Kaiser Federal Bank is offering a special 5.00% APY 60-month certificate of deposit. The minimum deposit is $10,000. It's also available in an IRA. There are also two other CD specials that are not quite as competitive. These include a 3.80% APY 24-month CD and a 3.60% APY 10-month CD. Please see their rate table (pdf) for more details.
I just called and confirmed that these rates are still available. I was told that the rates could change any day. The CD can be opened by mail. They can send you the forms. You'll then have to send them back with copies of your ID. The CSR said they won't lock the rate until they receive the forms in the mail. In addition to a check, they accept wire transfers, but there's an incoming wire transfer fee of $10.
According to the disclosure, the early withdrawal penalty is 180 days of interest for terms of over one year. Terms of one year or less have a 90 day penalty. The CSR had informed me that it was 90 days for all terms, so you may want to verify if this disclosure is still valid.
There's a 7-day grace period when the CD matures. The outbound wire transfer fee is $25.
Branches are located in the California cities of Bellflower, Covina, Fontana, Harbor City, Los Angeles, Panorama City, Pasadena and Santa Clara.
The bank was established in 1953, but has been FDIC insured since 1999 (FDIC Certificate # 35448). The bank has a 3 star rating (performing) at Bankrate.com based on 12/31/07 data. This is down from 4 stars when I reported on this bank in October 2006. The bank has a 5 star rating (excellent) at BauerFinancial based on 3/31/08 data. According to this bank's page, this is the 61st consecutive quarter that the bank has received 5 stars from BauerFinancial. I'm not sure what accounts for the discrepancy between the two ratings.