Dedicated to Deposits: Deals, Data, and Discussion

5.00% 25-Month CD at Pacific Capital Bank in California Continues


Update 11/04/08: The 5% 25-month CD special has ended. The special is now a 5.00% APY 60-month CD. Please refer to the banks' websites for the latest rates.

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 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.

  Tags: California, CD rates, IRA rates

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Comment #1 by goldsheet (Bob) (anonymous) posted on
goldsheet (Bob)
Branch visit is required. I emailed them and they promptly left a message on my answering machine and sent an email. I drove up to Encino on September 26th to open 25 month CD and the CSR was excellent.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Glad to read of the good customer service.

Comment #3 by are your pets fixed (anonymous) posted on
are your pets fixed
I opened a 25 mo CD on September 29th at First Bank in San Luis Obispo. There were no crazy hoops to jump through, and customer service was excellent. I'm guessing that goldsheet above went to Santa Barbara Bank and Trust. So two different banks with this group and great service.