Meridian Bank Texas Offers Gridiron CD; Rate Increases with Football Wins

Meridian Bank Texas is offering a Gridiron CD where the rate increases if either Texas Christian University (TCU) or the University of North Texas (UNT) win a football game or a bowl game. It's one of the most original or wackiest CD promotions I've ever seen. If you open a one year CD and a relationship account before Ausut 31, 2009, your rate can increase up to 145 basis points depending on how either team does. Right now, their one-year CD is paying 2% APY.

Here are some other details of the offer:

• This is a very local offer that must be opened in-branch. Meridian Bank Texas has two branches in Forth Worth and Denton.
• Minimum balance is $1,000, maximum is $100,000.
• The CD must be accompanied by a relationship account to ge the 10 bps bump for each win. Relationship accounts come with a daily balance of $2,500.
• For regular season victories, the interest rate bump will become effective on December 31, 2009. That means that your CD will only earn the enhanced interest for 6-8 months, depending on when you open it.
• For bowl victories, the bump will happen as of January 15, 2010.

I don't know how well either of these are projected to do, but if you follow them, this gives you a chance to have a little something wagered on the game.

See the best CD rates where you live here.