The Metlife Bank is pushing for their 12-month certificate of deposit special that has current interest rates of 2.25% APY. These highest cd rates can be enjoyed for a minimum new money deposit of $25,000. This promo is still on the main and promo page of the bank as of October 1.

The top cd rate can be availed of by using or indicating the promo code Sally10 when you apply by phone, via internet, or when you visit one of their branches. It will be best to contact the bank if the cd special is still effective. According to the bank, they only do a soft credit check when you open an account.

The regular CDs are also competitive. The interest rates are 1.65% APY for a 9-month CD; 2.00% APY for 12-month; and 2.25% APY for 24-month.

The interest rate can be locked for 15 days until the bank receives your initial funding. The money can be sent through mail as check, ACH, or wire transfer.

The bank charges 3 months worth of earnings for early withdrawals from your CDs that have terms of 12 months or less.

Upon maturity of the CD, the bank gives you 10 days of grace period to decide if you want to renew or not. You can give special instructions to the bank so they know what to do with your account. If you decide to take out the profits, they can send it to your external account by ACH transfer. You can also ask them to mail you the check or transfer it to your account by wire. There is an outgoing wire transfer fee of $25.

Bankrate.com gives Metlife Bank 4 stars for its performance. BauerFinancial issued 3 stars. The bank has deposits of around $7.8 billion and about $14.6 billion in assets.

Metlife Bank is covered by the FDIC with certificate number 35055.