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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5.65% 6-Month / 5.65% 12-Month CD at a Georgia Bank (Alpha)
Update 10/24/08: The bank has been closed. Please refer to this post for details.

Alpha Bank and Trust is still offering some competitive certificate rates although they're not the 6% that they were offering last December. The current best rate is 5.65% APY for the 6 and 12 month terms. Longer terms have a yield of 5.50% APY. IRA rates are a little higher with the 12-month CD at 5.71% APY and the longer term CDs at 5.55% APY. These have a minimum deposit of $500. I also noticed they have...

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6.00% 6-Month / 5.75% 12-Month CD at a Georgia Bank (Alpha)
Update 10/24/08: The bank has been closed. Please refer to this post for details.

Alpha Bank & Trust is offering a 6.00% APY 6-month and a 5.75% APY 12-month certificate of deposit. These rates require that you open a new checking account with direct deposit. Without this the yield is 5.75% APY for the 6-month CD and 5.65% APY for the 12-month. All longer term CDs have a competitive yield of 5.50% APY. The CDs have a minimum deposit of $1,000. IRA CDs are also available with a minimum deposit of...

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6.00% 6-Month / 5.75% 12-Month CD at a Georgia Bank Continues (Alpha).
Update 10/24/08: The bank has been closed. Please refer to this post for details.

Update 9/22/07: CD rates have gone down. Please check bank's website for latest rates.

Alpha Bank & Trust continues to offer a 6.00% APY 6-month and a 5.75% APY 12-month certificate of deposit. These rates require that you open a new checking account with direct deposit. Without this the yield is 5.75% APY for the 6-month CD and 5.65% APY for the 12-month. All longer term CDs have a competitive yield of 5.50% APY. The CDs have a...



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6.10% 6-Month / 5.75% 12-Month CD at a Georgia Bank (Alpha).
Update 10/24/08: The bank has been closed. Please refer to this post for details.

Update 9/22/07: CD rates have gone down. Please check bank's website for latest rates.

Alpha Bank & Trust bumped up the CD rate on its 6-month special to 6.10% APY. This rate requires that you open a new checking account with direct deposit. Without this the yield is 5.85% APY. Other competitive rates include 5.75% APY for a 12-month CD and 5.50% APY on all longer term CDs. The minimum deposit is $1,000. IRA CD yields range from...



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5.25% 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.

Alpha Bank & Trust is offering a special 5.25% APY 9-month CD. The minimum deposit is $1,000. It's also available on IRAs. The special is listed in their pdf 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.

Last year the bank was offering many certificate specials with yields over 6%.

Branches are located in Alpharetta and Marietta, Georgia which are in...







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