2.50% 13-Month CD at The Palm Bank in Florida - Local Only


The Palm Bank is offering a 2.50% APY 13-month CD. Minimum deposit is $2,500, and the maximum is $90,000 (option to open multiple CDs). The bank is also offering a savings account with a 1.75% APY. These rates are listed at the bank's home page as of 8/06/09.

It appears that a branch visit is required to open an account. Branches are located in Tampa and Davis Island, Florida.

The bank's ratings for safety and soundness are a little weak: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 3/31/09 financial data. The bank has been a FDIC member since 2003 (FDIC Certificate # 57456).

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