UPDATE: These CD rates ended in 2009 and are no longer available.Gateway Bank & Trust Company is offering some competitive rates on its "U Pick the Term" CD special. Rates include a 2.45% APY for terms of 6, 12 or 18 months and a 3.00% APY for terms 24 and 36 months. Minimum deposit is $2,500 with a maximum of $250,000. These rates are listed on the bank's Featured Products Page as of 4/01/09.
Since the webpage had a January date, I called and verified these rates are still available. The CSR wasn't sure how long they would last, but they should at least last through Friday (4/03/09).
A branch visit is required to open an account. Branches are located in several cities of North Carolina and Virginia including Chapel Hill, Elizabeth City, Raleigh, Plymouth, Wilimgton, Chesapeake, Norfolk, Richmond and Virginia Beach.
The bank has a history of high-rate CD specials with good deals in 2008 and 2007.
Gateway Bank's rating for safety and soundness has gone down from 3.5 stars to 3 stars (adequate) at BauerFinancial. This new rating is based on 12/31/08 financial data. The bank has been FDIC insured since 1998 (FDIC Certificate # 34861). Gateway Bank is a subsidiary of the holding company Hampton Roads Bankshares.
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.