The First City Bank headquartered in the Florida Panhandle offers a very competitive certificate of deposit special with current interest rates of 2.25% APY. According to the promo page, these cd interest rates will expire by February 26.

The best interest rates can be enjoyed with a minimum deposit of $5,000. The ceiling is set at $250,000. The website does not detail the early withdrawal penalties and other fees which may affect the earnings of your deposit.

Individuals interested to take advantage of these highest cd rates can open an account online. Take note though that you cannot select the 15-month special on the application page. We called the bank and we were told that you can select either the 12 or 18-month certificate of deposit then mention that you are applying for the 15-month promo in the comments box.

You can also open the CD by calling the bank’s hotline through 888-244-5151. One of our readers though reported that she was told by the bank that applying over the phone is not an option. Another way to open this certificate of deposit special is by visiting one of their branches.

First City Bank has branches in the cities of Mary Esther, Destin, and Fort Walton Beach in the Florida Panhandle.

The current interest rates may be attractive and competitive but the bank has a poor rating of 1 star from bankrate.com. It will be wise to stay within the limits of the FDIC.

The bank is indexed with the FDIC since 1948 under certificate number 16748.