Best CD Rates in Orlando, FL: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Orlando, Florida. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Orlando as well as Florida, we found that for the most part, you will be able to receive slightly better rates with national institutions than with local ones.

Best CD Rates in Jacksonville, FL: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Jacksonville, Florida. The institutions we will cover all include the following cities in Florida: Lakeside, Middleburg, Fruit Cove, Palm Valley, Atlantic Beach, Fernandina Beach, Yulee, Hillard, and Kingsland. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Jacksonville as well as Florida, we found that for the most part, you will be able to receive slightly better rates with national institutions than with local ones.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Best 6 month CD rates in Jacksonville, FL:

• Southern Commerce Bank (Jacksonville branch) has a 6 month CD yielding 2.0% APY with a minimum deposit of $500 required.
• First Florida Credit Union has a 6 month CD yielding 1.55% APY with a minimum deposit of $1,000 required.
• JAX Federal Credit Union has a 6 month CD yielding 1.55% APY with a minimum deposit of $500 required.

Best 12 month CD rates in Jacksonville, FL:

• Southern Commerce Bank also has a 12 month CD yielding 2.30% APY with a minimum deposit of $500 required.
• City and Police Federal Credit Union has a 12 month CD yielding 2.0% APY with a minimum deposit of $10,000 required. 
• FirstAtlantic Bank has a 12 month CD yielding 2.0% APY with a minimum deposit of $500 required.

Best 24 month CD rates in Jacksonville, FL:

• Hudson City Savings Bank has a 24 month CD yielding 2.50% APY with a minimum deposit of $5,000 required. They are a national bank and can accept deposits nationwide.
• Atlantic Coast Bank has a 24 month CD yielding 2.40% APY with a minimum deposit of $1,000 required. 
• JAX Federal Credit Union has a 24 month CD yielding 2.40% APY with a minimum deposit of $500 required. 

Best CD Rates in Miami, Florida: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Miami, Florida. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Miami as well as the state of Florida, we found that for the most part, you will be able to receive slightly better rates with national institutions than with local ones.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Best 6 month CD rates in Miami, Florida:

• Eastern National Bank has a 6 month CD yielding 1.76% APY with a minimum deposit of $2500. They have locations in both Miami, FL and Coral Gables, FL. 
• Navy Federal Credit Union has a 6 month CD and a 9 month CD yielding 1.65% APY with a minimum deposit of $10,000. They have locations (both branch and ATM) in Miami.
• First Bank Florida has a 6 month CD yielding 1.60% APY with a minimum deposit of $1000. They have locations in both Miami and Coral Gables, FL.

Best 12 month CD rates in Miami, Florida:

• American Airlines Federal Credit Union has a 12 month CD yielding 2.12% APY with a minimum deposit of $10,000. This will be a difficult credit union to join if you do not work for the airlines company. They have locations in Miami, FL.
• 1st United Bank has a 12 month CD yielding 2.05% APY with a minimum deposit of $5000 required. They have locations in both Miami and Coral Gables, FL.
• Great Florida Bank has a 12 month CD yielding 2.01% APY with a minimum deposit of $10000 required. They also have locations in both Coral Gables and Miami, FL.

Best 24 month CD rates in Miami, Florida:

• Bank of Florida Southeast has a 24 month CD yielding 2.55% APY with a minimum deposit of $1,000 required. They have locations throughout Florida, namely Coral Gables and Miami.
• Banco Popular North America has a 24 month CD yielding 2.35% APY with only a $1.00 minimum deposit required. They have locations in Coral Gables and Miami, FL as well.
• Branch Banking and Trust Company has a 24 month CD yielding 2.25% APY with a minimum deposit of $500 required. They also have several branch locations throughout southern Florida.

Best CD Rates in Tampa, Florida: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Tampa, Florida. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Tampa as well as the state of Florida, we found that for the most part, you will be able to receive slightly better rates with local institutions than with large national banks.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Best 6 month CD rates in Tampa, Florida:

• Southern Commerce Bank has a 6 month CD yielding 2.0% APY with a minimum deposit amount of $500. This is Southern Commerce Bank’s National Association and serves the state of Florida with branch locations in Tampa. 
• USAmeriBank has a 6 month CD yielding 2.0% APY as well with a minimum deposit of $500. USAmeriBank has locations in Tampa and Brandon, Florida and serves the residents in the state of Florida. 
• Bay Cities Bank has a 6 month CD yielding 1.85% APY with a minimum deposit amount of $1,000. Bay Cities Bank is located in Tampa, Florida.

Best 12 month CD rates in Tampa, Florida:

• Southern Commerce Bank, National Association has a 12 month CD yielding 2.30% APY with a minimum deposit of $500. Southern Commerce Bank is located in the city of Tampa.
• USF Federal Credit Union has a 12 month CD yielding 2.10% APY with a minimum deposit amount of $500. USF Federal Credit Union is located in Tampa, Florida.
• Florida West Coast Credit Union has a 12 month CD yielding 2.05% APY with a minimum deposit amount of $500. Florida West Coast CU has serves residents of the state of Florida and has branch locations and/or ATM’s in Tampa and Brandon, Florida.

Best 24 month CD rates in Tampa, Florida:

• Bank of Florida – Tampa Bay has 24 month CD yielding 2.55% APY with a minimum deposit amount of only $1,000. Bank of Florida serves residents of this state and has several branch locations within Tampa. 
• Hudson City Savings Bank has a 24 month CD yielding 2.50% APY with a minimum deposit amount of $5000. Hudson City Savings Bank has online banking options as well.
• Bay Cities Bank has a 24 month CD yielding 2.40% APY with a minimum deposit amount of $1000. They are headquartered in Tampa.

Best money market account rates in Florida

BankVibe reader asks, “Who offers the highest yielding money market account in the state of Florida?”

If you are strictly after the best money market rate then you have a variety of options that will provide you with almost identical yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in this account, the higher the interest rate you will generally receive.

If you browse through our archive of money market account rates, you will see MMA’s are yielding a lot less than they were this time last year. In fact, the national average for money market rates sits at roughly 1.20% APY currently – this number was well above 3.0% APY during the summer of 2008.

Below I have listed the top 2 banks and/or credit unions serving the state of Florida which are offering the best returns on their money market accounts. Keep in mind, you may receive higher rates from larger national banks whom serve the whole country rather than a specific region. Compare money market accounts nationwide to find the optimal account for you.

Top Money Market Accounts in Florida:

Ameris Bank: Jacksonville, FL. Personal money market account with a tiered interest schedule, you’ll earn higher rates for higher account balances. Maintain a minimum daily balance of $1,000 or an average daily balance of $3,000, and they will waive the $10 monthly maintenance fee. A fee of $5 will be imposed for each transaction in excess of the limit (transfers to third parties or to another account at the same bank by pre-authorized or automatic withdrawals or telephonic agreements [to include data transmissions] or by check, draft, debit card, or similar order and payable to third parties are limited to 6 per statement cycle. Earn 2.0% APY on the highest tier.

Palm Beach Community Bank: Boynton Beach, FL. “Global Money Market Account” Designed as a tiered level interest bearing account (the higher your balance, the higher the interest rate) that allows you six transactions per month. $2,500 minimum balance required. Earn 1.85% APY on the highest tier. Palm Beach Community Bank was just set up last year (2008) by a group of local investors. They have just one location, Palm Beach, but offer a wide variety of online banking options so that you can conduct your personal banking remotely.

Both of the institutions mentioned above are federally insured by the FDIC. If you reside in the state of Florida and know of a better money market account rate offered through your local bank or credit union, please share by leaving a comment.

“Revolutionary Checking” through Patriot Bank: 4.01% APY

BankVibe reader Ryan submitted a fantastic interest checking account available to anyone in the country over the weekend. If you are looking for a place to stash a large chunk of cash (but no more than $50k) then this may be your best bet. Right now, Patriot Bank of Florida, is offering a “Revolutionary Checking” account which is providing yields of 4.01% APY to accounts with balances between $100 and $50,000. You must meet the monthly requirements though or your account will provide a much more modest 0.15% interest rate.

Benefits of “Revolutionary” Checking Account:

• 4.01% APY* on balances up to $50,000
• 1.01% APY* on balances $50,000.01 and over
• If qualifications are not met during a statement cycle, you still earn 0.15% APY* on all balances
• No service fees
• No minimum balance requirements
• ATM fee refunds up to $25 per statement cycle if qualifications are met
• FastEasy Debit Card
• Free EasyNet Online Banking
• Free Online Billpay
• Free Direct Deposit/Automatic Drafts
• $100 to open

Requirements to earn advertised interest rate:

• In order to qualify for the benefits, just meet these simple criteria each statement cycle:
• Make 10 debit transactions using your FastEasy debit card
• Sign up for e-Statements
• Arrange one automatic payment or Direct Deposit
• Access Online Banking once every statement cycle

7 month certificate of deposit through Central Bank of Florida

…Just got tipped off on a pretty decent deal coming out of Central Bank of Florida, courtesy of BankVibe reader Ryan. And after looking into their rates a little further it seems that Central Florida Bank regularly runs CD rate promotions.

The Central Bank of Florida has a few CD (certificate of deposit) “Specials” currently running, however out of the 3 they are promoting only one is accompanied with a noteworthy APY.

Their “7 Month Advantage CD” is yielding an APY of 2.50% with a minimum deposit of $5,000 as of the 15th of last month. The other “special certificate of deposit” products are a “12 month ratewatcher” and a “24 month ratewatcher” which are yielding 2.00% APY and 2.50% APY, respectively.

Central Bank of Florida Certificate of Deposits Rates:

(as seen on their rates page)

Best CD rates in Florida (Top 5)

Below are the highest yielding CD (certificate of deposit) rates offered to residents in the state of Florida. These interest rates come in the form of 5 year CD’s because longer maturities typically generate the best interest rates. If you know of a deposit rate in Florida that beats what we’ve listed here, please leave a comment below!

The rates are in order of APY (annual percentage yield). If you click on the institution name this will bring you directly to their rates page. You can compare these rates below with some of best CD rates within our archive to make sure you are finding the top rate.

You may find these institutions in Florida’s major cities. These cities may include: Tampa, Orlando, Miami, Winter Haven and Dade City as well as outlying suburbs.

1. Urban Trust Bank: 4.50% APY (5 year term) Minimum deposit to earn APY is $500. Urban Trust Bank is located in Winter Haven Florida and has branches throughout the state and even a few in the DC area. They offer not only financial products but education measures to help the people within the community learn how to reach their financial goals. They claim to regularly conduct financial seminars at churches and community centers as well as participate in financial learning missions in local schools.
2. Fidelity Bank of Flordia: 4.00% APY (5 year term) Minimum deposit to earn APY is $10,000. Fidelity Bank of Florida claims that, “More than 95% of the time Fidelity Bank leads the banks of Brevard County in offering the highest CD rates as reported in the Florida Today newspaper’s money yield comparisons over the past year.” They go on to state that they match that feature with ripened talent and that their average employee has “13 years of banking experience.”
3. Tyndall Federal Credit Union: 3.75% APY (5 year term) Minimum deposit to earn APY is $1,000. Tyndall CU is owned by it’s members and is dedicated to serving them, not stockholders. Since the credit union is a financial cooperative, they return any profits back to the member-owners in the form of lower loan rates, higher deposit rates, and fewer and lower fees.
4. Intervest National Bank: 3.62% APY (5 year term) Minimum deposit to earn APY is $2,500. Interevest is a national bank which offers it’s products to customers nationwide. They are typically on our national CD rates tables becuase their rates generally fall in the top 10 for various savings products. You do not need to reside in the state of Florida to apply for their financial products.
5. Florida Traditions Bank: 3.61% APY (5 year term) Minimum deposit to earn APY is $1,000. Florida Tradtions Bank is a slightly smaller institution. They have 4 primary offices in the state (Winterhevan, Spring Hill, Dade City, and Zephyrhills).