4.10% 12-Month CD at a California Bank (Universal).

Update 7/26/08: This CD is no longer listed at the bank's website. Please check with the bank for the latest specials and rates.

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.

Tags: California, Universal Bank, CD rates