Mile High CD Rates

Mile high CD rates can only be found in the state that is home to the mile high city, Colorado.  For this bank CD rate evaluation the bank reviewed is in fact named Mile High Banks which is located in Colorado.

Mile High Banks is a Colorado owned full-service commercial bank.   Mile High Banks offers personal and commercial banking services.  The bank was originally founded in 1919 as the First National Bank of Limon based in Limon, Colorado.  In June, 1991, a group of investors in Boulder County created the Big Sandy Holding Company that acquired the bank.  In 2001 fresh capital was raised and was used to support branch expansion into the Front Range communities of Colorado under the name Mile High Banks.  Mile High Banks operates as a subsidiary of Big Sandy Holding Company.

Mile High Banks offers a broad selection of products and services to help consumers and businesses reach their financial needs.  The bank offers a full range of credit and lending products including commercial, commercial real estate, residential real estate, agricultural, and consumer loans.

Mile High Banks CD rates are frequently the highest CD rates in their market area while competing with some of the largest banks in the nation such as Wells Fargo Bank, U.S. Bank and Bank of America.  Current CD rates available from Mile High bank include:

A 30 day CD with an interest rate of 1.50% APY.
A 90 day CD that earns an interest rate of 2.50% APY.
A 6 month CD which has an interest rate of 3.00% APY.
A one year CD that also yields an interest rate of 3.00% APY.
And two, three and five year CDs that all currently earn an interest rate of 3.00% APY.

The interest rates on certificates of deposit are fixed during the term of the CD.  The annual percentage yield (APY) posted assumes interest remains on deposit until CD maturity.  A withdrawal of principal or earned interest will reduce earnings.  There may be a substantial penalty for early withdrawal on CDs.  The minimum opening deposit for the bank CDs is $1,000.00.

The bank also offers very competitive rates on money market accounts and standard savings accounts.  The money market account earns a higher interest paid on higher balances with check writing convenience.  For balances of $0 – $999.99  the money market account has an interest rate of 0.25% APY, for balances of $1,000 – $9,999.99  the money market account earns an interest rate of 0.50% APY for balances of $10,000 – $24,999.99 the account has a rate of 0.75% and for balances of $25,000 – $74,999.99 the money market account yields an interest rate of 1.00% APY.  Minimum opening and monthly balance service charge requirements apply.  Certain transaction limitations apply.  The minimum opening deposit on Money Market accounts is $1000.00

The standard savings account at Mile High Bank are now earning an interest rate of 2.85% APY.  The minimum opening deposit required on the savings accounts is $100.00.

Interest on all interest-bearing accounts is compounded and credited monthly interest rates on all deposits products including the savings account, money market account and CDs are determined at the sole discretion of Mile High Banks and are subject to change daily.  The interest rate and annual percentage yield for each account type shown are current as of the date shown on this page.  Contact a local branch for the most current rate information; call 303-413-0700.   Further information is available on the bank web site located at www.milehighbanks.com.

Tags: bank, CD rates, CD rates Colorado, Colorado banks, interest rates, Mile High Banks, money market, savings

This entry was posted on Friday, January 23rd, 2009 at 10:01 am and is filed under Bank Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.