Dedicated to Deposits: Deals, Data, and Discussion

5.00% 7-Month CD at Guaranty Bank in Los Angeles


Update 10/20/08: This CD special has expired. Please check the bank's website for the latest rates and specials.

Update 9/30/08: This special CD has been extended. Please refer to this post for more details.

Guaranty Bank is offering a special 5.00% APY 7-month CD for Los Angeles County residents. The minimum deposit is $1,000, and there's no maximum limit.

It's not listed at the bank's website. Readers have reported that it's advertised in today's LA Times. Guaranty Bank has set up a special number for this CD at 1-800-444-5091. I was told this number when I called the main number listed at their contact page.

Update 9/23/08: Guaranty Bank now has a webpage for this promo. I called and the CSR said this promo is scheduled to last through September. It's still only available by phone for LA residents. The promo page has another phone number (877-656-8435).

The CD is only for Los Angeles County residents. Their nearest branches are in Riverside County, so the CD can be opened by phone or mail. According to the CSR, they can take your info by phone, initiate the ACH from your existing checking account, and mail you the signature card. You can also choose to mail a check. They need to receive the funds within 7 days and the signature card within 14 days to guarantee the rate. The signature card does not need to be notarized.

Update: Exceptions to this LA-County-Only policy have been reported by readers. See comments below for examples.

At maturity, I was told they require written instructions if you choose not to renew. This can be faxed or mailed. I was told they can send you the funds by ACH or by check. Both are free. According to the CSR, wire transfer was not an option.

This special CD is scheduled to last at least through this week. According to the CSR, Guaranty Bank is looking to expand into LA County, and this is intended to start building a customer base.

For those in California outside LA County, Guaranty Bank has a decent 6-month CD special with a yield of 4% APY. There's also a 4% 12-month special CD for those in Texas. I posted on this in August.

There may be another reason for this CD special. The bank has some weak financial ratings: 2 stars (problematic) at BauerFinancial and 1 star (lowest) at Both are based on 6/30/08 data.

Guaranty Bank's headquarters is in Austin, Texas. It has $15.9 billion in assets. The bank has been FDIC insured since 1988 (FDIC Certificate # 32618). Note, this is different than the Guaranty Bank at that's based in Wisconsin.

Thanks to the readers who sent me info on this special.

  Tags: California, CD rates

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Comment #1 by Anonymous posted on
I called the special 800 number this afternoon (9/16) and was able to complete the application for the 7 month CD over the phone. I *do not* live in Los Angeles County! The representative told me they are making exceptions, but I'm not sure what the criteria is. Anyway, the CD packet is being mailed today and there are several ways to fund it including an ACH transfer. NOTE: they *did* ask how much I wanted to invest prior to making the "exception". YMMV.

Comment #2 by Anonymous posted on
This is ALSO not the same bank as the Guaranty Bank in Colorado, FYI...

Comment #3 by Anonymous posted on
They are also making an exception for me.
I called the special # and requested to file the application over the phone. The Rep very nicely took my info and then asked if i lived in LA County? I said, no. She asked "how much I wanted to invest, then asked her supervisor if they could make an exception.
The signiture card is in the mail. :)

Comment #4 by Anonymous posted on
I live in LA County but was told that the reason they've expanded it is they realized that people outside LA County read the Los Angeles Times (where it was advertised)!

They also said today (Thursday 10-2) that the APY is essentially guaranteed through Saturday (when the phones close at 2pm PT) and may be reset lower on Monday assuming they've reached their financial goal.

Comment #5 by Anonymous posted on
The web page linked in this article now shows 4.5%