Dedicated to Deposits: Deals, Data, and Discussion

5.00% 60-Month CD at Pacific Capital Bank in California


Update 1/06/09: The 5% CD is no longer listed on the websites.

Pacific Capital Bank, N.A. continues to offer a special CD with a 5.00% APY and a 60-month term. Minimum deposit is $1,000, and it's available as a consumer, IRA and business CD. Other shorter-term CD specials are also available but their rates are much less competitive with yields under 4%.

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 this 5% CD promotion as of 12/18/08.

My last post on this bank was in October when it was offering a 5% 25-month CD. This ended in November. Two readers who opened these CDs commented that they received great customer service from this bank.

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's ratings for soundness have gone down a bit since my last post but they remain fair: 3 stars (performing) at and 3 stars (adequate) at BauerFinancial. Both are based on 9/30/08 data. The bank has been FDIC insured since 1960 (FDIC Certificate # 18169).

  Tags: California, CD rates, IRA rates

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Comment #1 by Anonymous posted on
I called Pacific Capital Bank and they said you must physically go to go the bank to open an account. No accounts opened by mail or internet.