Best CD Rates in San Diego, CA: Top 3

January 4, 2013 1 Comment »
Best CD Rates in San Diego, CA: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of San Diego, California. The institutions we will cover all include the following cities in Southern California: Coronado, National City, Chula Vista, La Jolla, El Cajon, Santee, Lemon Grove, Winter Garden, and Imperial Beach.

The bank deposits come in the form of 6 month CDs, 12 month CDs and 60 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of San Diego as well as southern California, we found that for the most part, you will be able to receive slightly better rates with national institutions than with local ones.

In smaller towns, membership-based and not-for-profit credit unions can usually offer slightly better rates due to the simple fact that they aren’t trying to turn a profit. Online banks on the other hand, have an upper hand as well as these institutions, while FDIC insured, are largely automated – with far less employees than traditional banks. This allows them to offer higher rates on savings products from the savings garnered in lack of overhead expenditures.

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Top CD Rates in San Diego, CA Area (Local Only):

Institution
Product
APY
Min. Deposit
Contact
Metro United Bank 6 Month CD 0.85% $100,000 (858) 496-3800
Neighborhood National Bank 6 Month CD 0.75% $10,000 (619) 239-3360
Beal Bank 12 Month CD 1.01% $1,000 (619) 894-8066
Pacific Mercantile Bank 12 Month CD 0.90% $100,000 (858) 320-8400
Compass Bank 60 Month CD 2.00% $500 (858) 451-0760
Vibra Bank 60 Month CD 1.66% $2,500 (619) 422-5300
All of the above institutions are federally insured by either the FDIC or NCUA. If you live in the city of San Diego, CA and know of a better interest rate offered through your local bank or credit union, please share by leaving a comment.

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  • Lynsey Consalvo

    CD rates are terrible. If you’re looking for interest on fDIC insured products go with money market accounts or treasury bonds until the FED raises rates.