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4.10% 12-Month CD at a California Bank (Temecula Valley)

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Update 8/09/08: CD rates have gone up by 10 basis points. The title has been modified to reflect this change.

Temecula Valley Bank is offering a CD promotion with 3 competitive rates: 4.00% APY 12-month, 3.75% APY 9-month and 3.50% APY 6-month. The minimum deposit is $10,000, and the money must be new to the bank.

The bank also has a fairly good deal on a 1-year liquid CD with a yield of 3.75% APY. The lower rate buys you the ability to make additional deposits of $1,000 or more during the term and a one-time chance to increase the rate during the term if rates rise. There's no mention of any penalty-free withdrawal option. Without such an option, you may be better with the plain 4% 12-month CD.

It appears a branch visit is required to open an account. Branches are located in the California cities of Temecula, Murrieta, Corona, Carlsbad, El Cajon, Escondido, Fallbrook, Rancho Bernardo, San Marcos, Solana Beach and Ontario.

The bank has a 3 star rating (adequate) at BauerFinancial based on 3/31/08 data. It has been FDIC insured since 1996 (FDIC Certificate # 34341).

  Tags: California, CD rates

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