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The 7-month CD is advertised @ 5.25% APY with a minimum balance of $500. I just spoke with a CSR and was told the 5.25% APY rate also applied to the 13-month CD. I was given a reference number to lock in the rate. Application must be postmarked within 14 days of my initial call to guarantee rate.

Looks like this institution is for real:
http://www.occ.treas.gov/ftp/craeval/Jan06/24099.pdf

I called up and got a reference #. Have 14 days as well to make my deposit.

With the FED cutting interest rates today by 75 basis points, 5.12% APR (5.25% APY) deals like this one, IMO, will be harder to find.

Not sure when the offer got removed from their site, but it's gone now. Additionally, they've removed the application hyperlink which could make it difficult to apply for the CD(s) even if you've locked in the rate.

Thankfully browsers have "browsing history." The application is still on-line at the URL it was listed at yesterday:
http://www.superiorsavings.com/MM-12MthOnlineApp.pdf

Diggler

Yup. Looks like the offer has been removed.

Since there's a 14-day grace period, I figured this was a good time for me to rack up whatever savings I don't need for the time being to make my initial deposit.

The 5.25% reappears. Looks like the rate's still good as of 01/24/08 10:45AM EST.

I don't see it, do I just need to call?

Just checked moments ago and offer still shows. If you want in, I suggest you call just to lock in your rate for 14 days.

Ok, it must have been a while for me, but I'll ask...Do I make out the check to myself or directly to the bank? I noticed on the app that it was directly to the bank so it seems kind of odd. I could have swore I made checks out under my name for initial deposits in the past.

I made it out to the bank as the form asks, but in the Memo section I wrote what it was for. You can always make it out to the bank "C/O Your Name."

Finally mailed my deposit today. I also opened the Rapid Link Checking account and fund that account with $1. When it comes time to maturity, I can move the money over to the checking account and transfer funds to my other OS accounts, instead of waiting for the check in the mail.

Any clue if we still can get it?

I called them yesterday to inquire about their current rates:

I believe it's a 7-month @ 4.00% APY

Superior Bank becomes Capital One Bank

Looks like CapOne bought them out.

Wow... Wasn't expecting that curve ball. Hope they honor the CD rates!

Mailed my application on 02/01 and USPS delivery confirmation shows that it was received on Monday, 02/04. Hopefully, I'll get an acknowledgment that my CD has been locked in.

Called Superior Bank and was confirmed my application was received and is currently processing.

Received a letter in the mail yesterday from Superior Savings confirming my CD @ 5.25% APY and rapid checking account with a starter set of checks.