Pacific Capital Bank, N.A. continues to offer a special CD with a 5.00% APY and a 25-month term. The minimum deposit is $1,000, and it's available as a consumer, IRA and business CD.
I first posted on this deal in September. As I mentioned in that post, Pacific Capital Bank operates 48 branches under 5 other bank names. Each of these 5 have their own webpage. The links to all 5 are located on Pacific Capital Bank's homepage. The front of each webpage lists these CD promotions.
A reader just reported that the 5% CD at First Bank of San Luis Obispo (one of the 5 bank names) is scheduled to end on November 3, 2008. So if you want to lock in 5% for 25 months, your time is running out.
It appears that a branch visit may be required to open an account. Branches are located in the following California counties: Los Angeles, Monterey, San Benito, San Luis Obispo, Santa Barbara, Santa Cruz and Ventura.
Pacific Capital Bank has some decent financial ratings for soundness: 4 stars (sound) at Bankrate.com and 3.5 stars (good) at BauerFinancial. Both are based on 6/30/08 data. The bank has been FDIC insured since 1960 (FDIC Certificate # 18169).
Thanks to the reader who emailed me news of this CD.