The name El Dorado has been given many meanings over time; most variations are references to a place to acquire wealth or a city of gold.  In California the name of locations with El Dorado is often used to signify regions that were involved in gold mining.  Unfortunately, gold mining is no longer a quick shot a wealth in California as it once seemingly was.  Unless, we look at it metaphorically when we reference that gold mining is the search for the best CD rates like the ore found in the certificates of deposit offered by El Dorado Savings Bank. 

Well, that opening gets an “A” for effort at least.  El Dorado Savings Bank is in fact a bank located in the gold country of California.  The bank was established in Placerville in 1957.  El Dorado Savings Bank is chartered as a Savings Association; therefore the primary regulator is the Office of Thrift Supervision.  The bank has total assets of approximately $1,625,268,000.  Through the first three quarters of 2008, the bank had net income of $8,965,000.  Based on the last report by the FDIC, the bank had noncurrent loans as a percentage of total loans at 0.10%.  During this period when many banks are having profit troubles or falling short of regulatory capital, the bank Tier 1 risk based capital ratio was a stunning 33.63% at the end of the September, 2008.

El Dorado Savings Bank has 35 bank branch locations.  The bank offers competitive savings programs to local residents while promoting home ownership through construction, purchase and refinance home loans.  El Dorado Savings Bank offers a wide range of deposit accounts including, checking, savings, money market and certificates of deposit (CDs).  The CD rates and terms offered by the bank are bountiful like an old California river bank teaming with nuggets of gold ore on its shore.

1 month CD rate is1.40% APY
2 month CD earn an interest rate of 1.45% APY
3 month CD rate is 1.55% APY
4 month CD has an interest rate of 1.65% APY
5 month CD yields an interest rate of 1.65% APY
6 month CD rate is also1.65% APY
7 month CD rate is the same at 1.65% APY
8 month CD earn the rate of 1.65% APY
9 month CD rate is 1.65% APY
10 month CD rate is at 1.65% APY
1 year CD rate is 1.65% APY
14 month CD earns a rate of 1.75% APY
15 month CD has an interest rate of 2.00% APY
18 month CD rate is also at 2.00% APY
2 year CD rate is 2.00% APY
25 month CD earns a rate of 2.10% APY
30 month CD yields a rate of 2.15% APY
3 year CD rate is 2.50% APY
5 year CD rate is 2.80% APY

CD rates are subject to change for further information about applicable interest rates, fees and terms contact the bank’s customer service at 1-800-874-9779.  General account information and savings rates including CD rate are also available online, the bank web address is www.eldoradosavingsbank.com.

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