bank rates

Central Florida Deal: 2.02% On 3-Year CDs

Central Florida savers can beat the top national 4-year CD yield with a term that’s 12 months shorter at MIDFLORIDA Credit Union.

floridacentral Credit Union beats the best nationally available deal on high-yield checking

The Lakeland-based credit union’s special is a step-up CD paying 1.00% in the first year, 2.00% in the second and 3.00% in the last year.

The resulting blended return is 2.02% APY over the 36-month term, which outdoes the top nationally available 3- and 4-year yields from the banks on our CD Rates Leaderboard.

Search through Bankrate’s extensive database of the best CD rates from hundreds of banks and credit unions across the country, and you’ll see that MIDFLORIDA’s deal is tough to beat.

But you’ll need to make a minimum deposit of at least $1,000 in new money, meaning funds not already in a MIDFLORIDA account.

This promotion also carries a stiff 24-month interest penalty for early withdrawal. So only purchase this CD if you feel confident of holding it to maturity.

Membership in MIDFLORIDA is open to anyone who lives or works in most of 22 central Florida counties. To join and buy its certificates of deposit, a visit to one of its 56 branches is required.

You can find this and dozens of other chart-topping deals in our constantly updated roundup of the country’s best-paying CDs from credit unions and community banks.

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