Dedicated to Deposits: Deals, Data, and Discussion

3.90% 9-Month CD at a California Bank (PFF Bank & Trust).


Update 11/21/08: The bank has been closed. Please refer to this post for more details.

Update 4/26/08: The special CD is no longer listed at the bank's website.

PFF Bank & Trust is offering a special 3.90% APY 9-month certificate of deposit. The minimum deposit is $1,000, and the maximum balance is $90,000 with a limit of 2 per household.

There's a link to an online application in the CD promotional page. However, previous PFF Bank & Trust CD promotions like this have been limited to California residents. I've sent them an email asking about this. The online application allows the CD to be funded by ACH, check or wire transfer. There's also the option to fund it with a credit or debit card, but it warns that it'll be processed as a cash advance.

PFF started an nationwide online savings account last year. It's current yield is a little below average at 2.90% APY (see post).

Branches are located in Los Angeles, Orange, Riverside and San Bernardino counties. The bank is FDIC insured (FDIC Certificate # 28344). PFF Bank & Trust's rating at has fallen considerably since my last post. It's now 1 out of 5 stars based on 12/31/07 data (down from 3 stars last year). From recent news it appears PFF has been suffering from high amounts of loan losses.

Update 4/19/08: Updated the link to the CD special.

  Tags: California, CD rates

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