CD Rates in Texas and California with Beal Bank

The financial services marketplace has changed profoundly in recent months.  Financial education can help consumers become more confident about the future by offering them the knowledge to make sound money management decisions.  The work of selectcdrates.com is to help educate consumers by finding the best banking products and services that will make their financial life easier.  As a component of that assignment, we review the CD rates and other bank products at banks across the U.S.  Today’s stop involves CD rates offered in Texas and California by Beal Bank

One of the largest private financial services firms based in Texas, Beal is a wholesale bank that buys and sells pools of loans and debt securities on the secondary market. It also engages in more traditional banking activities, offering certificates of deposit, money market accounts, IRAs, and savings accounts to businesses and consumers nationwide.  The bank has three offices in Texas, two in Dallas and one in Houston and three in California; Los Angeles, Newport Beach, and San Francisco.  Beal Bank was founded in 1988.  Beal Bank has capital in excess of $400 million and assets in excess of $1.6 billion as of June 30, 2008.  Beal Bank is also an affiliate of Nevada chartered Beal Bank Nevada.

The banks activities in lending and related business activities include commercial real estate acquisition and developments; individual loan and loan portfolio acquisitions; financing and funding loans; and participations in loans secured by tangible assets in industries, such as real estate, gaming and lodging, energy, power and gas, manufacturing, timber, and transportation and distribution.  Beal Bank does not originate commercial or residential loans, but the Bank is active in the secondary market for the purchase of loans and portfolios of loans.  Beal Bank offers FDIC insured term deposit accounts through certificates of deposit or CDs, money market accounts, and other products.  Beal Bank does not offer retail banking services such as consumer loans and checking accounts.

The bank offers deposit customers very competitive rates on the FDIC insured certificates of deposit (CDs), money market accounts, and other products.  The banks no frills approach to consumer products is designed to pass cost savings on to customers.

The following bank CD rates are Beal Bank online CDs.  The interest rates and other terms offered on this website are available only for new accounts or renewals processed through this website and may not be available at Beal Bank branch locations.

One month CD that has an interest rate of 1.31% APY.
Two month CD with an interest rate of 1.31% APY.
Three month CD which yields a rate of 1.41% APY.
Six month CD that has an interest rate of 1.51% APY.
Nine month CD that has an interest rate of 1.76% APY.
One year CD with an interest rate of 1.91% APY.
18 month CD which yields a rate of 2.26% APY.
Two year CD that has an interest rate of 2.26% APY.
30 month CD that has a yield of 2.26% APY.
Three year CD with an interest rate of 2.26% APY.
Four year CD with an interest rate of 2.76% APY.
Five year CD that also has an interest rate of 2.76% APY.

All of these Texas and California CD rates are subject to change daily.  The minimum deposit to open a CD account and receive the listed CD rates is $1,000.00.

Money market accounts are another popular savings product.  Because money market accounts have no fixed term or maturity, your funds are always available, making this an excellent way to save for short savings, but still offer a higher rate than regular savings or interest bearing checking accounts. Beal Bank money market accounts require a minimum balance to open of $1,000.00.  The interest rate on this account starts at.75% with the minimum deposit and increases to 1.25% APY for balances over $25,000.00.

For current bank rate information, the bank can be reached by phone at 877-879-2325.  Further rate information can be seen on the bank website at www.bealbank.com.  Additional conditions may apply.

Tags: Banks, best CD rates, CD rates, CD rates California, CD rates Texas, rates, savings

This entry was posted on Thursday, January 15th, 2009 at 3:17 pm 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.