- 2.25% APY 6 months
- 2.75% APY 12 months
- 2.75% APY 15 months (with step-up option)
- 2.90% APY 18 months
- 3.00% APY 24 months
- 3.10% APY 30 months
- 3.25% APY 36 months
- 3.50% APY 48 months
- 3.75% APY 60 months
I've confirmed with the bank that people in any state can apply online for the CD or the savings account. According to the first page of the application, your initial deposit must be made by check. According to the CSR, the rate does not lock until they receive your check. I was told you can include a note to instruct them to call you before they open the CD to ensure you don't lock into a rate that's much lower than when you applied. At maturity, I was told you can request a wire transfer (cost is $20). There's a 10 calendar-day grace period.
Some CD details from the bank's CD page and terms and conditions include:
- For CDs that pay interest monthly or quarterly, you can choose to have it credited to your First Trade Checking, NOW or Statement Savings, or receive a check
- statements sent quarterly
- Early withdrawals penalty is 12 months interest for terms 12 months and longer (harsher than average)
The bank has some strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial (based on 12/31/08 data) and 4 stars (sound) at Bankrate.com (based on 9/30/08 data). The bank has been FDIC insured since 1987 (FDIC Certificate # 32551).
Other High Certificate of Deposit Rates
For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.