2.00% APY high interest savings account with Community State Bank Austin, guaranteed until May 31
The Community State Bank Austin is pushing for their high yield savings account called Gold Savings Account that has a current interest rate of 2.00% APY. This best interest rate is guaranteed until May 31, 2010. This savings account requires an initial deposit of $1,000.
This savings account promo is not posted on the website of the bank. A reader sent us scanned ad of the money in the bank deal printed on the Austin Statesman last March 21.
The ad really does not give a ton of details about the savings opportunity. We hope the bank can give a longer guaranty period so people can take advantage of the offer. Another downside is that the interest rates are paid on a quarterly basis. It might be a source of concern since interest rates may drastically drop after the guarantee period.
It seems you need to drop by one of their branches to open an account. They operate two offices in Austin, Texas.
The bank has some weak ratings so it will also be wise to stay within the FDIC limit. Bankrate.com issued only 2 stars upon reviewing its performance. BauerFinancial gave it 3 stars for soundness and safety.
Community State Bank Austin is a member of the FDIC since 1934. They are covered by certificate number 11561.
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