The best CD rates in California were lower across all maturities for the week ending October 9, 2009. The largest drop on average was on the short term bank CD rates and the smallest drop occurred in the five year rates.
The best six month CD rates in California fell by eight basis points or 8/100 of a percent. The highest six month CD rates averaged 1.72% for the week, down from the prior week’s average1.80%. The best six month CD rate in California is marketed by United Pacific Bank which offers a six month CD with an interest rate of 1.88%.
One year CD rates in California were off by five basis points for the week. From the previous week’s average of 2.10%, the average for the best one year CD rates in California stands at 2.05%. The highest one year CD rate is available at Golden Security Bank which offers a one year CD at 2.18%.
Two year CD rates in California were worse by six basis points bringing the average yield to 2.30%. The leader in the California two year maturity is Mutual of Omaha Bank. Mutual of Omaha promotes a two year CD that yields 2.35% currently.
The best five year CD rates in California were knocked down by four basis points. The average yield for the five year bank CDs moved downward from 3.31% t 3.28% at the close of the week. The highest five year CD rate comes from Broadway Federal Bank which has a five year CD rate at 3.56%.
Overall, the reduction in average yields in brings the California CD rates more in line with the best national bank CD rates. The best six month CD rates in California continue to exceed the best national bank rates available as does the five year term CD in California. The best two year CD rates are on par with the best national two year rates while the one year is superior in the national market primarily due to the new two year CD rate at ING Direct.
While the average of the national bank CD rates held firm for the week, California CD rates slipped across all terms. The rate reductions were moderate on the shorter term CDs and more substantial for the long term, two and five year CD rates in California.
The average of the best six month CD rates in California fell one basis point or 1/100 of a percent for the week ending September 18, 2009. The average rate closed the week with a yield of 1.84%. First Choice Bank is the leader in this term category with a six month CD rate of 2.07%.
The best one year CD rate average in California also moved lower by one basis point. The average rate in the six month CD term dropped from 2.14% last week to 2.13% as of Friday. First Choice Bank holds the top spot here as well with a one year CD yielding 2.38%.
The two year CD rates in California were down a more substantial amount, closing out the week lower by four basis points. The average of the best two year CD rates started the week at 2.48% ad ended at 2.44%. The best two year CD rate in California comes from Pacific Premier Bank which offers a two year at 2.55%.
Five year CD rates in the Golden State tumbled a whopping 13 basis points. The average for the best five year CD rates in California finished with a yield of 3.32%. Broadway Federal Bank is promoting the best five year CD rate at 3.56%.
CD rates in California have been fairly volatile in the past two weeks. For those investors that have CDs maturing soon, be sure to check the tables regularly as interest rate changes this frequent are terribly uncommon intra week and some of the promotional rates by the state and regional banks are terminated shortly after the promotions begin.
California CD rates tumbled for the week but remain above the best national bank CD rates. As with most the vast majority of bank rates, California CD rates moved lower for the week ending August 7, 2009. CD rates were lower across all terms in the golden State. The highest CD rates in California have been steadily moving closer to the national averages throughout the year.
With this rather modest slide in short term rates, the average of the best six month CD rates in California has now dropped down to 1.95%. This rate remains above the best CD rates available nationally where six month term CDs now average 1.76%, but this is a narrower spread than in previous weeks. The best six month CD rate in California comes from United Commercial Bank which offers a promotional 8 month CD with an interest rate of 2.08%. American Plus Bank has a six month term CD that is six basis points lower at 2.02%. This is followed by United Central Bank which has a six month CD rate in California at 2.00%.
United Central Bank just recently acquired the assets and accounts of Mutual Bank of Illinois. Mutual Bank had 12 bank branches and total assets of approximately $1.6 billion which is now added to the existing $1.1 billion in assets of United Central Bank.
The best one year CD rate in California is also found at United Commercial Bank. United Commercial Bank has a one year CD rate that yields 2.28%. This California CD rate surpasses the best national one year CD rate by 12 basis points. American Plus Bank and United Central Bank are all very competitive for this term bank CD as well with CD rates that are within three basis points of the category leader.
The highest two year CD rates in California are also hovering above the best two year CD rates available nationally. The best national two year CD rate is currently at 2.47% while two banks in California lead in this category with rates six basis points over the best national rate. The top spot for the best two year California CD rate is shared by Broadway Federal Bank and American Plus Bank which both promote two year CD rates at 2.53%. Eloan is the national rate leader.
The third largest bank in the nation has engaged their marketing muscle to lead the five year term CD rates in California. The five year CD rate leader in the Golden State is now at Citibank. Citibank’s online CD for a five year term is currently at 4.00% in California. The next best five year CD rate in California comes from the sixth largest bank in the U.S, US Bank. US Bank is once again promoting their 59 month CD with an interest at 3.50%.
California CD rates continued to adjust downward for the week ending June 19, 2009. The average rate on the best six month CD rates in California declined by a stunning 12 basis points or 12/100 of a percent. The six month CD rates averaged 2.09% this week, down from last week’s average of 2.21%. The one year CD rates in California fell by a third as much or by four basis points to end the week at 2.47%. Two year CD rates in California remained unchanged for the week, holding steady at an average rate of 2.69%. The average for the best California CD rates with a five year term was pushed down by four basis points for the week to end at 3.49%.
The best six month CD rates in California are in a very tight range. The highest six month rate is at 2.16% and comes from Mirae Bank. Only one basis point below this bank rate is the six month CD of United Central Bank with a yield of 2.15%. Vineyard Bank follows these two banks with a six month CD rate of 2.11%.
Two California banks lead off the best one year CD rates. Broadway Federal Bank and American Plus Bank both offer one year CD rates of 2.53%. Mirae Bank makes this term category as well with a one year CD that has an interest rate of 2.50%.
The two year CD rate category in California is led by Kaiser Federal Bank that promotes a two year CD with a rate of 2.85%. First Republic Bank has a two year CD five basis points lower in yield at 2.80%. The top three banks include American Plus Bank which offers a two year CD rate at 2.78%.
US Bank leads the list of California banks with the best five year CD rate. US Bank recently raised the interest rate on their 59 month promotional CD to 4.00% which easily leads for this maturity. One West Bank offers a five year CD promoted as online only that has an interest rate of 3.65%. Broadway Federal Bank and La Jolla Bank market competitively priced five year CDs with rates of 3.56% and 3.50%, respectively.
California CD rates followed the lead of the national bank rates for the week of June 12, 2009 and ended for the most part on a down note. The average for the best CD rates in California weakened with the exception of the five year term which ascended. This bank interest rate adjustment followed similar activity for the best national rates.
The six month CD rates in California dropped measurably for the week, declining from 2.28% to 2.21%. Some of the reduction in rates is due to changes in promotional rates that are available on odd month CD terms. Plaza Bank is one bank that encountered such a change. Plaza Bank was last weeks leader in the six month term but was included on the top bank rate list with their nine month term CD. That CD rate is no longer available and the new leader is Wilshire State Bank which also coincidentally leads the best national rate list. Wilshire State Bank continues to promote a six month CD with an interest rate of 2.52%. Note – this offer expires this week at which time they will be reducing the rate to 1.95%.
The best one year CD rates in California also gave up some ground up, falling from 2.53% at the start of the week to 2.51% at the close of the week. The best one year CD rate is now the product of Mirae Bank with an interest rate set at 2.60%. Mirae Bank is headquartered in L.A and has six bank branches in the surrounding area. American Plus Bank and Hanmi Bank immediately follow this rate with one year CDs that yield 2.53%. Only one basis point lower is the one year CD of Wilshire State Bank with a rate of 2.52%.
Two year CD rates in California tripped and fell six basis points or 6/100 of a percent to average 2.63% at weeks end. Kaiser Federal Bank offers the best two year CD rate at 2.85%. First Republic Bank maintains a two year CD with an interest rate of 2.80%. American Plus Bank has the third highest CD rate available at 2.78%.
The average of the best five year CD rates moved in the opposite direction of the other terms and climbed for the week by seven basis points to end at 3.51%. First Republic Bank has the highest five year CD rate at 2.80%. American Plus Bank is close with a five year CD yielding 2.78%. The remaining top bank rates with a five year term drop off quite a bit with Vineyard Bank offering the next best rate at 2.59%. The outstanding bank rates on the list of the best five year CD rates all market five year CD s with rates just above 3.50%.
CD rates in California ended the week with a split decision. The six month and one year CD rates retreated for the week while the two year and five year CD rates gained on yield. The average for the best six month CD rates fell from 2.31% to 2.28% for the week. Even with the reduction in the average, there a few stand opportunities for short term CD rate investments in California. The highest CD rate is a nine month term CD from Plaza Bank that has a yield of 2.55%. The next best six month CD rate is the reigning national leader, Wilshire State Bank, with an interest rate of 2.52%.
The average for the best one year CD rates in California dropped from 2.57% to 2.53%. The highest one year CD rate is at Plaza Bank with a rate of 2.65%, this interest rate is two basis points above the best national rate. The next best one year CD rate is available at two banks, American Plus Bank and Hanmi Bank, and yields a rate of 2.53%.
Two year CD rates in California climbed by five basis points with average ending the week at 2.69%. The best two year CD rate increased five basis points to 2.85%. The top rate is available at Kaiser Federal Bank. First Republic Bank falls to second position with a two year CD rate set at 2.80%.
Five year CD rates in California also gained ground for the week rising from an average of 3.39% last week to 3.46% for the week ending June 5, 2009. The best five year CD rate remains unchanged at 3.75% and is marketed by First Republic Bank. The second CD rate drops measurably to 3.56% and is the product of Broadway Federal Bank.
Certificate of deposit rates in California were mostly unchanged for the week ending May 29, 2009. The highest six month CD rate dropped slightly while the average of the top six month CD rates increased modestly. The average of the best six month CD rates is now at 2.31% which is up from last week’s average of 2.30%. The one year CD rates in California were lower for the highest rate as well as the average. The best one year CD rates now averages 2.57%.
California bank CD rates with a two year dropped marginally on average with the average for the best two year CD rates falling to 2.64% from 2.65%. The best CD rate in this term category actually gained a little ground rising to 2.80% from 2.78% the prior week. The five year CD rates remained in check with neither the average rate nor the highest rate moving in either direction.
The best six month CD rate on the enclosed table is an extended nine month CD that has been included from Plaza Bank with an interest rate of 2.55%. The highest true six month CD comes Wilshire State Bank that is offering a six month CD with a yield of 2.52%. The best one year CD rates follow the same pattern where the highest rate is an extended 18 month term CD from One West Bank earns a rate of 2.70% and the best true one year CD rate is at 2.65% that is promoted by Plaza Bank.
The best two year CD rate is now a product of First Republic Bank with their new promotional CD that yields 2.80%. This move pushed American Plus Bank down a notch with their two year CD that continues to offer an interest rate of 2.78%. The five year bank CDs remained stagnant with First Republic Bank remaining the term leader with a rate of 3.75% followed by Broadway Federal Bank that has a five year CD rate of 3.56%.
The best certificate of deposit rates in California were down modestly for the week ending May 22, 2009. The six month CD rates and five year CD rates continue to match or beat the best national bank CD rates; however the mid term CDs, one year CD rates and two year CD rates, are now lagging the best national rates. The highest six month CD rate stands at 2.32%, a product of American Plus Bank. The highest bank rate on the accompanying table is a nine month CD that is significantly higher than the competition and was added to the list for consideration. This nine month CD is offered by Plaza Bank and yields 2.65%.
In the one year CD rate category, Plaza Bank is the leader with a one year CD that has an interest rate of 2.75%. This rate is just five basis points or 5/100 of a percent below the best national rate of 2.80% set by Ally Bank which is the old GMAC Bank with a new name. One West Bank is added in this list for consideration with exceptional circumstances since it is technically an 18 month CD but the yield of 2.75% makes the bank product noteworthy.
The list of the banks with the highest CD rates on a two year term was mostly unchanged however, the best two year CD rate in California dropped by two basis points for the week. The best CD rate stands at 2.78% down from 2.80% the previous week; this CD rate is offered by American Plus Bank. The previous two year CD rate leader, First Republic Bank, drops to second position after reducing the rate on their two year CD to 2.75%. The range of two year CDs remains fairly tight with the lowest rate on the list a two year CD from Community Business Bank with a yield of 2.55%.
The rates on the five year CDs in California dropped as First Republic Bank reduced the rate on their five year CD from 3.85% to 3.75%. First Republic’s five year CD remains the best CD rate after the rate reduction and matches the best national rate. The second best CD rate drops appreciably with Broadway Federal Bank marketing a five year CD that has an interest rate of 3.56%. CD rates in this term have little depth and continue to tumble with the lowest rate dropping down to 3.10%.
A combination of the best certificate of deposit rates inching up on the national list with the reduction in some of the top offers for CD rates in California has changed the dynamics for the best CD rates in California for the week ending May 8, 2009. The highest CD rates in the state are above the national rates in only two CD term categories now, the six month term CDs and the five year term CDs. The margin between the best state CD rates and the best national CD rates has also narrowed for those term CDs.
The best six month CD rate in California continues to be the product of Plaza Bank with a six month CD that yields 2.50%. The next best rate drops down to 2.32% and is being offered by American Plus Bank located in Arcadia. A nine month CD promoted by Pacific State Bank comes up next with an interest rate of 2.26%. One basis point or 1/100 beneath this rate is the six month CD of United Central Bank with a rate of 2.25%. All of these top six month CD rates are unchanged from the previous week.
The highest one year CD rate is also a product of Plaza Bank. Plaza Bank’s one year CD stands at 2.75%, unaltered from the previous week. The remainder of the top one year CD rates moved around quite a bit with some banks dropping off altogether. Pacific State Bank has the second best CD rate with a promotional odd term, 15 month CD that has an interest rate of 2.65%. Vineyard Bank’s one year CD rate of 2.56% moves up to third place. One basis point behind Vineyard is the one year CD of Cal National Bank which earns a rate of 2.55%. American Plus Bank and San Diego National Bank round out the list with one year CD rates of 2.53% and 2.50%, respectively.
First Republic Bank has reduced the rate on their two year CD down to 2.80%. This rate is the highest two year CD rate in California but now falls below the best national rate promoted by GMAC Bank at 2.90%. American Plus Bank remains in second position with a two year CD that has an interest rate of 2.78%. Temecula Valley Bank and San Diego National Bank continue to hold the next with two year CD rates of 2.65%. Imperial Capital Bank and United Central Bank conclude the list, unchanged from last week, with two year CD rates at 2.60%.
The highest CD rates in the five year term category for California continue to dominate the CD rates offered on the national list. First Republic Bank remains ahead of the pack for this term with a five year CD rate of 3.85%. This is rate is 15 basis points lower than what First Republic was offering last week. Second spot continues to be held by two different banks that are the same. US Bank and Downey Savings both offer CD rates at 3.75%. Downey Savings has reduced their rate from 3.85% the previous week. Downey Savings was a victim of FDIC closure after making a mind-boggling amount of option ARM mortgages that subsequently defaulted at mind-boggling rates. US Bank picked up the pieces from the FDIC and is now integrating the bank into US Bank operations.
All of the best CD rates in California are above the best national rates with the exception of the one year CD rate category. The best six month CD rate in California continues to be offered by Plaza Bank. Plaza has a six month CD that has a hefty minimum deposit of $25,000 but earns an equally hefty rate of 2.50%. American Plus Bank has a six month CD that earns a rate of 2.32% that matches the best national CD rate. Behind this rate is the nine month CD of Pacific State Bank that has an interest rate of 2.26%. County Bank and United Central Bank come in next with CD rates of 2.25%. United Central Bank offers this rate on a six month CD while County Bank has this rate on a seven month term certificate of deposit.
The best one year CD rates in California are also led by Plaza Bank. Plaza Bank has a one year CD with a rate of 2.75%. Two banks offer one year CD rates that are 10 basis points behind this rate. County Bank and Pacific State Bank continue with their certificate of deposit offers at 2.65%. Cal National Bank is five basis points further back with a one year CD yield of 2.60%. Vineyard Bank is next with a one year CD of 2.57% and the list ends with a ten month CD from 1st Pacific Bank that has an interest rate of 2.55%.
The best two year CD rate in California remains above the best national rates though the yield is slightly lower than the previous week. First Republic Bank has a two year CD with an interest rate of 3.00% that leads the state. American Plus Bank has a two year CD with a rate of 2.78% that is unchanged for the previous week and stays in second position. Two banks, Temecula Valley Bank and San Diego National Bank, have two year CDs with rates of 2.65%. Two more banks, Imperial Capital Bank and United Central Bank, round out the list with CD rates at 2.60%.
The best five year CD rates in California continue to outpace the national rates and most other state rates. The highest CD rate in California is presented by First Republic Bank with five year CD rate of 4.00%. Downey Savings did share this position but has dropped their rate to 3.85% and moves to second position. US Bank continues their offer on a 59 month CD that yields 3.75%. A big step down to 3.56% is the five year CD of Broadway Federal Bank.