Dedicated to Deposits: Deals, Data, and Discussion

4.50% 12-Month and 18-Month CD at Alliance Bank in California

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Alliance Bank
Update 2/06/09: Alliance Bank has been closed. Please refer to this post for more details.

Alliance Bank is offering a CD promotion with a yield of 4.50% APY for terms of 12 and 18 months. The minimum deposit is $25,000, and the deposit must be new funds. This special doesn't seem to be listed at the bank's website. A reader commented that it was advertised in yesterday's Los Angeles Times.

It appears that a branch visit is required to open an account. Branches are located throughout the Los Angeles metro area.

The bank has very weak financial ratings that measure soundness: zero stars (lowest) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both are based on 6/30/08 data. Alliance Bank has been FDIC insured since 1980 (FDIC Certificate # 23124).

Thanks to the reader who mentioned this CD special in the finding the best deals post.

  Tags: Alliance Bank, California, CD rates

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