MetLife Bank is offering a 12-Month Certificate of Deposit (CD) at 4.15% APY. The rate is competitive when compared to the best 1 year (12 month) cd rates on the BestCashCow rate table. The minimum deposit to receive this rate is $15,000.
You can apply online or via phone. If you use the online application you open the account online and fund the account via an ACH transaction. They will send you a signature card to mail back but the account can be opened before this is done. I was also told that they do a soft pull on your credit to make sure there is no fraud. Presumably this will not impact your credit score.
MetLife Bank is a subsidiary of MetLife, Inc, a company best known for their insurance products (annuities, car insurance, homeowners insurance, etc.). The bank has more than 100,000 customers and is one of the top 150 commercial banks in the United States, with more than $4.5 billion in customer deposits (as of 10/1/07).
Bauer Financial gives MetLife bank a rating of 3 1/2 stars out of 5 (good) for safety and soundness.
Comments
James M. Frado, Sr.
December 02, 2011
Confusion- The MetLife ad states an offering of 4.15%
APY on a 12 month CD. Yet your chart shows only at 1% ? Which is correct. I would be interested in the
4.15% & presently have a CD with Met.
Jim Frado
Fra1sr@aol.com
Is this review helpful? Yes:0 / No: 4
Sol
December 03, 2011
This is an old article from 2008. I wish the rate on a 12-month CD was still over 4%. Current rate is 1% APY.
Is this review helpful? Yes:0 / No: 2
Darryl
March 06, 2012
How much yield will the cd give a person with 15,000 deposit?
Is this review helpful? Yes:1 / No: 1
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