Great CD Deal at Central Bank – 7 Month APY 1.35%

Central Bank, a small bank in Tampa, Florida, has a really great CD deal right now. Central Bank's best deal is on their 7 month Advantage CD that has a CD rate of 1.34% and an APY of 1.35%. You must open an account with at least $10,000 of "new funds" to earn the rate and yield. New funds meaning money not already on deposit at Central Bank.

This CD account is also a liquid CD, which means you can add money or withdraw money at any time. You have the option to withdraw $500 or more a month, once a month and you must maintain a minimum balance of $5,000.  Be sure to keep at least $5,000 in the account because if the balance falls below the $5,000 minimum, the account will be closed and there will be early withdrawal penalties. Info on the bank's 7 month CD can be found here: Advantage Liquid CD.

Another special that CD Central Bank is offering is their Rate Watcher 18 month CD. The current rate on the 18 month CD is 1.54% with an APY 0f 1.55%. The rate on this CD isn't as good as the 7 month CD but you have the option to increase the rate once during the term.  Obviously, rates will need to rise in order for you to get an increase and based on how the economy is performing, we might actually see interest rates head higher over the next couple of years.

Central Bank also has regular and IRA certificate of deposit accounts. These rates are not as good as the 7 month CD or 18 month CD but still are competitive. The bank is also offering several other types of deposit accounts and checking accounts that have good rates. You can find a list of the bank's rates here: Central Bank's rates.