Universal Bank is offering a 4.10% APY 12-month CD. The minimum deposit is $25,000. There's also a special "CD Builder" account with a top yield of 3.80% and a term of one year. It allows unlimited deposits and withdrawals of interest without penalties or fees. This 3.80% APY requires a $100K balance so it would be more appropriate for joint accounts.
These rates are listed in the bank's rate table. Note, the 4.10% APY is listed for the tier with balances from $1K to $10K. However, the corresponding interest rate is only 1.98%, and the tier between $10K and $25K has an APY of only 2.20%. So it appears the low tier 4.10% is a mistake.
It appears that a branch visit is required to open accounts. Branches are located in the California cities of Los Angeles, West Covina, Rosemead, Monterey Park, Arcadia and Orange.
The bank has a 3-star rating (adequate) at BauerFinancial based on 3/31/08 data. It has been FDIC insured since 1954 (FDIC Certificate # 30722).
Thanks to the reader who mentioned this bank in the finding the best deals post.