Sunstate Bank (FL) Raises Promotional CD Rates


Deal Summary: Promotional CDs – 7-month (1.58% APY), 1-year (1.76% APY), 13-month (1.78% APY), $2.5k minimum deposit.

Availability: Market area is South Florida.

Last week, Sunstate Bank raised the rates on its Promotional CDs, with the shorter terms having the most competitive rates. The minimum deposit is $2.5k, with no stated balance cap.

1.78%$2,500-Sunstate Bank13 Month Promotional CD
1.76%$2,500-Sunstate Bank1 Year Promotional CD
1.58%$2,500-Sunstate Bank7 Month Promotional CD
Accounts mentioned in this post. Rates as of January 21, 2018.

The Promotional CDs were added to the product line three months ago, with rates that weren’t that impressive. These recent rate increases (between 23 and 65 bps) have transformed fairly ordinary CDs into ones that merit a second look.

According to CSR, the Early Withdrawal Penalty for CDs with terms of 1 year or less is 1 month, and 3 months for terms greater than 1 year.


Headquartered in Miami, Sunstate Bank’s primary market area is South Florida, but its online application accepts Florida Zip Codes as far north as Wellington.

Opening a Promotional CD can be done online, or at either of the two South Florida branches located in Coral Gables and Miami.

In addition to offering domestic accounts, Sunstate Bank also has an International Premier Banking division to accommodate foreign depositors.

Bank Overview

Sunstate Bank has an overall health grade of "A" at, with a Texas Ratio of 5.67% (excellent) based on September 30, 2017 data. In the past year, Sunstate Bank has increased its total non-brokered deposits by $42.63 million, an excellent annual growth rate of 31.02%. Please refer to our financial overview of Sunstate Bank (FDIC Certificate # 34643) for more details.

Sunstate Bank was established in 1999 as the Sofisa Bank Florida, a sister bank of the Brazil-based Banco Sofisa. The Bank re-branded in 2007 in an effort to, "reinforce our commitment to the communities we serve, and with a unique experience – namely ‘State of the Art’ banking." Sunstate Bank is currently Florida’s 89th largest bank, with more than $210 in assets.

How the CDs Compare

When compared to the 213 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available within the Bank’s market area, Sunstate Bank's 7-month Promotional CD APY currently ranks first.

Interest RateLength of TermCredit Union/Bank
1.58% APY7-month Promotional CDSunstate Bank
1.51% APY9-month Special CDVeridian Credit Union
1.50% APY6-month CDDollarSavingsDirects

When compared to the 239 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available within the Bank’s market area, Sunstate Bank's 13-month Promotional CD APY currently ranks fourth.

Interest RateLength of TermCredit Union/Bank
2.00% APYHigh Yield 12-month CDAlly Bank
1.87% APY12-month CDUSALLIANCE Financial
1.78% APY13-month Promotional CDSunstate Bank

The above rates are accurate as of 12/27/2017.

To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table.

Related Pages: Miami CD rates, 1-year CD rates