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 |
