Dedicated to Deposits: Deals, Data, and Discussion

4.15% 6-Month CD at Excel National Bank


Excel National Bank is offering a 4.15% APY 6-month CD. The minimum deposit is $10,000, and it's available for both personal and business CDs. The bank also has a competitive money market account with a yield of 3.60% APY on balances over $10K.

My last post on this bank was in September when it was offering a 4.25% 6-month CD.

There's a link at the bottom of the rate table to a personal CD application in PDF format. The application makes it appear that the CD can be opened by mail or fax without a branch visit. At the bottom of the application, the instructions state that they require a copy of your driver's license and a second form of ID such as a credit card. If you're going to mail or fax in the application, I would recommend you to first contact the bank for more details.

The bank's rating for soundness has fallen at Bankrate from 3 stars (performing) to 2 stars (below peer group). This latest rating is based on 6/30/08 data. The rating has stayed the same at BauerFinancial with 3 stars (performing). This is also based on 6/30/08 data.

The office is located in Beverly Hills, CA. The bank has been FDIC insured since 2005 (FDIC Certificate # 57734).

Other Certificate of Deposit Rates

Corus Bank used to be tied with Excel for the 6-month CD yield, but Corus Bank recently cut its CD rates. Its 6-month CD yield is now only 4% APY. BankUnited had been offering a 4.40% APY 7-month CD, but this also ended. The 7-month yield is now only 3.80% APY.

As you can see in my weekly summary, the only bank to have a higher 6-month yield is ISN Bank which is offering 4.18% APY. Christian Community Credit Union, a non-federally insured credit union, continues to offer 4.50% APY on terms from 7 to 18 months for new members.

  Tags: California, CD rates

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