Consumers are invited to take advantage of the competitive certificate of deposit rates offered by TotalBank at 2.55% APY. The top cd rates are for the 12, 9, 6, and 3 month online cd’s called the Total e-CD.

The minimum deposit to enjoy the best cd rates of the deal is $1000. The rates are effective as of 10 June but it will be best to call the bank to confirm. Interested parties can open an account through the banks website.

Another good money in the bank deal is the 7-month promo certificate of deposit offered by TotalBank with a 2.25% APY earning. New money is needed to open the account for $1000. Consumers can also enjoy this cd interest rate for the 11 and 13 month CDs. These promos are not online CD’s and require a visit to the bank.

Upon verification, a TotalBank customer service representative confirmed that people from all states can open an account. It was also clarified that the funds will only be locked upon receipt of the funding from the account holder.

The certificate of deposits can be funded through wire transfer, ACH, or by mailing in a check. The documentation of the account details that the interest of the CD are compounded and credited on a monthly basis.

The certificate of deposits also automatically renews but account holders have a grace period of 10 days if they want to close it down. Penalties for early withdrawal may be as much as 3 months of account earnings for 6 month terms or less. Deductions of as much as 50% of the earnings may be incurred by CDs over 6 months.

Account holders can opt for a cashier’s check or the bank may be instructed to initiate a wire transfer. Ifever you need help about online accounts, TotalBank can be reached at 305-232-4900.

The TotalBank has offices spread across the Miami-Dade County. The ratings of the bank are not that high with BauerFinancial issuing 3.5 stars while Bankrate.com gave 2 stars. TotalBank was acquired by banco Popular Espanol in 2007. It is insured with the FDIC with certificate number 21468.