Competitive Rates on Unlock CDs at Cadence Bank (FL, TN, ...)


Cadence Bank, N.A. is offering a special CD called the Unlock CD. It allows one penalty-free withdrawal of up to 50% of the CD principal after mid-way through the term. Minimum deposit is $10,000. Rates and terms vary by state, and are not shown on the bank's website. In Memphis, Tennessee they're advertising 3.03% APY for 18 months as of 3/25/09. The ad is available online here. In Sarasota, Florida, it's a 24-month term with a 3.15% APY. According to the CSR, this special at Sarasota is scheduled to last through April 3, 2009.

In addition to Memphis and Sarasota, Cadence Bank also has branches in Tuscaloosa, Alabama, in Blairsville, Georgia and in several cities in Mississippi. As I mentioned, each state may have different rates, so make sure to check with the branch.

Cadence Bank's ratings for safety and soundness are a little weak: 3 stars (adequate) at BauerFinancial (based on 12/31/08 data) and 2 stars (below peer group) at (based on 9/30/08 data). The bank has been FDIC insured since 1934 (FDIC Certificate # 4999).

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.
Related Pages: CD rates


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I noticed in the bank's new accounts instructions page, it states that they will open an account by mail or by wire if you live within 50 miles of one of their branches. I would recommend checking with them to ensure this special would fall...

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5.80% 9-Month CD at a Georgia Bank (Seasons Bank)
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5.60% 24-Month CD at a Georgia Bank (Open to All)
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I called and confirmed that you can open these certificates of deposit by...

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