[Slowpoke98908]

Millennium Bank
Financial Services Centre
Stoney Ground, Kingstown
St. Vincent and the Grenadines, West Indies (W.I.)
http://www.mlnbank.com/Services/premCDs.htm

Premium Certificate Minimum Deposit Interest Rate
1 Year CD $5,000 6.50%
$25,000 7.00%
$100,000 7.50%

3 Year CD $5,000 6.75%
$25,000 7.25%
$100,000 7.75%

4 Year CD $5,000 7.25%
$25,000 7.75%
$100,000 8.25%

5 Year CD $5,000 7.50%
$25,000 8.25%
$100,000 8.75%

These rates seem too high. Anybody know anything about this bank? SAFE?

[ben45750]

Offshore banking obviously isn't federally insured, it would be risky. I would rather put my money in a bank I can walk into.

[Scoe]

Check out Clark Howard's website, he addresses these off shore banks. He also recommends that you look into such banks as ING and HBSC where you can get a FDIC CD for about 5.25%.

[Slowpoke98908]

I do have money in TABB bank which is owned by the Flying J. They are paying 5.25% on savings accounts.

[vavega]

use the "safe and sound" review system at bankrate. com to check on a particular bank and to check rates. you should look into an online money market account that has a high yield, is fdic insured, and you are not locked into a year. you can transfer money online between it and your checking account at any time.