Best Bank CD Rates California, Washington and Oregon

Those seeking higher interest rates without the need for immediate liquidity can find very good rates of return with bank CDs.  Generally, the more you save and the longer the term for the savings commitment, the higher the interest rate on the CD.  But interest rates alone don’t always tell the whole story.  Most local and regional, and quite frankly the national banks as well, claim to aspire for a strong, personal relationship with their bank customers.  Few banks can actually beat the products, services offered and relationships fostered by Umpqua Bank.

Umpqua Bank, is a community bank, that provides personal and business banking, and mortgage services.  The company’s personal banking services comprise checking, savings, CDs, money market, and health savings accounts, as well as personal loans.  The company was founded in 1953 and is based in Roseburg, Oregon.  Umpqua Bank operates as a subsidiary of Umpqua Holdings Corporation.

The bank is primarily recognized for its consumer friendly approach to banking, innovative use of technology, and distinctive banking solutions.  The bank has created its own coffee blend.  It was ranked number 13 on the Fortune magazine, “100 Best Companies to Work for” in 2008.  In addition, the bank has a computer café and local music.  Many of the bank branches even offer after hour’s activities, from financial seminars to knitting and book clubs.  And the bank offers an array of savings products to fit its customer’s diverse financial needs.

Umpqua Bank has 148 locations between Napa, Calif., and Bellevue, Wash., along the Oregon and Northern California Coast and in Central Oregon.  Umpqua Holdings also owns a retail brokerage subsidiary Strand, Atkinson, Williams & York Inc., which has locations in Umpqua Bank bank branches and in dedicated offices throughout Oregon and Southwest Washington.  Umpqua Bank’s Private Client Services Division provides customized financial services and products to individual customers.

Currently, the bank has the following short term CD accounts with a tiered interest rate based on the amount used to open the bank CD.

A 180-364 day CD earns an interest rate of 1.11% APY, for amounts of $1,000 – $9,999.99.  The same term CD earns an interest rate of 1.21% APY for balances of $25,000 – $49,999.99.  And for CD amounts of $50,000 – $99,999.99, the interest rate is 1.26% APY for that term.

A 12-17 month CD that has an interest rate of 1.51% APY on balances of $1,000 – $9,999.99.  This CD with a balance of $25,000 – $49,999.99 will earn an interest rate of 1.66% APY.  And for balances of $50,000 – $99,999.99, the CD will yield an interest rate of 1.76% APY.

The bank also offers a CD that has a more flexible rate and investment opportunity.  These CDs have an interest rate bump option.  Interest rate may be increased once after three months during original six-month term or renewal term and once after six months during original 12-, 18-, 24-, or 36-month term or renewal term, to posted rates available at that time.  And the CD accountholder can add to their investment any time with $1,000 deposits.  The current interest rates on these accounts are as follows:

A 6 month CD that has an interest rate of 1.11% APY for balances between $1,000 – $9,999.99.  The 6 month CD with balances of $25,000 – $49,999.99 earns an interest rate of 1.21% APY.  When the balance increases to $50,000 – $99,999.99, the interest rate rises to 1.26% APY.

This CD also comes in a 12 month term that has an interest rate of 1.51% APY on balances of $1,000 – $9,999.99.  An interest rate of 1.66% APY on balances between $25,000 – $49,999.99.  And an interest rate of 1.76% APY for balances between $50,000 – $99,999.99.

CD interest rates are dependent upon location.  CD rates for other locations may be different.  Annual percentage yield assumes quarterly compounding of interest for terms 90 days or greater.  For terms less than 90 days, annual percentage yield y assumes compounding at maturity.  Rates are subject to change at any time and are not guaranteed until the CD is opened. Interest rates and corresponding APY are fixed at the time the account is opened.  For more information on bank products and CD rates call1-866-486-7782 or visit the bank website at www.umpqualab.com.

Tags: bank, best CD rates, CD rates, CD rates California, CD rates Oregon, CD rates Washington, interest rates

This entry was posted on Tuesday, January 13th, 2009 at 8:35 am and is filed under Bank Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.