BankUnited is offering a special 4.00% APY CD with terms from 9 months to 12 months. The minimum deposit is $5,000. You can apply online to open this CD.

BankUnited’s Online Savings Account

BankUnited is still offering its high yield online savings account. The account used to be one of the rate leaders, but in the last few months it has fallen way behind. The current yield is 3.00% APY. BankUnited finally added an ACH transfer system to this savings account, but with the low rate and the customer service problems that many readers have noted, it’s still not a good deal.

BankUnited’s Financial Health

BankUnited has been hit hard by the mortgage problems. In the latest news, BankUnited is looking for alternative sources of capital. Its non-performing loans have been growing. On May 31st, 6.52% of its loans were non-performing. Share price is way down. Yesterday it closed at 73 cents. It was over $20 a share in 2007. Bankrate.com’s latest ratings is a 1 star based on 3/31/08 data which is down from 3 stars on 12/31/07 data. BauerFinancial gives it 3 stars (adequate) based on 3/31/08 data.

BankUnited is FDIC insured.