11 month online certificate of deposit through Franklin Synergy Bank

Here is a pretty sweet deal I just found in our inbox if you happen to be in the market for short-term high yield certificates of deposit…

Franklin Synergy Bank has a group of online bank products called their “e-products” which are available to customers nationwide. The only real noteworthy product of the bunch is their 11 month online CD (certificate of deposit). This CD is currently yielding an unheard of rate of 2.78% APY. To put this in perspective, the average rate for 12 month CD’s is currently hovering around 1.33% APY.

Customers can make deposits to their account at anytime from anywhere using what Franklin Synergy Bank refers to as a E-Deposits. Using a traditional flatbed scanner and a computer, customers can scan checks and transmit them to the F.S. bank. They claim this new service will reduce trips to the bank, speed up the processing time and give customers faster access to their money.

Franklin Synergy Bank is headquartered in Tennessee:

3301 Aspen Grove Drive
Suite 106
Franklin, TN 37067
phone: (615) 236-BANK (2265)

Irwin Union Bank - Free HDTV with 11 month CD

We just got tipped off on a very nice offer coming from Irwin Union Bank this morning by BankVibe reader Brad. After digging into this promotion a little further I have noticed that a few other blogs and financial websites are giving credit to this CD promotion as well. Here is what it involves…

From now until August 31, 2009 you can get a 22 inch HD LCD TV or an HD camcorder when you open a 11 month CD with a minimum deposit of $20,000. I have been told that this offer is available nationally but you will need to make a branch visit at some point to cash in on this sign-up bonus.

Irwin Union Bank does not offer one flat rate for this 11 month CD. You must first type in your zip code, then they will provide you with your local rate. After trying about a few dozen zip codes on the east coast, central US and west coast I found their 11 month CD rates to range between 1.75% APY and 2.60% APY.

After typing in “22 inch LCD HDTV prices” into Google I found that Amazon and Circuit City are selling it for $300.00. Remember that $300 is 1.50% of $20,000, so essentially whatever rate you receive from Irwin Union Bank add 1.50% to this rate and that is what you are basically getting.

Compare this promo rate with our list of Top CD Rates.

Terms and Conditions

• Annual Percentage Yield (APY) and offer is accurate as of 06/18/2009. The interest rate will apply only to accounts opened through this site. Rates may change.
• Sharp is a registered trademark of Sharp Corporation. FLIP™ is a trademark of Pure Digital Technologies. Inc.
• 2009 Irwin Union Bank. Member FDIC. Available for a limited time period. Restrictions apply. Rates and offer may change at any time. New money deposits only. Early withdrawal penalty on Certificate of Deposit (CD) will be an amount equal to 91 days interest on the amount withdrawn plus $500 for costs associated with the promotional gift.. The TV or camcorder gift will be provided to the client within 30 days of qualifying account opening. One gift per tax identification number. Irwin Union Bank may report to the IRS the value of any gift and any applicable taxes are the responsibility of the recipient. This promotion may be combined with other IUB deposit offers. Fees may reduce earnings. No brokered deposits. No public funds. Irwin Union Bank & Trust and Irwin Union Bank, FSB are members of the Irwin Financial Corporation family of companies.
• The minimum balance to open the Summer 11 month CD, obtain the advertised APY and receive gift is $20,000.

Connexus Credit Union’s 11 month “March Madness” CD rate

Much thanks to BankVibe reader ColoradoBuff for pointing out a pretty sweet deal going on through Connexus Credit Union. Although the ncaa tournament is coming to an end, Connexus is still offering customers it’s 11 month March Madness certificate of deposit yielding 3.0% APY. The national average for CD’s with 1 year maturities is roughly 2.0%, which makes this deal slightly “mad” indeed!

Connexus Credit Union is offering a couple noteworthy savings products. A couple weeks ago BankVibe reported on their 7 month tiered certificate of deposit program. They also have an interest checking account which is being offered at 5.15% APY!

Who can join?

Here is the best part. In our last review of Connexus Credit Union we were under the impression that there were strict eligibility requirements (mainly geographical). However, BankVibe reader ColoradoBuff claimed that he joined the association with nothing more than a phone call and a $5.00 fee! My suggestion would be to contact a representative directly if you reside outside of the midwest.

Connexus Credit Union contact info:

telephone: 715-847-4700

fax: 715-847-4747