Flagstar Bank of Troy Michigan is offering one of the most competitive CD rates available today. Their 12 to 14 month internet promotional certificate of deposit currently yields 3.25%. The minimum deposit is $500. The CD is FDIC insured and there is a penalty for an early withdrawal.
The penalty for CDs with a duration of 12 to 14 months is 180 days of interest whether the interest is earned or unearned so be sure you won’t need access to the funds deposited.
Flagstar Bank is also part of the Certificate of Deposit Account Registry Service (CDARS) which allows for up to $50 million in FDIC insurance on deposits.
A Flagstar Bank promo CD account can be opened online or by contacting the bank at 1-900-642-0039.
Flagstar Bank CD Account Application
For more information on CDARS watch this CNBC video.
CDARS Information
Author: Lisa Graham
January 14th, 2009
