1st Mariner Bank, a full service community bank headquartered in Baltimore, is offering two Promo CDs that went into effect on August 9, 2012. These Promo CDs are, however, not available in the state of NY, NV and OR.
The 1st Mariner Bank Promo CDs for interested CD investors are:
1.10 month companion CD with checking at 1.00%APY; and
2. 10 month companion CD without checking at 0.50%APY.
The 10 month companion CD with checking at 1.00%APY is the highest certificate of deposit rate offered for this month. However, since this is a promotional offer, this may not last long. For those interested, it may be worth checking out.
Please note that the above are fixed rate certificate of deposits. Also, check with the bank with regards to the first option because though it comes with checking it may not be free. Charges that may come with it will eat up the interest income on your CD even if it is at 1.00%APY.
There are different kinds of checking account fees and they may come in various forms e.g., monthly maintenance fees, etc. It is a wise investment idea to check with the bank before opening the 10 month Promo CD regarding the checking account that comes with it as it may eat up your interest income. It is a tempting 10 Promo CD considering that it is at 1.00%APY while most banks are offering a 1.00%APY on a 1 year CD, but a checking account maintenance fee of, for example, $7 a month is a lot if you sum it up in a year.
You may also check the best 1 year CD rate for August 2012.