Update 1/21/2010: The special CD rates have fallen, but they remain competitive: 1.75% APY 9-month and 2.00% APY 13-month.
Commercial Bank is offering two very competitive CD rates: 2.10% APY for 9 months and 2.25% APY for 15 months. The 9-month CD is a special. Both have a $500 minimum deposit. These rates are listed in the bank's rates page as of 12/18/09. Note, on the front page they're listing the 15-month CD with a 2.15% APY. I've emailed the bank to find out which rate is correct.
The bank also offers a high-yield reward checking account with a 3.01% APY for balances up to $25K (see my review).
It appears that a branch visit is required to open an account. Branches are located in several cities in Tennessee and Kentucky. Some of the cities include Harrogate, Knoxville, Kingsport, Luttrell, Pineville, Cumberland and Barbourville.
The bank's ratings for safety and soundness are fair: 3½ stars (good) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1976 (FDIC Certificate 22354).
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com (overview of DepositAccounts.com)
- My weekly list of hot nationwide and local CD deals