CD accounts are beneficial for consumers who want to earn higher rates of interest for specific terms.  In the quest for the best CD rates in California, a small bank in Mendocino County stands out.  The Savings Bank of Mendocino County has been in the banking business since 1903.  The bank has a wide variety of general bank services to choose from.  Whether a customer wants a checking account, savings account, a top rate CD or needs a personal loan or mortgage, Savings Bank of Mendocino County has a product to meet these needs.

The bank has nine bank branches in the region in which to open a bank CD.  Savings Bank of Mendocino County is offering the following CD rates and terms at the present time:

32 thru 91 day CD that earns an interest rate of 1.00% APY.
92 thru 182 days CD which yields a rate of 1.26% APY.
183 thru 364 day CD with an interest rate of 1.86% APY.
12 to 24 month CD has an interest rate of 2.02% APY.
24 to 36 month CD that earns an interest rate 2.12% APY.
36 to 60 month CD that also earns and interest rate of 2.12% APY.
And the 60 month maximum term CD has an interest rate of 2.52% APY.

Rates are fixed for the term of CDs.  The annual percentage yield assumes interest remains on deposit until maturity, a withdrawal will reduce earnings.  These CD rates and terms require a minimum deposit of $10,000.00.

For those bank customers that want security, convenience and liquidity the bank money market may be a better choice.  The money market account has interest that is compounded daily, paid monthly but does have a interest rate that is variable.  The interest rate on the money market is tiered based on the balance.  The opening balance is $2,500.00 and balances of that amount earn an interest rates of .50% APY.  The interest rate increases to 1.26% APY for balances between $25,000.00 and $49,999.99.  And the interest rate can increase to 1.76% APY for balances in excess of $100,000.00.

The bank provides other services to assist both the individual and the business owner.  The bank has a 24 hour banking service which allows the bank customer to do their banking when it is best for them.  The bank also offers free online banking.  Online banking allow the bank customers to view account balances and transactions, transfer funds between accounts if needed, see check images online as well as pay bills online.

For more information about Savings Bank of Mendocino County products and services, call during banking hours 707-462-6613.  The bank web address is www.savingsbank.com.  Interest rates are subject to change and additional conditions may apply to open a CD or money market account.

Tags: , , , ,

No user commented in " CD Rates in California with Small Local Banks "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)