Best 6 month CD rates in California beat national avg by 85%

Although we have seen six month CD rates rise a bit recently – perhaps due to the rapid increase in mortgage rates over the last two weeks -  we’re still seeing the top 6 month CD rates in California ahead of the national average by nearly 85%. As of last Friday, 6 month CD (certificate of deposit) averages were nearing 0.81% APY, and one bank in California is offering nearly 1.50% APY on their 6 month CDs if you can manage a deposit of $5000.

United Pacific Bank, a small bank based out of the City of Industry, California is offering new and existing customers a 6 month CD yielding 1.48% APY. The rates associated with their deposits are actually set up in tiers. You can earn the 1.48% APY on deposits from 180 – 364 days. If you opt for a 1 year CD (or a CD maturing between 365 days to 17 months) you can earn 1.68% APY. The national average for 12 month CDs sits at roughly 1.20% APY.

United Pacific Bank is a private commercial bank specializing in commercial and international banking products for emerging middle-market companies. Their primary business and areas of expertise (as they refer to it) include corporate commercial banking, real estate finance, small business administration and corporate finance.

Branch Locations and Contact Info:

1630 S. Azusa Ave.
City of Industry, CA 91748
Tel: (626) 965-6230 begin_of_the_skype_highlighting (626) 965-6230 end_of_the_skype_highlighting
Fax:(626) 965-2840

101 W. Garvey Ave.
Monterey Park, CA 91754
Tel: (626) 312-2080 begin_of_the_skype_highlighting (626) 312-2080 end_of_the_skype_highlighting
Fax:(626) 312-2088

Best CD Rates in Sacramento, CA: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Sacramento, California. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Sacramento as well as central California, we found that for the most part, you will be able to receive slightly better rates with national institutions than with local ones.

Best CD Rates in San Jose, CA: Top 3

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. These come in the form of 6 month CDs, 12 month CDs and 24 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.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

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.

Best 6 month CD rates in San Diego, CA:

• Hanmi Bank has a six month CD yielding 1.86% APY with a minimum deposit of $1,000 required.
• First Bank (San Diego branch) has a 6 month CD as well as a 9 month CD yielding 1.65% APY with a minimum deposit of $1,000 required.
• La Jolla Bank FSB has a 6 month CD yielding 1.65% APY with a minimum deposit of $10,000 required. 

Best 12 month CD rates in San Diego, CA:

• Metro United Bank has a 12 month CD yielding 2.0% APY with a minimum deposit of $5,000 required. 
• Pacific Trust Bank (San Diego branch) has a 13 month promotional CD yielding 2.0% APY with a minimum deposit of $5,000 required.
• San Diego National Bank out of La Jolla has a 12 month CD yielding 2.0% APY with a minimum deposit of $1,000 required. 

Best 24 month CD rates in San Diego, CA:

• Hudson City Bank has a 24 month CD yielding 2.50% APY with a minimum deposit of $5,000 required. This is a national institution and can accept deposits from any state.
• La Jolla Bank has a 24 month CD yielding 2.30% APY with a minimum deposit of $10,000 required. 
• Imperial Capital Bank has a 24 month CD yielding 2.26% APY with a minimum deposit of $2,000 required. 

Best CD Rates in San Francisco, CA: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of the Bay Area (San Francisco, CA). The institutions we will cover all include the following cities in California: Oakland, Santa Clara, Santa Cruz, Saint Luis Obispo, San Mateo, Berkley, Bellmont, Palo Altos, Fairfield, Walnut Creek and Vallejo. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of San Francisco as well as the state of California, we found that for the most part, you will be able to receive slightly better rates with local institutions than with national ones.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

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.

Best 6 month CD rates in San Francisco, CA:

• Pacific Service Credit Union (San Fran branch) has a 6 month CD yielding a whopping 3.50% APY with a minimum deposit of $1,000 required. This credit union has a strict eligibility check-list for membership.
• Far East National Bank has a 6 month CD and an 11 month CD yielding 2.0% APY with a minimum deposit of $5,000 required.
• Hanmi Bank (San Francisco) has a 6 month CD yielding 1.86% APY with a minimum deposit of $1,000 required.

Best 12 month CD rates in San Francisco, CA:

• Far East National Bank has the 11 month CD yielding 2.0% APY with a minimum deposit of $5,000 required.
• Metro United Bank has a 12 month CD yielding 2.0% APY with a minimum deposit of $5,000 required.
• iGoBanking has a 12 month CD yielding 2.0% APY with a minimum deposit of $1,000 required. This is an online bank which can accept deposits from any state.

Best 24 month CD rates in San Francisco, CA:

• Hudson City Savings Bank has a 24 month CD yielding 2.50% APY with a minimum deposit of $5,000 required. This is a national bank as well and can accept deposits from any state.
• Pacific National Bank has a 24 month CD yielding 2.30% APY with a minimum deposit of $1,000 required. 
• GateWay Bank (San Francisco) has a 24 month CD yielding 2.35% APY with a minimum deposit of $10,000 required.

Best CD Rates in Los Angeles, CA: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Los Angeles, CA. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Los Angeles as well as the state of California, we found that for the most part, you will be able to receive slightly better rates with local institutions than with national ones.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

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.

Best 6 month CD rates in Los Angeles, California:

• United Pacific Bank has a 6 month CD yielding 1.88% APY with a minimum deposit of $2,500 required. They have locations throughout the general LA area, primarily operating out of Monterey.
• Hanmi Bank has a 6 month CD yielding 1.86% APY with a minimum deposit of $1,000 required. They have locations in both LA and Gardena, CA.
• California Business Bank (Los Angeles branch) has a 6 month CD yielding 1.77% APY with a minimum deposit of $10,000 required.

Best 12 month CD rates in Los Angeles, California:

• Baxter Credit Union has a 12 month CD yielding 2.50% APY with a minimum deposit of only $50 required. Baxter CU primarily operates out of Los Angeles, however membership may be difficult to obtain.
• American Airlines Federal Credit Union (Los Angeles branch) has a 12 month CD yielding 2.12% APY with a minimum deposit of $10,000 required. 
• First Entertainment Credit Union has a 12 month CD yielding 2.09% APY with a minimum deposit of $1,000 required. They have locations (either physical branch or ATM) in the greater LA area, but primarily operate out of Hollywood, CA.

Best 24 month CD rates in Los Angeles, California:

• Mutual of Omaha Bank has a 24 month CD yielding 2.35% APY with a minimum deposit of $1,000 required. They have locations in Los Angeles.
• Imperial Capital Bank has a 24 month CD yielding 2.33% APY with a minimum deposit of $2,000 required. This branch is located in Beverly Hills, CA.
• State Bank of India (formerly IndyMac) is headquartered in LA and is offering a 24 month CD yielding 2.30% APY. This is a national bank and can accept deposits from customers nationwide.

Pleasanton, California certificate of deposit rates

Below are the top 3 CD rates available to residents in Pleasanton, California. The best rate comes from Patelco credit union. We have covered this credit union a few times in the past because of their superb 12 month CD yielding an unheard of 7.0% APY. Obviously there is a catch with this deal though, and that is you can only invest up to $1000. The second and third best CD rates available to Pleasanton residents have no maximum deposit amounts, however your money will only be federally insured (by the FDIC) up to $250,000. After researching local credit unions and banks in this region, I have found the best CD rates to come in the form of 1 year CDs, 2 year CDs, and 5 year CDs. You may want to scroll through our archive of CD rates in California or compare CD rates nationwide to make sure you are getting the most bang for your buck. In general local banks and credit unions serving the Pleasanton area will offer similar rates to those offered by national banks. In some cases you will receive more lucrative rates from national banks than you will from local ones in this region.

Top 3 CD rates (Pleasanton, California)

(these rates may be available outside Pleasanton as well)

Patelco Credit Union: Hayward, California. 12 month CD yielding 7.0% APY with a MAXIMUM deposit amount of $1,000. Patelco CU offers it’s members a wide range of financial products from home loans and insurance to savings products and IRA’s. They claim to be one of the most financially sound credit unions in the country and also claim to have avoided the sub-prime lending frenzy. They are a not-for-profit member-owned financial institution.

CitiBank, National Association: Dublin, California. 25 month CD yielding 2.40% APY with a minimum deposit amount of $5,000. This product is not exclusively available at CitiBank’s Dublin, CA branch. This is a nationally available product. CitiBank also has a checking account sign-up bonus to new customers.

US Bank, National Association: Dublin, California. 59 month CD yielding 4.0% APY with a minimum deposit amount of $1,000. Again, this is another product available to customers nationwide.

If you reside in Pleasanton, CA or the surrounding area and know of a local rate that is higher than the ones listed above, please share by leaving a comment!

Patelco Credit Union’s New Member Certificate: 7.0% APY!

Patelco Credit Union out of San Francisco, California has a very enticing offer for prospective customers. Currently, if you are new to their credit union, they have a 12 month CD (certificate of deposit) yielding an astounding 7.00% APY! Don’t get too excited over this offer if you had planned on investing in a 12 month jumbo CD as this offer has a $1,000 maximum (and minimum) deposit.

Patelco Credit Union’s 12 month new member CD terms and conditions:

• Available for a limited time.
• Funds deposited to this account must come from an institution other than Patelco.
• Minimum deposit $1,000, maximum deposit $1,000.
• Account available to new members only-must open a new membership.
• One certificate per member.
• Not available as an IRA certificate.

If you are looking to invest a larger chunk of money (>$1,000) in an FDIC insured investment, then I wouldn’t count on Patelco Credit Union for any great rates. Other than their promotional 12 month new member certificate, their rates are fairly underwhelming. The next best CD rate they offer is a 60 month CD with an APY of 2.55%.

Who offers the best 6 month CD rates? Maybe your current bank.

6 month CD’s tend to be one of the most popular maturities for certificate of deposit savers. And we know right now is not the best time to find high yielding 6 month CD’s, but before you consider a longer maturity with a slightly higher rate, consider the following.

There was an excellent special on CNN the other day illustrating the tactics regular people are using to save a little extra money. Many people are taking second looks at their monthly expense sheets and figuring out some decent cost cutting opportunities.

In the clip it shows a family get a 20% discount on their credit card payments, and another family receive a 25% discount on their monthly cell phone bill. How? By bringing up competitors’ rates and politely demanding that they match it …or they walk.

Can this be applied to savings accounts and certificates of deposit?

Here is the best 6 month CD rate that I have found. It comes from Wilshire State Bank of California and carries an APY of 2.53%. Before looking to open a new account with a new bank, see if your current bank is willing to match the 2.53% savings rate.

It just might work…

Pacific Transportation Federal Credit Union’s 9 month CD rate

An outstanding 9 month CD rate was pointed out to us over the weekend by BankVibe reader Riza. Currently Pacific Transportation Federal Credit Union of Los Angeles, California is offering a 9 month CD yielding 3.0% APY for new money deposits. This is nearly double the national average for 1 year CD rates!

The 3.0% APY certificate of deposit with maturities under 2 years is a fairly elusive creature currently, usually only showing itself in smaller local credit unions and banks. If you happen to find a nationally available savings rate of above 3% with a VARIABLE INTEREST RATE odds are it’s a teaser rate. (Note that this rate is fixed.)

Certificate of deposit rates offered through Pacific Transportation Federal Credit Union:

9 month CD – 3.0% APY

3 year CD – 3.0% APY

4 year CD – 4.0% APY

5 year CD – 5.0% APY

All of these deposits come with a minimum investment amount $3k. Rates became effective March 30, 2009.

Who can join Pacific Transportation Federal Credit Union:

If you live or work in the greater Los Angeles area then there is a decent chance you are eligible for a membership with Pacific Transportation Fed Credit Union. If you work for one of their roughly 150 participating companies you are automatically eligible. Click here to view the company list.