Excel National Bank CD Rates and Review
Excel National Bank, although located in Beverly Hills, California, can accept deposits from consumers nationwide. They provide a large variety of both personal and business banking products. Their online presence is still relatively new and many pages within their site are still “coming soon.” They have been online since 2008.
Excel National Bank can handle your needs if you are in the market for certificates of deposit, money market accounts, IRA products, SBA loans, business loans and personal loans. Generally speaking, Excel is capable of offering CD rates with yields exceeding the national average (rates listed below). Because they have a focus of online banking, they can cut the costs in which most traditional brick and mortar banking institutions incur.
Current Deposit Rates offered through Excel National Bank:
- 3 month CD rate yielding 0.65% APY with minimum deposit of $10k required.
- 3 month CD JUMBO rate yielding 0.65% APY with minimum deposit of $100k required.
- 6 month CD rate yielding 1.20% APY with minimum deposit of $10k required.
- 6 month CD JUMBO rate yielding 1.20% APY with minimum deposit of $100k required.
- 12 month CD rate yielding 1.50% APY with minimum deposit of $10k required.
- 12 month CD JUMBO rate yielding 1.20% APY with minimum deposit of $100k required.
- 24 month CD rate yielding 1.95% APY with minimum deposit of $10k required.
- 24 month CD JUMBO rate yielding 1.95% APY with minimum deposit of $100k required.
Features, Terms and Conditions:
*APY = Annual Percentage Yield
(1) Variable Rate Account-Rates may change after accounts are opened.
(2) Fees and withdrawals could reduce the earnings on accounts.
(3) A penalty may be imposed for early withdrawal.
(4) Certificate of Deposit Interest will be compounded daily and credited to the account at maturity. For all other interest bearing accounts the interest will be compounded daily and credited to the account when the periodic statement is produced.
The current national average for 6 month CDs and 12 month CDs sit at 0.78% APY and 1.17% APY, respectively.
Deposit rates accurate as of June 4, 2010. Excel National Bank is federally insured by the FDIC.
