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4.10% 6-Month / 4.25% 12-Month CD at Southern Commerce Bank in Florida


Southern Commerce Bank continues to offer some attractive short-term CD rates: a 4.10% APY 6-month CD and a 4.25% APY 12-month CD. The minimum deposit is $500.

It appears a branch visit is required to open an account. Branches are located throughout Florida including the cities of Fort Pierce, Tampa, Daytona Beach, Gainesville and Jacksonville.

Financial ratings are mixed: 3.5 stars (good) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both are based on 6/30/08 data. The bank has been FDIC insured since 1987 (FDIC Certificate # 26970).

I first reported on these CDs in August. The 6-month CD continues to be the most competitive deal, and with the recent rate environment, it's hard to get a higher 6-month yield than this from nationwide deals (see my weekly rate summary).

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