Randolph Bank & Trust Company is offering a very competitive 3-year CD special. It's only available via an online application to residents of certain southeast states (see below). The 3-year CD has a 2.05% APY, and the minimum deposit is $5,000. This special is listed in the bank's CD page as of 8/31/2011. There's also a branch 3-year CD with a 1.85% APY with some special features and requirements. Thanks to the reader JasonLee who mentioned this deal in this forum thread.
In addition to this CD, Randolph also has good deals on its savings and checking accounts. In April I reviewed the bank's Extra-Mile Smart Online Savings account. It continues to have a 1.29% APY for balances of $50 and up (as of 8/31/2011). Please refer to my April Randolph Bank savings account review for more details.
Randoplh also has a good deal on its Extra-Mile Smart Checking account. It's a reward checking account with a 2.50% APY for balances up to $25,000 (see my Randolph Bank reward checking review).
Online Account Availability
According to Randolph Bank, these accounts can be opened online by residents of North Carolina, South Carolina, Georgia, Florida, Tennessee and Virginia. Please note that the bank has reduced availability of its Smart Checking account in 2010. When it first released the checking with a 4.75% APY, it was available nationwide. The demand was so high that the bank reduced availability to just North Carolina residents. After lowering the APY to 2.50%, it opened up the account to those other states.
Randolph Bank Overview
Randolph Bank branches are located in the North Carolina cities of Asheboro, Burlington, Randleman and Mebane.
The bank has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 39.78% (below average) based on June 2011 data. Please refer to our financial overview of Randolph Bank for more details. The bank has been a FDIC member since 1978 (FDIC Certificate # 22746).
How This CD Rate Compares
For banks that offer their CDs nationwide, the best 3-year CD rate is 1.90% APY at Airbanking. You can get higher rates at a few credit unions which allow people from any state to join. The highest 3-year CD rate is 2.08% APY at University Federal Credit Union. These rates are accurate as of 8/31/2011.
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.