California CD rates were a mixed bag for the week ending April 17, 2009.  The short term rates were lower with most CD rates not reaching the best national rates, the long term CD rates edged higher with the best two and five year CD rates just inching above the best national rates.

American Plus Bank is leading the short term list with a six month CD that yields 2.32%.  Next in line comes Pacific State Bank’s nine month CD that has a rate of 2.26%.  The remainder of the list is a series of banks including United Central Bank, County Bank, Sterling Bank & Trust and First Republic Bank that all offer CDs with a rate of 2.25%.

California’s best one year CD rates start 10 basis points below the best national rates.  County Bank and Pacific State Bank leads off with identical CD rates of 2.65%.  The County Bank CD is for a 13 month term while the Pacific State Bank CD is on a 15 month term.  The next best rate is a straight two year CD promoted by Cal National Bank at 2.60%.  The final bank on the best one year CD rate list is 1st Pacific Bank with a shorter term, 10 month CD that has an interest rate of 2.55%.

In the two year CD rate category, First Republic Bank steals the show.  First Republic Bank has a two year CD with an interest rate of 3.25%.  Second spot is almost 50 basis points lower with the two year CD at American Plus Bank that has an interest rate of 2.78%.  This list stays close from here, with FirstBank displaying a two year CD at 2.70% and continues down to Imperial Capital Bank offering a two year CD that earns a rate of 2.60%.

Two banks in California are offering five year CD rates at 4.00%, 20 basis points above the best national rates.  Both First Republic Bank and Downey Savings offer five year CD rates at 4.00%.  Behind these two financial institutions is US Bank with a 59 month term and a yield of 3.75%.  The best CD rates drop off rather sharply form here with the list concluding with the five year CDs of Temecula Valley Bank that are currently being offered at 3.15%.

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