My e-BAnC Raises Jumbo Time Deposit Rates

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Deal Summary: Jumbo Time Deposits (CDs) – 18-month, 1.45% APY; 24-month, 1.61% APY; 36-month, 1.81% APY; $100k minimum deposit

Availability: Internet bank

Since the beginning of the year, My e-BAnC by BAC Florida Bank has raised the rates on its Jumbo Time Deposits ($100k minimum) four times. This week’s increase has resulted in the highest rates ever for the 18-, 24-, and 36-month Jumbo Time Deposits

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.81%$100k-My e-BAnC by BAC Florida BankBAC Internet Time Deposit 36 Months Jumbo
1.64%$100k-My e-BAnC by BAC Florida BankBAC Internet Time Deposit 24 Months Jumbo
1.45%$100k-My e-BAnC by BAC Florida BankBAC Internet Time Deposit 18 Months Jumbo
Accounts mentioned in this post. Rates as of April 24, 2017.

According to CSR, the Early Withdrawal Penalty for the 18- and 24-month Jumbo Time Deposits is 180 days interest, and 270 days for the 36-month Jumbo Time Deposit.

Super Saver

My e-BAnC by BAC Florida Bank also introduced its new Super Saver (1.11% APY) in February. As I noted in my earlier blog post about the Super Saver, the account’s name suggests a savings account, but it seems more like a Money Market Account, as it offers limited checking writing (six per statement cycle). The rate is quite competitive, and the lack of monthly fees or minimum balance required to earn the stated APY only adds to its appeal.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.11%--My e-BAnC by BAC Florida BankSuper Saver
Accounts mentioned in this post. Rates as of April 24, 2017.

The Super Saver could be a convenient account to deposit funds from a maturing My e-BAnC by BAC Florida Bank Time Deposit. As DA reader, me1004, noted in his comments on a recent Third Federal S&L blog post, “you might find it difficult to close and get your money when it [CD] matures,” if you don’t have an exit plan in place.

Availability

Headquartered in Coral Gables' Miracle Mile area, My e-BAnC by BAC Florida Bank offers its services and extensive product line to anyone in the U.S. through its online banking platform.

My e-BAnC by BAC Florida Bank’s online application to open a Time Deposit is time sensitive, so I have not provided a direct link.

Bank Overview

My e-BAnC by BAC Florida Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 9.05% (excellent), based on December 31, 2016 data. In the past year, My e-BAnC by BAC Florida Bank has increased its total non-brokered deposits by $136.38 million, an excellent annual growth rate of 11.72%. Please refer to our financial overview of My e-BAnC by BAC Florida Bank (FDIC Certificate # 21265) for more details.

Established in 1973, My e-BAnC by BAC Florida Bank is part of The Pellas Group in Nicaragua. Located in Coral Gables, My e-BAnC BAC Florida Bank is the 16th largest bank headquartered in Florida, with assets in excess of $1.9 billion. While the majority of My e-BAnC by BAC Florida Bank’s customers live abroad (mainly in Latin America), its product line and services are available to virtually all customers in the U.S.

How the Jumbo Time Deposits Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of at least $100k and are available nationally, My e-BAnC by BAC Florida Bank’s 18-month Jumbo Time Deposit APY currently ranks third.

Interest RateCD Length of TermCredit Union/Bank
1.60% APY15-month Jumbo CD ($100k min)Veridian Credit Union
1.46% APY18-month Jumbo Online Promo CD ($100k min)M.Y. Safra Bank
1.45% APY18-month Jumbo Time Deposit ($100k min) My e-BAnC by BAC Florida Bank

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of at least $100k and are available nationally, My e-BAnC by BAC Florida Bank’s 24-month Jumbo Time Deposit APY currently ranks fourth.

Interest RateCD Length of TermCredit Union/Bank
1.71% APY29-month Jumbo CD ($100k min)Hughes Federal Credit Union
1.65% APY25-month Jumbo CD ($100k min)Veridian Credit Union
1.61% APY24-month Jumbo Time Deposit ($100k min) My e-BAnC by BAC Florida Bank

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of approximately $100k and are available nationally, My e-BAnC by BAC Florida Bank’s 36-month Jumbo Time Deposit APY currently ranks third.

Interest RateCD Length of TermCredit Union/Bank
1.96% APY36-month Jumbo Share Certificate ($95k min)Hope Federal Credit Union
1.87% APY36-month Jumbo CD ($99k min)Hughes Federal Credit Union
1.81% APY36-month Jumbo Time Deposit ($100k min) My e-BAnC by BAC Florida Bank

The above rates are accurate as of 3/31/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table or our Rates Map page.

Comments
My e-BAnC Adds Super Saver (1.11% APY) & Ups 12-Month CD Rates

Deal Summary: Super Saver, 1.11% APY, no minimum or maximum deposit; 12-month Jumbo Time Deposit, 1.36% APY, $100k minimum deposit; 12-month Time Deposit, 1.35% APY, $1.5k minimum deposit.

Availability: Internet bank

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This 12-month Internet Time Deposit (CD) is also offered as a Jumbo CD (1.17% APY) with a minimum opening deposit of $100K and no maximum balance cap. The EWP is also three months interest.

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Headquartered in Coral Gables' Miracle Mile area, BAC Florida Bank...

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