CD Rates

First City Bank CD Rates

First City will give you up to 2.65% APY on a long term CD. Money Market rate is up to 1.51% APY. IRAs up to 2.02% APY.

How to decide what rate you want to take with First City Bank depends on how long you are willing to lock in your rate with this uncertain economy. Certainly, while we wait around for rates to go up and take short term CD rates, we sometimes end up making nothing after we pay the taxes on our little interest.

Perhaps it might be best to lock in the highest rates for the longest terms and stop waiting around for better rates. Some return is better than nothing. With these thoughts in mind, consider why First City Bank may have the long term rates listed below, along with the short term rates that are still competitive with what others are offering in May 2010.

CDs are all listed with APY rate:
30-89 days = 0.50%
90-179 days = 0.50%
180-364 days = 1.25%
12-17 months = 1.80%
18-23 months = 1.90%
24-29 months = 2.00%
30-35 months = 2.05%
36-47 months = 2.25%
48-59 months = 2.45%
60 months = 2.65%

Money Markets all listed with APY rates:
Tier I ($100k or more) = 1.51%
Tier II ($25k-$99,999.99) = 0.75%
Tier III ($10k-$24,999.99) = 0.50%
Tier IV ($2.5k-$9,999.99) = 0.25%
Tier V ($0.00-$2,499.99) = 0.10%

IRA’s listed with APY rates:
12 month variable = 1.81%
12 month fixed = 1.81%
24 month fixed = 2.02%

A word of caution must be exercised with this bank. Although it is protected with the usual FDIC requirements if it fails, a leading bank rating system called Bauerfinancial gives it a “zero” rating as the lowest star rating available because this banks financial data based on its last public report of 12/31/09 shows it to be facing challenges and in a troubled situation right now.

First City bank is headquartered in Fort Walton Beach, FL. The website is firstcitybank.com

Disclaimer
This post is not regularly maintained, so we cannot guarantee accuracy at the time of your reading. Please contact the institution directly for more information.