since my last post on this bank in August 2009. At that time it had low ratings at both BauerFinancial and Bankrate. Those ratings have improved to fair (3 stars at BauerFinancial and 3 stars at Bankrate.com). The overall health score is 5 out of 5 at DepositAccounts.com (see our financial overview of Bay cities Bank). These ratings are based on 3/31/10 data. The bank has been a FDIC member since 1999 (FDIC Certificate # 35066).

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EXPIRED: 2.30% 15-Month CD & Other Competitive CD Rates at a Bay Cities Bank in Florida - Local Only

Bay Cities Bank continues to offer several competitive CD rates. Some of the most competitive as listed at the bank's rate table as of 8/17/09 include:

  • 2.25% APY 12 month
  • 2.30% APY 15 month
  • 2.35% APY 18 month
  • 2.40% APY 24 month
  • 3.00% APY 36 month
  • 3.50% APY 60 month

The minimum deposit is $1,000.

It appears that the bank requires a branch visit to open new accounts. Branches are located in the Florida cities of Tampa, Lutz and St Petersburg.

My last post on this bank was in April when the 12-month CD rate was 2.50%.

The bank's financial...





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4.04% Reward Checking Account At Progress Bank in Tampa FL
Update 8/16/09: The top rate has fallen to 4.04% APY.

Progress Bank is offering a reward checking account that pays 4.04% APY on balances up to $25,000 (1.10% for above) if the following monthly requirements are met:
  • 12 debit card purchases
  • one direct deposit or ACH
  • receive e-statements
If these are not met, the rate falls substantially. A $50 minimum initial deposit is required. There are no minimum balance requirements or monthly service charges.

The small print states that there's a one-time set up fee of $10. At least the first order of checks are free....




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2.55% 15-Month CD & Other Competitive CD Rates at a Bay Cities Bank in Florida
Bay Cities Bank has several competitive CD rates. Some of the most competitive as listed at the bank's rate table as of 4/30/09 include:
  • 2.50% APY 12 month
  • 2.55% APY 15 month
  • 2.60% APY 18 month
  • 2.85% APY 24 month
  • 3.25% APY 36 month
The minimum deposit is $1,000. These rates just dropped this morning so they should last for a little while.

It appears that the bank may require a branch visit to open new accounts. Branches are located in the Florida cities of Tampa, Lutz and St Petersburg.

My last report on this bank was in...




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5.00% 36-Month CD at a Florida Bank (Bay Cities)
Bay Cities Bank has some competitive CD rates. Some of the most competitive include:
  • 4.00% APY 6 month
  • 4.35% APY 15 month
  • 5.00% APY 36 month
  • 5.25% APY 60 month
The minimum deposit is $1,000.

It appears that the bank may require a branch visit to open new accounts. Branches are located in the Florida cities of Tampa, Lutz and St Petersburg.

The bank's financial ratings are mixed: 4 stars (excellent) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both are based on 3/31/08 data. The bank has been FDIC insured since 1999 (FDIC Certificate...




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5.50% 12-Month CD at a Florida Bank (Bay Cities)
Bay Cities Bank is offering a 5.50% APY 12-month certificate of deposit. The minimum deposit is $1,000. See rate table.

My last report on this bank was in April when they were offering 5.50% on CDs with terms of 24 month and longer. The rates on those terms are now only 5% APY and 5.25% APY for the 60-month CD.

Branches are located in Tampa, St. Petersburg and in Lutz, FL. The Bank has been FDIC insured since 1999 (FDIC Certificate # 35066).



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