As we’ve been conducting our coverage of 2011′s CD rates offered by the largest banks in the US, we haven’t seen much variation in rates from major banking institutions. Across the board, they’re all offering rates that are SIGNIFICANTLY under the current national average (regardless of your deposit size). Some institutions make feeble attempts at offering “special” or “promotional” deposit products or “add on” options which, while they come with exciting names, tend to lack any additional substance.
US Bank’s CD rates (California) – Today’s Coverage
(Rates accurate as of April 2011.)
US Bank’s CD rates in California (and available online) are slightly better than the other major banks, but again, host rates which are still under the current national average. And if you’re strictly hunting for a high annual percentage yield you’re better off stopping by a local credit union or opening an account with an online bank. Below are the current rates and products offered by US Bank’s California branches. The products we’ve listed below come with oddball maturities and can be opened online.
- 19 month CD yielding 1.15% APY with a minimum deposit requirement of $1,000.
- 37 month CD yielding 1.75% APY with a minimum deposit requirement of $1,000.
- 59 month CD yielding 2.50% APY with a minimum deposit requirement of $1,000.
Additional US Bank CD Products:
Step Up CD – With a U.S. Bank Step Up Certificate of Deposit (CD), you can invest in a CD with a guaranteed increasing interest rate for a step in the right direction. – US Bank
Trade Up CD – With a U.S. Bank Trade Up Certificate of Deposit (CD), you can invest in a long-term CD and still have the option to change to a higher rate. – US Bank
Both the “Step Up CD” and the “Trade Up CD” are similar product concepts found with Bank of America’s “Opt-Up” CD. You can review Bank of America’s CD Rates in 2011 here.