Dedicated to Deposits: Deals, Data, and Discussion

5.50% 3-Month CD at a Los Angeles Bank (California Business).

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California Business Bank is offering a special 5.50% APY 3-month certificate of deposit. The minimum deposit is $50,000. This special doesn't seem to be listed at the bank's website. A reader mentioned seeing this special advertised in yesterday's LA Times (1/16/08).

I just called the bank for additional details. The banking rep did not know how long this would last. I was told that it requires a branch visit to open. They're located in LA on 800 W. Sixth Street, Suite 1000.

The bank is FDIC insured (Certificate # 58037). It's a rather new bank that was established in 2005. It has a rating of 4 out of 5 stars (sound) at Bankrate.com based on 9/30/07 data. They just recently reported a net profit for both the 4th quarter and for 2007.

Thanks to the reader who emailed me this info.
  Tags: California Business Bank, California, CD rates

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