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2.50% 18-Month No-Penalty CD at Darby Direct in Georiga - Local Only


Update 1/02/10: The 18-month CD rate has fallen to 1.75% APY and the online savings account rate has fallen to 1.25% APY. Please refer to the bank's website for the latest rates.

Darby Direct is offering another good online CD deal. It's a 2.50% APY 18-month CD. It's called a breakable CD since it has an option to withdraw any amount without a penalty once during the term (after 90 days from the issue date). Minimum deposit is $500, and it has no maximum deposit. This special is listed at this Darby Direct webpage as of 11/15/2009.

Darby Direct continues to offer a competitive online savings account with a rate of 1.75% APY. I first posted Darby Direct and its online savings account in April 2009 when the rate was 3.00% APY and when the deal was nationwide. In May the bank restricted accounts to Georgia residents.

In August Darby Direct was offering a no-penalty step-up 36-month CD with an average APY of 4%.

This is an online offer, but unfortunately, it's not nationwide. Darby Direct continues to offer accounts only to Georgia residents and existing customers.

Another downside is that Darby Bank & Trust Co. (the owner of Darby Direct) isn't in the best financial shape: 1 star (lowest) at Bankrate.com and 1 star (troubled) at BauerFinancial. Both ratings are based on 6/30/09 financial data. It had been 3 stars at BauerFinancial when the rating was based on 3/31/09 data.

Darby Bank & Trust Co. is a FDIC member (FDIC Certificate # 14580).

Thanks to the reader who emailed me info on this promotion.

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Anonymous   |     |   Comment #1
Savings account rate is now not at the top. And the rating is 1 star now, so that could be a red flag. Glad that they rejected my online account earlier.