4.35% 14-Month CD at a Northern VA Bank (Freedom Bank of Virginia)


Freedom Bank of Virginia is offering a special 4.35% APY 14-month CD. The minimum deposit is $2,500. It doesn't seem to be listed at the bank's website. A reader mentioned this yesterday in the comments, and I just called for additional details. According to the CSR, it does not require a checking account. It could end at any time, but she expected it to last at least through this week. A branch visit is required. The reader also mentioned that interest can be credited to an external account on a monthly basis.

Branches are located in Fairfax and Vienna, Virginia.

The bank has a 4-star rating (excellent) at BauerFinancial based on 3/31/08 data. It has been FDIC insured since 2001 (FDIC Certificate # 57184).

Thanks to the reader who mentioned this CD in the Finding the Best Deals post.

Other High Certificate of Deposit Rates

With several major banks offering some competitive CD specials, hopefully we'll see more CD specials from small banks like Freedom. For a 12-month term, both WaMu and Wachovia are offering a 4.25% APY. For a 7-month term, both Bank of America and Countrywide are offering a yield around 4.10% APY. For more details about these, please refer to my latest weekly summary.