Consumers in North Carolina has another best CD rate offering through the 12-month special CD of Bank of Granite earning 2.25%APY. The bank also offers its top cd rates for its 6-month special CD yielding 1.75% APY. These require an initial funding of at least $5,000.

It seems that you need to visit a branch to open this money in the bank deal. Bank of Granite has branches in Charlotte, Wilkesboro, Granite Falls, Hickory, and Winston Salem in North Carolina.

The current interest rates are still posted on the front page of the bank’s website but they can be changed any time.

Bank of Granite also offers Solid CDs and RateBuster CDs which require a minimum opening balance of $2500 which are basically fixed and variable rate certificates of deposit, respectively. You need to call the bank to find out about the interest rates. You can reach them through 828-496-2000. You may also want to inquire about other factors like early withdrawal fees which may affect the earnings of your savings.

The high interest rates might be a good marketing tactic to attract more depositors. It may be worth the try but stay within the limits of the coverage of the FDIC. The financial ratings of the bank are a bit weak. BauerFinancial sees the bank as problematic and stamped 2 stars. Bankrate.com issued 1 star for its performance. These were based on their September and June 2009 data.

The bank is covered by the FDIC since 1934. It is indexed under certificate number 5950.