Southwestern National Bank is offering some competitive CD and IRA CD rates. The two best are its 12-month and 18-month IRA CDs. Rates are higher for both Jumbo CDs and for IRA CDs. Below is the list of these rates as shown in the bank's rates page as of 6/08/2010:
Term Regular CD APY Jumbo CD APY IRA CD APY 12-mo 1.40% 1.50% 1.70% 18-mo 1.50% 1.65% 1.75%
Minimum deposit is $500 for regular and IRA CDs and $99,000 for the Jumbo CDs.
It appears that a branch visit is required to open an account. Branches are located in the Texas cities of Houston, Sugar Land, Austin, Plano and Richardson.
The bank's ratings for safety and soundness are a little above average: 4 stars (excellent) at BauerFinancial, 3 stars (performing) at Bankrate.com and an overall health score of 3 out of 5 at DepositAccounts.com (see our Southwestern National Bank rates and reviews page). The bank has been a FDIC member since 1997 (FDIC Certificate # 34319).