Meridian Bank Texas Offers Gridiron CD; Rate Increases with Football Wins

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Meridian Bank Texas is offering a Gridiron CD where the rate increases if either TCU or UNT win a football game or a bowl game. It's one of the most original or wackiest CD promotions I've ever seen. Here's how it works.

Meridian Bank Texas is offering a Gridiron CD where the rate increases if either Texas Christian University (TCU) or the University of North Texas (UNT) win a football game or a bowl game.  It's one of the most original or wackiest CD promotions I've ever seen. If you open a one year CD and a relationship account before Ausut 31, 2009, your rate can increase up to 145 basis points depending on how either team does.  Right now, their one-year CD is paying 2% APY.

Here are some other details of the offer:

  • This is a very local offer that must be opened in-branch.  Meridian Bank Texas has two branches in Forth Worth and Denton.
  • Minimum balance is $1,000, maximum is $100,000.
  • The CD must be accompanied by a relationship account to ge the 10 bps bump for each win.  Relationship accounts come with a daily balance of $2,500.
  • For regular season victories, the interest rate bump will become effective on December 31, 2009.  That means that your CD will only earn the enhanced interest for 6-8 months, depending on when you open it.
  • For bowl victories, the bump will happen as of January 15, 2010.

I don't know how well either of these are projected to do, but if you follow them, this gives you a chance to have a little something wagered on the game.

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