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2.85% 25-Month CD at First National Bank in Texas - Local Only


First National Bank is offering a competitive 25-month CD special with a top rate of 2.85% APY. This requires a $100,000 minimum deposit. A lower rate of 2.78% APY is available for a $1,000 minimum deposit. This isn't listed at the bank's website. A reader emailed me news of this, and I just confirmed with one of their branch offices that the rate is still available as of 7/30/09. The CSR didn't know how much longer it would last. I was told the early withdrawal penalty is 180 days of interest, and it is not available in an IRA.

A branch visit is required to open an account. This special CD appears to be available at all of their branches, but I recommend calling your local branch to confirm. Branches are located in several Texas cities including Dallas, Fort Worth, Houston, Austin, El Paso, San Antonio, Corpus Christi, Laredo and Edinburg.

The bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 3/31/09 financial data. The bank has been a FDIC member since 1934 (FDIC Certificate # 14318).

Thanks to the reader who emailed me news of this special.

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