MetLife Bank Offering 12-Month CD at 4.15% APY

MetLife Bank is offering a 12-Month Certificate of Deposit (CD) at 4.15% APY. The rate is competitive when compared to the best 1 year (12 month) cd rates on the BestCashCow rate table. The minimum deposit to receive this rate is $15,000.

You can apply online or via phone. If you use the online application you open the account online and fund the account via an ACH transaction. They will send you a signature card to mail back but the account can be opened before this is done. I was also told that they do a soft pull on your credit to make sure there is no fraud. Presumably this will not impact your credit score.

MetLife Bank is a subsidiary of MetLife, Inc, a company best known for their insurance products (annuities, car insurance, homeowners insurance, etc.). The bank has more than 100,000 customers and is one of the top 150 commercial banks in the United States, with more than $4.5 billion in customer deposits (as of 10/1/07).

Bauer Financial gives MetLife bank a rating of 3 1/2 stars out of 5 (good) for safety and soundness.

Compare the best online 1-year CD rates here.

Today's Highest Online CD Rates

Bank	Product Term	Interest Rate (APY)
Northern Bank Direct	1-Year	5.60% APY with $500 minimum
Finworth, a division of InsBank	1-Year	5.38% APY with $50,000 minimum
TotalDirect, a division of City National Bank of Florida	1-Year	5.35% APY with $25,000 minimum
Dollar Savings Direct, a division of Emigrant Bank	3-Year	5.00% APY with $1,000 minimum
First Internet Bank of Indiana	3-Year	4.66% APY with $1,000 minimum
IncredibleBank	3-Year	4.58% APY with $1,000 minimum
First Internet Bank of Indiana	5-Year	4.55% APY with $1,000 minimum
BMO Alto, a division of Bank of Montreal Harris	5-Year	4.50% APY with no minimum
Department of Commerce	5-Year	4.34% APY with $500 minimum

Bank

Product Term

Interest Rate (APY)

Northern Bank Direct

1-Year

5.60% APY with $500 minimum

Finworth, a division of InsBank

1-Year

5.38% APY with $50,000 minimum

TotalDirect, a division of City National Bank of Florida

1-Year

5.35% APY with $25,000 minimum

Dollar Savings Direct, a division of Emigrant Bank

3-Year

5.00% APY with $1,000 minimum

First Internet Bank of Indiana

3-Year

4.66% APY with $1,000 minimum

IncredibleBank

3-Year

4.58% APY with $1,000 minimum

First Internet Bank of Indiana

5-Year

4.55% APY with $1,000 minimum

BMO Alto, a division of Bank of Montreal Harris

5-Year

4.50% APY with no minimum

Department of Commerce

5-Year

4.34% APY with $500 minimum

Comments

James M. Frado, Sr.

December 02, 2011

Confusion- The MetLife ad states an offering of 4.15%
APY on a 12 month CD. Yet your chart shows only at 1% ? Which is correct. I would be interested in the
4.15% & presently have a CD with Met.
Jim Frado
Fra1sr@aol.com

Is this review helpful? Yes:0 / No: 4
Sol

December 03, 2011

This is an old article from 2008. I wish the rate on a 12-month CD was still over 4%. Current rate is 1% APY.

Is this review helpful? Yes:0 / No: 2
Darryl

March 06, 2012

How much yield will the cd give a person with 15,000 deposit?

Is this review helpful? Yes:1 / No: 1