MetLife Bank Offering 2.25% APY 12-Month CD

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MetLife Bank is offering a 12-month CD that pays 2.25% APY.

MetLife Bank is offering a 12-month CD that pays 2.25% APY on deposits of $25,000 or more. As of September 16, 2009, that's the best 12-month CD rate on the BestCashCow rate tables. The money has to be deposited from an account outside of MetLife Bank.

According to Bankdeals, the CD can be opened by online, phone, or mail. Funding can be done via ACH, check, or wire transfer. MetLife locks the rate when the application is received and provides 15 days to fund the account.

Other details include:

  • Interest is compounded daily, credited monthly.
  • Grace period at maturity if 10 calendar days.
  • Early withdrawal penalty is 90 days of interest for the amount withdrawn for CDs with terms of 12 months or less.

MetLife Bank has $14.6 billion in assets and is part of the MetLife family of companies, best known for their financial products and logos featuring Snoopy. The bank is FDIC insured and has 3 out of 5 stars (adequate) from Bauer Financial for its safety and soundness.

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  • Obama

    October 17, 2009

    This is a great rate but unfortunately with a miserable bank. You are probably not going to loose your money, but you will be very unhappy if you ever actually need to call and talk to these people. I would call them morons but I feel sorry for the people that work the phones as they are probably paid next to nothing and are clearly not experianced or very well trained. Sad realy. If the online form goes smoothly for you then great, but don't call to get your money early or even with the most fundamental question or you won't be happy.

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