2.00% 9-Month CD at Grand Bank & Trust of Florida - Local Only

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Grand Bank & Trust is offering a special 9-month CD with an APY of 2.00%. Minimum deposit is $5,000, and new funds are required. This special doesn't seem to be listed at the bank's website. It was advertised in today's (7/05/09) Treasure Coast Newspaper. The ad is available online here.

My last post on this bank was in March 2008 when it was offering a special 4% 6-month CD. It's hard to believe that a rate half that amount is now very competitive.

It appears a branch visit is required to open an account. Branches are located in the southeast Florida cities of West Palm Beach, Lantana, Palm Beach Gardens, Jupiter, Port St. Lucie, Ft. Pierce and Vero Beach. Note, not all of these branches are listed in the ad, so I recommend calling the bank to confirm this special is available at your branch.

Grand Bank & Trust has some fair ratings for safety and soundness which doesn't seem to be too common for Florida banks these days. The ratings include 3½ stars (good) at BauerFinancial (based on 3/31/09 data) and 3 stars (performing) at Bankrate.com (based on 12/31/08 data). The bank has been a FDIC member since 1999 (Certificate # 34776).

Other High Certificate of Deposit Rates
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4.00% 6-Month CD at a Florida Bank - Liquid Feature (Grand Bank & Trust)
Grand Bank & Trust is offering a special 6-month liquid CD with a yield of 4.00% APY. The minimum deposit is $10,000. It allows up to one penalty-free, in-person withdrawal per month with a minimum amount of $5,000. Early withdrawal penalty is waived after the first six days of the account term or the first six days following any partial withdrawal. A minimum $5,000 balance is necessary to maintain the account.

This special doesn't seem to be listed at the bank's website. It was advertised in today's Treasure Coast Newspaper. The...

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