5.60% 6-Month CD at a Los Angeles Bank (California Business)

California Business Bank is offering a special 5.60% APY 6-month certificate of deposit. The minimum deposit is $10,000 and the maximum is $100K. This CD requires the customer to open a money market account with a minimum initial deposit of $5,000. You can avoid monthly fees on this MMA with balances of over $1,000.

This special doesn't seem to be listed at the bank's website. A reader mentioned that the special was advertised in last Sunday's LA Times. I just called the bank (866-495-4042) and was given the above details. I was told that it requires a branch visit to open the accounts. They're located in LA on 800 W. Sixth Street, Suite 1000. The bank is FDIC insured (FDIC Certificate # 58037).

Thanks to the reader who emailed me the info on this CD.

Tags: California Business Bank, California, CD rates