First Federal is offering a 3.50% APY 5 year CD with a minimum deposit of $1,000 and a 2.65% APY 3 year CD with a minimum deposit of $20,000(the rate drops to 2.40% APY for a $1,000 minimum deposit). The early withdrawal penalty on these CDs is 180 days’ interest.
This deal is limited to residents of North Carolina, South Carolina, Georgia, and Florida and you can apply online for an account. You can fund the account via an online banking ACH transfer which is very convenient.
The CD rate locks in when the application is submitted and the maximum ACH transfer that can be made is limited to $50,000. Upon maturity the bank will mail you a check or send the funds to your checking account if you have one with them.
First Federal is also offering an interest checking account called Moolah Checking and is yielding 2.51% APY for accounts up to $25,000.
First Federal has branches in North and South Carolina. They have a 3 out of 5 star bank soundness rating from bankrate and are FDIC insured. To visit their website click here.