bank rates

Outstanding Florida Deal On 11-Month CDs

Tropical Financial Credit Union is celebrating a birthday, but it’s the one giving a gift: a CD special that’s arguably the best in the country.

For lucky savers in southeastern Florida, the credit union’s “80th Anniversary CD Offer” is paying an astounding 3.00% APY.

That alone is enough to exceed the top nationally available rate for any term on our CD Rates Leaderboard. But here’s the kicker …

The term on this CD is only 11 months.

The top nationally available return for 12-month CDs is currently just 1.21% APY.

We haven’t seen a leading national rate as high as 3.00% on 12-month CDs since the summer of 2008 – in other words, before the financial crisis crushed interest rates for all savings products.

Even among 60-month CDs, the longest term we regularly track, the top nationally available yield hasn’t been at 3.00% in three and a half years.

Among all the CD deals we monitor – both nationwide and locally – we’re aware of just two others that match this rate:

Tropical Financial’s special CD can be opened with a modest $500 and has a maximum investment of $5,000. The anniversary certificates are limited to one per member.

Of course, membership in Tropical Financial is required to get your hands on this hot deal.

Anyone living or working in Miami-Dade, Broward, Palm Beach or Sarasota counties is eligible to join Tropical Financial, as well as individuals in most parts of Hobe Sound, Jupiter and Tequesta.

The credit union also offers membership to employees of more than 300 partner companies listed on its membership application.

With a $5 deposit in a savings account, you can join Tropical Financial and buy its certificates of deposit either online or at one of its nine branches in Miami, Fort Lauderdale, West Palm Beach, Coral Springs, Miramar, Pembroke Pines and Plantation.

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