13 month CD’s paying up to 2.50% APY
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Even though the national average for 12 month CD rates is hovering around 1.65% APY, apparently one bank is still paying up to 2.50% APY for 13 month CDs. Thanks to BankVibe reader Ian for submitting this one to us!
The Palm Bank out of Tampa, Florida claims to have a 13 month CD yielding “up to” 2.50% APY. Apparently they want you to contact them if you are interested in opening a CD account. And I’m guessing you will need to be able to deposit a large sum to earn the advertised 2.50% rate (hence “up to”), but we have not reached out to them to verify this. If you have experience with this bank and this account in particular, please let us know what “up to” is subjective to.
They also have a savings account yielding a decent 1.75% APY with a minimum deposit amount of $100.
13 month CD account terms and conditions:
- Annual Percentage Yields (APY) are accurate as of July 1, 2009.
- Rates are subject to change.
- Certificates of deposit are based on $2500 minimum deposit and the yield assumes that principal and interest remain in the account until maturity date.
- Maximum balance amount on individual CDs is $90,000 with option to open multiple CDs.
- Penalty may be imposed for early withdrawal on CDs.
- Savings accounts are based on $100 minimum deposit to open.
- Fees may reduce earnings.
- The Palm Bank reserves the right to withdraw this offer at any time.
