In late December, HomeBanc, N.A. (HomeBanc) added two CD Specials: 21-month CD (1.50% APY) and 31-month CD (1.85% APY). The minimum opening deposit is $10k of new money, with a balance cap of $100k.
There is a limit of one 21-month and one 31-month CD Special per household. The fine print on the Current Rates page states,
Checking account required with $1,500 minimum opening deposit.
According to a very helpful CSR, all of HomeBanc’s four checking accounts (Home Free, Classic, Prestige, and Pacesetters Club) qualify, as long as it is opened with a minimum $1,500 deposit. I asked if a new checking account was required, or would an existing HomeBanc checking account qualify. CSR stated that existing checking accounts do qualify, but must have a $1,500 minimum balance when the CD is opened.
According to CSR, the Early Withdrawal Penalty is six months interest for either CD Special.
Thanks to DA reader, blakeb, for his Forum post about Homebanc’s latest CD Specials.
Headquartered in Lake Mary, Florida, HomeBanc, N.A.’s market area is Central Florida, covering an area from Tampa/St. Petersburg to Orlando.
Opening either of the CD Specials requires an in-person visit to any of 13 Florida branches, which are located in Belleair Bluffs, Clearwater, Dunedin, Kenneth City, Lake Mary, Largo, Pinellas Park, St. Petersburg, Sarasota, Seminole, Tampa (2), and Winter Park.
HomeBanc, N.A. (FDIC Certificate # 58194) has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 2.79% (excellent) based on September 30, 2016 data. In the past year, HomeBanc increased its total non-brokered deposits by $7.88 million, an above average annual growth rate of 1.03%. Please refer to our financial overview of HomeBanc, N.A. for more details.
Originally established in 2007 as the Community National Bank of the South, the Bank was rebranded as HomeBanc, N.A., less than a year later. As a subsidiary of the Tampa-based holding company, HomeBancorp, Inc., HomeBanc is currently Florida’s 24th largest bank, with assets in excess of $1 billion.
How the CD Specials Compare
When compared to 241 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available in the Bank’s market area, HomeBanc’s 31-Month CD Special APY currently shares the spot with RTN Federal Credit Union’s 37-month CD Special APY.
When compared to 240 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available in the Bank’s market area, HomeBanc’s 21-Month CD Special APY currently ranks in the top five.
The above rates are accurate as of 1/17/2017.