California First National Bank CD Rates and Review

CalFirst Bank, based out of Irvine, California, is an FDIC insured online bank that can accept deposits from consumers around the country. They offer a small array of banking products within the savings vertical and all of their accounts can be opened online. Their product offerings consist of money market accounts, certificates of deposit, interest checking and “premium savings.” These accounts all come with the option for ATM cards and online bill pay (if applicable).

How to Sign up Online:

Complete the online application form and click the submit button. They will then review your application, and if it’s approved, they will send you a new account opening kit via U.S. mail. Your kit will include a signature card for your review. Then just sign it and return it to us in the postage-paid envelope provided. You can also send them a check to open a deposit account.

Current CD Rates offered through California First National Bank:

- 3 month CD yielding 0.80% APY with a minimum deposit of $5,000 required.

- 6 month CD yielding 1.00% APY with a minimum deposit of $5,000 required.

- 1 year CD yielding 1.30% APY with a minimum deposit of $5,000 required.

- 2 year CD yielding 1.70% APY with a minimum deposit of $5,000 required.

- 3 year CD yielding 1.90% APY with a minimum deposit of $5,000 required.

* If you are opening one of these as IRA CD’s the minimum deposit required is just $2,000.

* Penalty will be imposed for early withdrawal.

* Interest rates accurate as of June 5, 2010. If this review is outdated please view our best CD rates tables for accurate rate information.

Pacific Mercantile Bank CD Rates and Review

Pacific Mercantile Bank, based out of Costa Mesa, California, is a publicly traded national bank (nasdaq: PMBC) which can accept deposits from consumers nationwide. They offer a full range of banking products – checking accounts, savings accounts, money market accounts, CD (certificate of deposit) accounts, mortgages and other loan products. 

Pacific Mercantile Bank’s current CD rates (as of Dec. 2009):

Additional Features with these accounts:

• No fees associated with these accounts
• Choose the term that’s right for you, from 30 days to 5 years
• FDIC insured
• The interest earned can be transferred monthly to any other PMB account
• Access to your account information using our Online Banking Solution
• Download account information to Intuit QuickBooks® or Microsoft® Money

The above annual percentage yields (APY) are accurate as of 12/1/2009. Rates on bank CDs are fixed for the term of the CD at the time of opening. For all other interest bearing accounts, the interest rate may change after account is opened. Rates offered are subject to change at any time without prior notice. Fees and early withdrawal penalties could reduce earnings on the above accounts.

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.

Highest yielding money market account rates in California

Below are the best money market account rates we have found serving residents in the state of California. After digging through a number of rate pages of local banks and credit unions we have found that national banks are able to provide more competitive interest rates the local California banks. The only credit union offering a lucrative interest rate was Provident CU and it is a promotional offer which is set to expire this year.

We had a pretty substantial debate on BankVibe last month on whether or not local banks and credit unions offered better products than the large national banks and concluded that it varied from state to state. Many states with high population density such as California tended to lean towards the national banks for more competitive rates, while states such as Kansas, Nebraska and Idaho tended to lean towards local institutions for the highest yielding interest rates.

Top 2 MMA (money market accounts) in California:

(clicking on the institution will bring you to their home page)

• Provident Credit Union: Redwood Shores, CA. Money market account yielding 2.0% APY. This is a promotional offer which is subject to change without notice. Their is no minimum balance associated with this account. Provident Credit Union also has a rewards checking account which features an APY of 3.50%. Like all rewards checking accounts, you must complete a list of monthly requirements to earn the advertised interest rate. Provident CU has several locations throughout California. They have branches in San Jose, Belmont, Daly City, Eureka, Folsom, Hayward, Los Gatos, Millbrae, Monterey, Oakland, Palo Alto, Redwood City, Redwood Shores, San Francisco, San Mateo, San Ramon and Walnut Creek. Joining Provident CU is based upon where you work, where you live, and who your family members are (is anyone in your family a member?).
• First Choice Bank: Cherritos, CA. Money market account yielding 2.0% APY with a minimum deposit amount of $10,000. The mission of First Choice Bank is to set a new banking standard where the customer always comes first. They claim that their primary goal is to understand the individual concerns and financial services needs of our customers, and to provide a prompt, professional and decisive response. First Choice Bank will strive to exceed the expectations of our customers and shareholders through vision, innovation, integrity, commitment and teamwork.

Both of the above institutions are federally insured by either the FDIC or NCUA. If you live in California and know of a better money market account offered through your local bank or credit union, please share by leaving a comment.

Bank of the Sierra’s Interest Checking Account: 4.51% APY

Bank of the Sierra’s interest checking account is still holding strong after many similar accounts have seen either drastic rate drops or increased membership exclusivity. A couple months ago we noted Bank of the Sierra’s high interest checking account and, surprisingly, not only has the rate remained high but it is still available to people throughout the United States.

The Bank of the Sierra was founded in 1977 and has had the same president serve since it’s inception. The physical branch locations reside in Tulare, Kern, Kings and Fresno counties and they claim to be the largest community bank serving California’s heartland.

Their mission statement is somewhat unique in that it gives specific metrics in which they excel:

To be responsible stewards for our shareholders by providing a superior return on equity of 15%+ and a return on average assets of 1%+ within a culture of discipline and ethical entrepreneurship. This is a fundamental stewardship responsibility.

Features of Bank of the Sierra’s High Interest Checking Account:

• Earn 4.51% APY on balances up to $25,000¹*
• Earn 1.01% APY on balances above $25,000 ¹*
• If monthly qualifications are not met, you still earn .12% APY*
• Reimburses up to $25.00 in ATM fees nationwide per statement cycle¹
• Free eStatement every month
• Free Sierra Bill Pay
• Free Sierra Check Card
• No monthly service charge
• Overdraft protection available with a savings account or apply for a line or credit. ²
• Only $50 to open

Qualifications to earn the advertised interest rate:

• Minimum 12 Sierra Check Card purchases per month
• Minimum one direct deposit or automatic payment from your account each month
• Make at least one bill payment online
• Receive eStatements
• Must be opened online

If you have experience with this bank, please share by leaving a comment!

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!