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3.86% 7-Month CD at a Nevada Bank - Available Online (First National Bank of Nevada).


Update 7/26/08: The bank has been closed. Please refer to this post for more details.

Update 6/21/08: This special CD has ended. Please check the bank's website for the latest rates and specials.

First National Bank of Nevada has increased the rate on its CD special by 10 basis points since my June 1st post. The special is now a 3.86% APY 7-month CD. The minimum deposit is $2,500. It's also available as an IRA CD. Please refer to their rate table (pdf) for more details.

I contacted the bank's CSR today using their online chat system. According to the CSR, people in any state can apply online at their CD page. After the application, the bank will mail you the necessary paperwork. No branch visit is required. The CD can be funded by an ACH electronic funds transfer, and according to the CSR, an ETF can be done when the CD matures to transfer the money out. The CSR said that rate changes are made each Monday, so this special CD could end at that time.

Branches are located in Las Vegas, Reno, Carson City, Laughlin and Sparks. The bank has been FDIC insured since 1987 (FDIC Certificate # 27508). It has a 2 star rating (problematic) at BauerFinancial based on 3/31/08 data.

Other High Certificate of Deposit Rates

For other high yield CDs with terms around 6 months, please refer to my latest CD rates summary. The highest rate available nationwide continues to be at Christian Community Credit Union with a 4% APY 7-month special CD. However, this credit union is not federally insured. It's only privately insured by ASI. The highest 6-month CD rate at a federally insured bank is 3.70% APY at Corus Bank.

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