Simplicity Bank based in Covina California is offering three new CD promotions that offer some of the best CD rates in the region.  The bank CD rate promotions are competitive for mid-term and long-term maturities.  The rate increases put these accounts above the competition and well above the national average rate for comparable term CDs. 

Simplicity Bank is currently promoting a two year certificate of deposit in California that has a yield of 0.90%, a three year CD with an interest rate of 1.25%, and a five year certificate that yields 1.75%.  All of the bank CDs in the promotion require a minimum deposit of $10,000.00.  All accounts come with free online banking and eStatements from the bank.

The high yield CD rates can be obtained throughout the region served by the bank including the branches in Covina, Pasadena, Downey, Fontana, Los Angeles, Harbor City, Panorama City and Santa Clara, California.  Additional information can be obtained by calling one of the Simplicity Bank customer representatives at 800-524-2274.

The CD rates offered by Simplicity Bank are between two and three times the national average.  Based on the most recent data supplied by the FDIC for July 21, the national average rate for a two year certificate is 0.33%, the average rate for a three term CD is 0.59% and the average for the five year bank CD is 0.77%.  Simplicity’s rates stand well above theses rates.

The certificates of deposit are subject to a penalty for early withdrawals that are made prior to the date of maturity.  Fees or premature withdrawal of funds could reduce the earnings on the account.  The listed bank rates and terms are subject to change without notice.

Simplicity Bank is a federally chartered savings bank headquartered in Covina California.  The bank operates seven branches in California, as well as a statewide network of 45 ATMs.  Simplicity Bank is a full-service bank that provides checking and savings accounts, money market deposit accounts, certificates of deposits, holiday club accounts, individual retirement accounts, secured and unsecured loans, vehicle loans, home loans, home equity loans, income property loans and related banking products and services.

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