2.01% Short-Term CDs at Stearns Bank in AZ & MN - Local Only

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Stearns Bank, N.A. is offering competitive rates on its short-term CDs for customers in Arizona and Minnesota. There's a 2.02% APY for a 3-month term and a 2.01% APY for terms of 5 to 9 months. Minimum deposit is $2,500. These rates are listed in the bank's rate table as of 7/27/09.

They also offer Jumbo CDs that are available nationwide, but the current rates are not competitive with rates under 1%.

Branches are located in Scottsdale, Arizona, and in the following Minnesota cities: St. Cloud, Albany, Pine City, North Branch, Holdingford and Upsala.

The bank has three different FDIC charters with different ratings for safety and soundness. All have solid ratings:
The above ratings are based on 3/31/09 financial data.

Other High Certificate of Deposit Rates

I'm sorry to have to report on 2% CDs, but for terms under one year, I'm afraid it's very competitive in today's interest rate environment. For example, the top rate at Bankrate for a 6-month CD is 1.76% APY, and for the 3-month CD the top rate is only 1.50% APY. Refer to the following links for other top CD rates:
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4.55% 9-Month CD at a Alpha Bank & Trust in Georgia
Update 10/24/08: The bank has been closed. Please refer to this post for details.

Alpha Bank & Trust continues to offer a very competitive 9-month CD special with a yield of 4.55% APY. Some of the longer term regular CDs are also competitive. There's a 4.45% APY 1-year CD and a 4.55% APY 2-year CD. These are also available in an IRA with rates that are 5 basis points higher. Please refer to the bank's rate table for more details.

No out-of-state deposits for CDs are accepted. However, a reader informed me...



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4.50% 9-Month CD at a Georgia Bank (Alpha Bank & Trust)
Update 10/24/08: The bank has been closed. Please refer to this post for details.

Update 8/23/08: The special 9-month CD has gone up to 4.50% APY. The title has been modified to reflect this change.

Alpha Bank & Trust has come out with another very competitive CD special: a 4.40% APY 9-month CD. The minimum deposit is $1,000.

No out-of-state deposits are accepted. However, a reader informed me last year that you can open the CD by phone if you live in Georgia.

My last post on this bank was in June when the...







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4.25% 9-Month / 4.40% 15-Month CD at a Georgia Bank (Alpha Bank & Trust).
Update 10/24/08: The bank has been closed. Please refer to this post for details.

Update 7/12/08: These CD specials have ended. Please check the bank's website for the latest rates.

Alpha Bank & Trust has increased the rates on its two CD specials. The new rates are 4.25% APY for a 9-month term and 4.40% APY for a 15-month term. The minimum deposit is $1,000.

These special rates are now the same as two of Wachovia's Featured CDs (see post). However, these terms are 3 months shorter which should be an advantage if...





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4.00% 9-Month CD at a Georgia Bank Continues (Alpha Bank & Trust).
Update 10/24/08: The bank has been closed. Please refer to this post for details.

Update 6/28/08: The rates have gone up! Please see this post for more details.

Alpha Bank & Trust continues to offer a special 4.00% APY 9-month CD. The minimum deposit is $1,000. The special is listed in their rate table. As I mentioned in a post from last week, the bank is also offering a 4.25% APY 15-month CD special.

No out-of-state deposits are accepted. However, a reader informed me last year that you can open the CD by...





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4.25% 15-Month CD at a Georgia Bank (Alpha Bank & Trust).
Update 10/24/08: The bank has been closed. Please refer to this post for details.

Update 6/28/08: The rates have gone up! Please see this post for more details.

Alpha Bank & Trust has started a new CD special with a yield of 4.25% APY and a term of 15 months. The minimum deposit is $1,000. The special is listed in their rate table.

No out-of-state deposits are accepted. However, a reader informed me last year that you can open the CD by phone if you live in Georgia.

The bank is still offering a...







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