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5.25% 48-Month CD and 4.75% Money Market Promo at National City


Update 1/1/08: This CD special has ended.

National City is offering a special 5.25% APY 48-month certificate of deposit. The minimum deposit is $10,000, and the maximum is $250,000 per household. It requires you have or open a National City money market savings account with a minimum deposit of $1,500. It's also available as an IRA CD. The CD is scheduled to last until 12/24/07.

This CD promotion doesn't seem to be listed at their website. It was advertised in today's Fort Wayne Indiana newspaper. A reader also mentioned this being advertised in the Orlando Sentinel.

The other offer being advertised is a money market savings account with a yield of 4.75% APY for minimum balances of $5,000 guaranteed for the first 180 days. This requires that you have or open a personal checking account (excluding Free Checking) with a minimum of $1,500. The money market savings account must be opened by 1/05/08. This promotion is listed at nationalcity.com/save in addition to the ad above. This promo webpage has the small print for the CD, but the 5.25% CD isn't shown.

The current standard rate on their Money Market Savings account is 3.28% for balances over $25K and only 1.00% for balances between $10K and $25K. The checking account requirement also hurts this deal. The interest checking accounts have at least a $10/month fee unless a minimum is maintained.

According to the ad, these offers are only for consumer accounts opened in National City locations in Indiana, Illinois, Kentucky, Michigan, Missouri, Ohio and Pennsylvania. It may also be available in Central Florida.

National City has been FDIC insured since 1934.

Related Pages: CD rates, IRA rates

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