Dedicated to Deposits: Deals, Data, and Discussion

4.25% CD for Terms of 3 to 6 Months at Luther Burbank Savings

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Luther Burbank Savings
Update 10/28/08: These CD specials have ended. Please check with the bank for the latest rates and specials.

Luther Burbank Savings is offering a special CD with a yield of 4.25% APY for terms of 3 to 6 months. The minimum deposit is $10,000. This special deosn't seem to be listed at the bank's website. A reader emailed me the newspaper ad of this special.

It appears that a branch visit is required. Branches are located in the California cities of Encino, Palo Alto, San Rafael, Santa Rosa and Toluca Lake.

Earlier this year the bank had been offering several short-term CD specials. One thing to note about those specials is that they didn't last long.

The bank has some decent financial ratings for soundness: 5 stars (superior) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 6/30/08 data. The bank has been FDIC insured since 1983 (Certificate # 32178).

Thanks to the reader who emailed me this ad.
  Tags: California, Luther Burbank Savings, CD rates

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Comments
2 comments.
Comment #1 by Anonymous posted on
Anonymous
On October 24th this promotion ended. It only lasted two weeks. That is consistant with Luther Burbank by the time it gets to the public it has ended. Very disappointing.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks. They do seem to have very short specials.

1