M & I Bank has started a promotion for their liquid CD account.  The 7 month liquid CD earns and interest rate of 3.00% APY with a minimum balance of $10,000.00 and 3.75% APY with a minimum balance of $250,000.00.  The certificate of deposit is a liquid CD since it provides a guaranteed rate for the term of the CD and also allows withdrawals from the account.  After the first 30 days of opening the certificate of deposit the accountholder is allowed to transfer funds to an existing M & I checking account without penalty as long as the minimum balance in the CD is still maintained.  Additional transfers are allowed every seven calendar days.  All transfers must be made to an existing M & I checking account that is opened before at the same time that the liquid CD is opened and set up with a monthly direct deposit.

M & I Bank ads were located in the Milwaukee Journal Sentinel Sunday edition as well as the Kansas City Star Sunday Edition.  In the Star, the interest rate was the as noted above, for the Journal Sentinel the interest rate on the CD was 2.75% for the $10,000.00 minimum balance and an in interest rate of 3.50% on the $250,000.00 minimum balance.

On the bank website they also promote a few other CD terms and interest rates.  The bank has a 13 month CD with a rate of 3.25% APY.  There is a 35 month CD with a rate of 3.70% APY.  And the bank has a 59 month term CD that has a yield of 4.00% APY.  A minimum balance of $2,500 required to earn stated annual percentage yield on this certificate of deposit.  M & I Bank has other CD’s with guaranteed rates and flexible maturity options from 90 days to 5 years.

M & I Bank has retail banking offices in Wisconsin, Arizona, Minnesota, Missouri, Kansas, Oklahoma, Nevada, Florida, and Illinois.  Marshall & Ilsley Corporation also provides trust and investment management, equipment leasing, mortgage banking, financial planning, investments, insurance services and data processing.

Rates not guaranteed and subject to change without notice.  Conditions may apply.  Rates are current as of December 21, 2008.  Rate information and applications by phone can be done at 1-800-642-2657.  The web address for the bank is www.mibank.com.

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