First Choice Bank CD rates notably higher than national average

July 27, 2011 No Comments »

Thanks to BankVibe.com reader Heather for forwarding us a noteworthy 12 month (err…366 day) CD rate coming from First Choice Bank of California. After compiling a list of the highest CD rates in California a little while back, Heather noted one that slipped under our radar that should be added to our top CD rates of 2011 list.

Below are the details regarding this product and other deposit rates from First Choice Bank.

First Choice CD Rates, Terms and Conditions:

(Rates accurate as of August 2011. Visit FirstChoiceBankCA.com for updated rates and information or visit our CD rates center for updated rates from around the country.)

First Choice Bank of California breaks down their deposit products in terms of days and amount of money invested. So for example, if you keep your money in a 12 month CD (365 days) and invest between $2,500 and $50,000 you’ll receive an APY of 1.20%, however, if you opt for a 366 day CD (one day over one year) you’ll get an APY of 1.30% AND if you invest between $50,001 and $499,999 you’ll get your rate bumped up a little more to 1.35% APY.

Complete list of rates:

DAYS $2,500 to $4,999 $5,000 to $49,999 $50.000 to $99,999 $100,000 to $499,999 $500,000 and up
APY APY APY APY APY
7 to 29 N/A N/A N/A 0.40% 0.40%
30 to 91 0.60% 0.60% 0.60% 0.60% 0.60%
92 to 182 0.80% 0.80% 0.85% 0.85% 0.80%
183 to 287 1.00% 1.00% 1.10% 1.10% 1.00%
288 to 365 1.20% 1.20% 1.25% 1.25% 1.20%
366 to 540 1.30% 1.30% 1.35% 1.35% 1.30%
541 to 730 1.50% 1.50% 1.60% 1.60% 1.50%
36 Months 1.80% 1.80% 1.90% 1.90% 1.80%
48 Months 2.00% 2.00% 2.10% 2.10% 2.00%
60 Months 2.30% 2.30% 2.40% 2.40% 2.30%

One word of caution – according to their website their rate tables have not been updated since December of 2010.

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