US Metro Bank CD Rates
Some buzz has been going around about the great offer for US Metro Bank CD rates. This bank has only been around since 2006 and is located in Garden Grove, California (just south of Los Angeles). Our goal here at Online Banks Blog is to bring you the latest information for online banks and their rates and offers.
Right now, a USMetro Bank CD called the Freedom CD, is offering a 3.15% annual percentage yield (APY) for a 12-month term. The minimum deposit is $10,000, but unlimited deposits during the term are allowed and up to 5 no-penalty withdrawals are also allowed—though the minimum balance must be maintained.
This certificate of deposit special was initial to end at the close of March, but has been extended indefinitely. We can make guesses as to why and they probably center around the problems many online banks (and regular banks) are having now. They need deposits to build their base and create a better image of solidity.
It should be noted that US Metro took about $2.8 million in federal TARP funds to cover bad assets the bank held in some investment funds. Otherwise, the bank appears to be fairly sound. These US Metro Bank CD rates may not last long, so if you’re interested in these US Metro Bank CD offers, you should do so quickly.
US Metro Bank CD rates can change at any time. The bank is FDIC insured.
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