4.25% 9-Month / 4.05% 5-Month CD at a California Bank (Pacific Premier)

Pacific Premier Bank has some attractive short-term CD rates. These include a 4.05% APY on terms of 5 and 7 months, and a 4.25% APY on a 9-month term. The minimum deposit is $10,000. The rates are 25 basis points lower for a $1,000 minimum. Please refer to the rate table (pdf) for more details.

Branches are located in the Southern California cities of Costa Mesa, Los Alamitos, Huntington Beach, Newport Beach, San Bernardino and Seal Beach.

This bank was formerly called Life Bank, but changed name when a recapitalization was done a few years ago. It has a 4-star rating (excellent) at BauerFinancial but only a 2-star rating (below peer group) at Bankrate.com. Both are based on 3/31/08 data. The bank has been FDIC insured since 1983 (FDIC Certificate # 32172).

Thanks to the reader who emailed me info on these CDs and the bank.

Tags: Pacific Premier Bank, California, CD rates