The home state to the NFL playoff bound Cardinals, Arizona, is home to some great opportunities for investing in bank CDs.  FirstBank of Arizona is one bank in the Cardinals backyard that promotes top yielding CDs.  FirstBank of Arizona is not only home to some of the highest CD rates in the state but the bank offers a two year and five year CD that beats the top national lists of banks offering 2 year or 5 year CDs. 

FirstBank is a Colorado based bank and is now Colorado’s second largest depository institution and Colorado’s largest locally owned bank.  The bank has six bank branches in Arizona and allows four free ATM withdrawals per statement from any ATM free of charge.

At FirstBank, Arizona residents can find CDs with a wide variety of competitive short and long term rates with maturities from 91 days to five years.  The two year CD, called a Premier Time Account at FirstBank, is presently paying an interest rate of 3.80% APY.  The five year CD will earn an interest rate of 4.30% APY.  For a shorter time commitment, the bank has a 6 month CD that yields 2.40% APY and a one year CD that has an interest rate of 3.10% APY.

The interest rate on these CDs is fixed for the term of the account.  A minimum balance of $10,000 is required to open the accounts.  Interest is compounded daily.  Interest earned can be credited back into account, or transferred monthly or quarterly to another FirstBank account, or paid by check.

Additional services provided by the bank include a free checking account with no minimum balance, and no monthly service charges.  In addition to this checking account, the bank offers a personal checking account that earns interest on the daily balance.  The present rate is 1.00% APY on this account.  The interest rate and APY may change.  There is a $500 minimum balance and the account allows unlimited check writing privileges.  The bank also offers a money market account with a tiered-account.  An opening balance of $2,500.00 in the account will earn interest on the balance and avoid service charges.  At this time, the interest rate earned on balances between $20,000.00 and $100,000.00 is 1.20% APY.  The interest rate and APY may change every Wednesday and on the first business day of each month.  There is a $10.00 service charge per month when the balance falls below $1,000.

The interest rates are effective 01/02/2009 through 01/06/2009.  These rates apply only to Arizona accounts.  For current rates or additional account conditions stop by any of the Arizona located bank branches, call 800-964-3444 or visit the bank web site at www.efirstbank.com.

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