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Regions Bank

3.25% 42-Month CD & 2.50% 23-Month CD at Regions Bank in Several States


Regions Bank continues to offer some competitive special CD rates. The rates vary by state, so you'll have to enter your zip code at Regions CD page to see the rates available for your area. For zip codes in Texas, Florida, Georgia, North Carolina, Illinois and Indiana, the special CD rates as of 9/20/09 include:
  • 3.25% APY 42-month CD
  • 2.50% APY 23-month CD
  • 1.60% APY 10-month CD
Minimum deposit is $10,000 of new funds, and the maximum deposit is $1 million. It also requires a Regions checking account.

I last posted on these specials in July, and the 2-year CD rate has actually gone up a little.

When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.

Regions was one of the major banks that were required to raise capital based on the government's stress test last spring (see post). Regions Bank's ratings for safety and soundness continue to be a little weak: 3 stars (adequate) at BauerFinancial (based on 6/30/09 data) and 2 stars (below peer group) at Bankrate.com (based on 3/31/09 data). It has been a FDIC member since 1934 (Regions' FDIC Certificate # 1368). It's a large bank with $135 billion in assets.

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