3.90% 3-Month CD at Crestmark Bank - Nationally Available

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Update 9/06/08: The CD yields with terms under 270 days have gone up 5 basis points. The title has been modified to reflect this change.

Crestmark Bank is once again offering CDs with some competitive rates. The most competitive CD is a 3-month CD which has a rate of 3.85%. The other terms are also fairly competitive. These include a 3.60% 30-day CD, a 3.65% 60-day CD, a 3.90% 180-day CD, a 3.95% 270-day CD and a 4.20% CD for terms of 1 year and longer. The minimum deposit is $25,000, and the maximum is $200,000. They do not compound interest so only APR is listed.

Crestmark recently added a CD FAQ page which has many of the CD details. They also improved their CD application which used to be an Excel document. It's now a PDF document. The FAQ says you can either email, mail or fax the application. I'm not sure if email would be secure. The funds can be sent by check or wire transfer.

One nice feature noted in the FAQ is that at maturity they can wire transfer the funds at no charge. They do require you to fax in written instructions. A reader in my previous post also mentioned this:
When my Crestmark CD recently matured, the very pleasant CSR wired the funds to me free of charge. Monthly interest is paid by mailed check.

According to the FAQ, they're currently rolling out the feature to allow payment of monthly interest via ACH.

Crestmark often goes through periods in which it stops offering CDs. When you see the rate page with rates of 0%, I was told this meant that they were not accepting new funds. Hopefully, these latest rates will last for awhile. My last post on Crestmark was in July.

The bank is based in Troy, Michigan. It has been FDIC insured since 1996 (FDIC Certificate # 34353). Crestmark's financial rating at Bankrate had a big drop this year going from 4 stars based on 12/31/07 data to 1 star (lowest) based on 3/31/08 data. It still has 3.5 stars (good) at BauerFinancial based on 3/31/08 data.
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4.20% 12-Month / 4.00% 6-Month CD at Crestmark Bank - Nationally Available
Update 7/16/08: Crestmark has stopped accepting new deposits.

Crestmark Bank has once again raised its CD rates. The new rates include a 3.95% APY 3-month, 4.00% APY 6 and 9-month and 4.20% APY 12-month. All terms over one year have a yield of 4.00% APY. There's also a 30-day CD with a yield of 3.80% APY and a 60-day CD with a yield of 3.85% APY. The minimum deposit is $25,000, and the maximum is $200,000. They do not compound interest so the APY and APR are equivalent.

This is the...



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3.95% 3-Month / 4.00% 6-Month CD at Crestmark Bank

Update 7/03/08: The CD rates went up! New rates include: 3.95% APY 90-day, 4.00% APY 180-day and 270-day and 4.20% APY 365-day. The rates for terms under 90 days remain the same: 3.80% APY 30-day and 3.85% APY 60-month. The title has been modified to reflect this change.

Crestmark Bank is offering a 3.70% interest rate on all of its short-term CDs with terms from 30 days to 12 months. The longer term rates are not quite as competitive. They're only 3.45% for terms of 18 months to 5 years....

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High Yield CDs Return to Crestmark Bank - 5.60% 3-Month
Crestmark Bank has again started offering several high rates on certificates of deposit. Every few months Crestmark comes out with high yield CDs. These only last for a couple of weeks, and then they stop accepting new funds. The best deals are on the short term CDs which range from 5.45% APY for a 30-day CD to 5.65% APY for a 12-month CD. The minimum deposit is $25K, and the maximum is $200K. They do not compound interest so the APY and APR are equivalent. The full list of...
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5.50% 6-Month / 5.65% 12-Month CD at Crestmark Bank
Crestmark Bank is offering very high rates on short term CDs. These range from 5.05% APR for a 30-day CD to 5.65% APR for a 1-year CD. The minimum deposit is $25K. The maximum deposit is $200K. They do not compound interest so the APY and APR are equivalent. The full list of rates are below:

Certificate of Deposit Rates
Term Rate (APR)
30 days 5.05%
60...




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High Yield CDs at Crestmark Bank
Crestmark Bank of Troy, Michigan has high rates on all of its CDs. The 1-year CD rate is now 5.25% APR and the 180-day CD is at 5.10% APR. There's a minimum deposit of $25K and a maximum of $200K. Credit for this find goes to Victor who posted about it in the finding deals post. Below is the full list of CD rates:

Certificate of Deposit Rates
Maturity Rate (APR)
30 days...



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