Competitive 5-Year CD Rate at Patriot State Bank in North Carolina - Local Only


Patriot State Bank is offering a 3.00% APY 5-year CD. Minimum deposit is $500. This rate isn't listed at the bank's website. A reader emailed me news of this, and I just called the bank today (10/28/2010) for more details. According to the bank rep, it should be available for a while, but there's no guarantee. She also said the early withdrawal penalty is between 3 and 6 months of interest depending on when the withdrawal is made.

I only verified this CD rate at the bank's Fuquay-Varina branch which is about 15 miles southwest of Raleigh. Other branches are located in Clayton and Clinton. A branch visit is required.

The bank's overall health score at is 4 out of 5 with a Texas Ratio of 23.70% (above average) based on 6/30/2010 data. Please refer to our financial overview of Patriot State Bank for more details. The bank has been a FDIC member since 2006 (FDIC Certificate # 58248).

Thanks to the reader who emailed me news of this CD. If you know of a good bank deal, please consider either emailing me a message (ken at or posting the deal in the discussion forum. Your help is much appreciated!

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Anonymous   |     |   Comment #1
3% on 5 year CD? Not bad but consider the inflation rate (*) & your access to money. Do you think that the rates will go higher than 3% in five years? If not, then it's  a good deal. Don't forget to ask your banker about the penalty in case you need the money.

(*) Watch Ron Paul talking about the actual inflation in the U.S. ("Is it time to start saving or spending more?") on