November 24th, 2010
Here is a bank CD rate to feast on during Thanksgiving. Enjoy!!! Presidential Bank, FSB has decent interest rates especially if you are limiting your deposits to the Maryland area. Their financial stats are improving, but still not out of the woods. My biggest concern is their huge change in number of employees. They went from 212 as of September 2009 to 344 for September 2010. I would be keeping a close eye on their profits.
|Star Rating:||2 (**)|
|Address:||4520 East-West Highway|
Bethesda, MD 20814
|Penalty:||2-year loss of interest (5-year CD)|
Presidential Bank, FSB doesn’t have the best CD Rates, but they are competitive for their area. And that is all they are really trying to do. They will allow for deposits from outside of their area, but they aren’t trying to compete with the likes of Ally Bank and Flushing Savings Bank CD Rates. However, they do offer a savings account at 1.00% for balances up to $35,000. That rate is competitive with what else is out there. Let me know what you think.
-- By +Chris Duncan