Mutual Bank 16 month 3.50% CD Rate

Mutual Bank is still running their CD rate special at 3.50% for their 16 month Bank CD. This is pretty good considering that there is a lot of rate cutting still going on with banks online and offline. This rate is good on both the regular and IRA CD.

Once the CD gas matured you can receive money by cashier’s check at no charge. If you do decide to go with a faster method of payment such as a wire transfer, there will be a $25 fee or you can simply go the easy route of having the money put into your Mutual Bank money market or checking account.

Mutual Bank has branches located in several major states including Illinois, Texas, New York and New Jersey. This is just one of the many Texas CD rates which are currently performing well.

One thing that may be of concern to you is the fact that Bankrate gave ratings to Mutual bank which are very low. This data was taken back in September of 2008, so ratings may not have been updated yet for 2009. We will continue to keep you up to date. Please remember these CD rates are current as of 1/27/2009 and may be subject to change by the bank as well as restrictions and rules.