On-Line CD Rates Florida

So today we'll take a look at the sunny state of Florida and see if the On-Line CD Rates in Florida can put a smile on our face.

Florida may actually be a good candidate for higher CD yields. They have been hit hard with bad mortgages, which means there are probably some struggling banks. Often times, struggling banks have to offer high interest rates to bribe people to open CDs with them. Honestly, now may be a reasonable time to start taking a look at semi-troubled banks. CD rates will most be starting to increase sometime next year. If the bank fails in during a rising rate environment, you'll get your money back and be able to re-invest them in a higher yielding CD.

BankUnited, Coral Gables -- 7-month CD at 2.25% APY and 1-year CD rate at 2.65% APY. FDIC# 32247
$13 Billion in Assets, but over $1 Billion loss. Rated 1-star. I would have liked
to have seen a little better rate for the risk.
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EverBank, Jacksonville, FL -- FDIC# 34775. Their traditional rates aren't very good. They usually offer some pretty innovative CDs though such as the World Currency CD. You can open a certificate of deposit in different currency such as the British Pound and potentially earn higher interest if the exchange rate is favorable. Lately, I don't think these have been such a good deal. But a couple of years ago they were. They also offer the MarketSafe CD. These CDs are linked to various stock indexes. You have FDIC protection, but have some upside potential if the indexes move favorably. Just read all of the fine print. $7.05 Billion in Assets, $56 Million profit, and good ratios.
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City National Bank of Florida, Miami, FL -- FDIC# 20234. The claim to be the only bank with an A+ rating according to TheStreet.com. Sadly, no rates were posted on the web. So they may have a good rating, but we can't determine the interest rates on-line, which is what this site is about. Bankrate.com gives them a 5-star.
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IronStone Bank, Fort Meyers -- FDIC# 34340. $2.5 Billion in assets with a $28.9 Million dollar loss. They are well capitalized. The don't have good CD rates, but the Money Market rate is 2.25%. Based on the low certificate rates, I would tend to conlude the Money Market offer is a teaser rate, and likely to drop shortly.
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Atlantic Southern Bank, Jacksonville, FL-- FDIC# 57213. They have some pretty good rates. Especially the 7-month special of 2.70% APY and 13-month certificate of deposit at 3.00% APY. Assets are $990 Million and they are profitable with $809K. They are based in Georgia, but have branches in Florida. Hey, they've got good rates.
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Will that is it for this edition. Let me know if you find some high on-line CD Rates in Florida.



Best On-Line CD Rates