Transportation Alliance Bank is offering the best CD rates on their 24 to 60 month CDs. If you open a 2 year CD you will get 5.48% APY and for CDs between 3 and 5 years you will get the currently highest CD rate of 5.50% APY.
The minimum deposit for opening a CD with them is only $1000 and they are FDIC insured.
The biggest problem with this deal is that they don’t offer the ability to open the account online. To get this best CD rate of 5.50% you will need to call them at 800-837-4214 or fill out the PDF and mail it in. They will probably lose a lot of business to other banks just because of the lack of online sign up ability.
Find out more about them at www.tabbank.com.
3 users responded " Transportation Alliance Bank High Rate CDs - 5.50% APY "
April 15 2008
I learned last year that higher rates come from banks with greater exposure to sub-prime mortgage risks (Countywide, Corus, Indymac, etc).
Transportation Alliance has a 5* safety rating from one of the online services, so I’m puzzled how they can offer these very high CD returns.
May 20 2008
Noting the above comment, I am also puzzled as to how Transportationn Alliance can offer such high rates on their CD’s seeing as they have a 5 star rating by one of the online services. Is there any way to find out why?
August 6 2008
I don’t know if this is the reason they are offering high CD rates, but they finance trucking companies, and high fuel rates are hurting trucking companies. Perhaps, Transportation Alliance Bank has been experiencing losses from trucking companies defaulting on loans. PERHAPS, I say.