Competitive Mid- and Long-Term CD Rates at Metro Phoenix Bank - Local Only

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Metro Phoenix Bank is offering some competitive mid- and long-term CD rates:

  • 2.52% APY 24-month CD
  • 2.78% APY 36-month CD
  • 3.03% APY 48-month CD
  • 3.54% APY 60-month CD

These rates are listed in the bank's rate sheet as of 2/09/2010. Minimum deposit is $5,000 ($2,000 for IRAs). The CD rates for terms of one year and less are not quite as competitive.

At first I thought their money market rate was also competitive with a 1.56% APY, but after a closer look, I realized this was the rate for a tier of $1M and above. Balances from $100K to $1M only receive 1.16% APY. I wonder how many people hold $1M+ in their money market accounts? If you do, you may want to consider United Central Bank (see review).

Metro Phoenix Bank is a small one-office bank located in Phoenix, Arizona.

Its ratings for safety and soundness are average: 3 stars (adequate) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 9/30/09 financial data. The bank has been a FDIC member since 2007 (FDIC Certificate # 58402).

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2.52% 12-Month CD and a Competitive Money Market Account at Metro Phoenix Bank - Local Only
Comments (1)
POSTED ON SUNDAY, JULY 19, 2009 BY KEN TUMIN
Update 7/19/09: The 12-month CD rate has fallen to 2.02% APY. Please check the bank's website for the latest rates.

Metro Phoenix Bank is offering some competitive CD and IRA rates. The best deals are a 2.52% APY 12-month CD and a 2.78% APY 24-month CD. Minimum deposit is $5,000 for a regular CD and $2,000 for an IRA CD. They also have a competitive rate on their money market account. It's a tiered rate account with a 2.53% APY for balances of $100K to $1 million. These rates are listed...

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4.06% 12-Month CD at Metro Phoenix Bank
Comments (3)
POSTED ON FRIDAY, DECEMBER 26, 2008 BY KEN TUMIN
Metro Phoenix Bank is listing some competitive CD rates. These include a 4.06% APY 12-month CD and a 4.32% APY 24-month CD. The longer term CDs have APY's of 4.37% to 4.47%. The money market account rates are also competitive with an APY of 2.53% for up to $25K, 2.78% for $25K to $100K and 3.56% for $100K to $1M. This is available for both personal and business money market accounts.

These rates are listed in the bank's rate table as of the morning of 12/26/08.

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