2.52% 12-Month CD and a Competitive Money Market Account at Metro Phoenix Bank - Local Only read and submit comments for this post

Update 7/19/09: The 12-month CD rate has fallen to 2.02% APY. Please check the bank's website for the latest rates.

Metro Phoenix Bank is offering some competitive CD and IRA rates. The best deals are a 2.52% APY 12-month CD and a 2.78% APY 24-month CD. Minimum deposit is $5,000 for a regular CD and $2,000 for an IRA CD. They also have a competitive rate on their money market account. It's a tiered rate account with a 2.53% APY for balances of $100K to $1 million. These rates are listed in the bank's rate sheet as of 7/07/09 (rate sheet link on left side of the bank's home page).

It appears that a branch visit is required to open an account. It's a small bank with one office located in Phoenix, Arizona.

The bank has a 4-star rating (sound) at Bankrate.com based on 12/31/08 data. It's still labeled as a start-up with no rating at BauerFinancial. The bank has been a FDIC member since 2007 (FDIC Certificate # 58402).

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