Fayetteville Bank is offering a few very competitive short- and mid-term CD rates. The most competitive rates are for terms from 6 months to 24 months. The rates as listed at the bank's rates page as of 5/13/2010 include:
- 1.76% APY 6-months (1.92% Jumbo)
- 1.92% APY 12-months (2.07% Jumbo)
- 1.97% APY 18-months (2.12% Jumbo)
- 2.07% APY 24-months (2.22% Jumbo)
Minimum deposit is $500 ($100K for the Jumbo CDs). Since the date on the rate table was old, I contacted the bank yesterday and was told these rates are up-to-date but subject to change at any time.
A branch visit is required to open an account. However, I was told they do accept customers outside their local area. The bank is located in Fayetteville and Schulenburg, Texas. These towns are located between Austin, Houston and San Antonio. Before planning a long drive, make sure you call the bank to confirm availability. Policies at small banks can often change quickly.
The bank's ratings for safety and soundness are very strong: 5 stars (superior) at BauerFinancial, 5 stars (superior) at Bankrate.com and an overall health score of 4 out of 5 at DepositAccounts.com (see our Fayetteville Bank rates and reviews page). Ratings are based on 12/31/09 financial data. The bank has been a FDIC member since 1934 (FDIC Certificate # 3195).
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