There is a decent bank deal going on through Flagstar Bank as of 12/20/2008. Apparently Flagstar is offering customers a 24 month CD with a rising rate of up to 4.50% if held until maturity. Flagstar will also allow you to make penalty-free withdraws every 6 months for those that prefer a bit of liquidity. This yield tops the current #1 cd rate for 24 month CD’s by more than 1%.

Use promotional code 24.

Additional terms and information regarding this CD rate promotion:

Stated Annual Percentage Yields (APY) are accurate as of 12/20/08. Minimum opening balance requirement is $500 and maximum deposit is $100,000. Additional deposits are allowed on the 24-month maturity date. Account fees could reduce earnings. Penalty may be imposed for early withdrawal. Withdrawals can be made at the end of each six-month interval without penalty. Intervals are based on the original account opening date. Interest is compounded and credited to your account semiannually at each six-month interval. Not available for public units. Customers must maintain their primary checking account at Flagstar Bank and conduct an average of 15 monthly transactions or at least $250 in recurring ACH transactions per month to qualify for the Loyalty Checking account rate. “Loyalty Checking account” rate offer cannot be combined with coupons or other special offers. Rate is effective for a limited time only and subject to change without notice.

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