Update 2012: As with CD rates as a whole, Regal Bank’s CD rates have dropped significantly over the last few years. They offer three “CD specials” currently which boasts the best rates. They have an 11 month CD yielding 1.0% APY, a 30 month CD yielding 1.30% APY and a promotional 60 month CD yielding 1.80% APY. All of Regal Financial Bank’s deposits come with a minimum deposit requirement of $1,000.
- Offer from Archive -
Regal Financial Bank of Seattle, Washington currently has an MVP 12 month CD special going on through March 15, 2009. The 12 month MVP certificate of deposit comes with an impressive 4.00% APY!
I’ve attempted to contact a representative from this bank to see if there are any geographical restrictions. I will post the results when I hear back.
Despite being somewhat of a boutique-ish bank, Regal Bank still provides deposits to everyday consumers and they are known for frequently offering CD rate “specials” or promotions which usually provide well above average annual percentage yields accompanied with oddball maturity dates.
According to BankRate’s chart of highest yielding certificates of deposit with 12 month maturities, the highest APY is offered through FlagStar Bank. Their 12 month CD has a 2.97% APY, making this MVP 12 month CD extremely attractive in comparison.
The 4.0% APY is good for all balances between $2,500 and $250,000 – essentially making this CD a jumbo certificate of deposit if you so choose.
About Regal Bank:
Regal Bank has a heavy fous on small and medium-sized business accounts but still provides online accounts to individuals in the greater Seattle area and throughout the country. Since they were established in 2002, they have grown to control just over $85 million in deposits while servicing just over $70 million in loans. Regal bank is primarily an online bank with just 16 employees.
Regal Bank is federally insured by the Federal Deposit Insurance Corporation (FDIC numer 57236).
Contact Regal Bank:
email: info @ regalfinancialbank.com
If you have experience with opening an online CD with Regal Financial Bank, please share by leaving a comment.