Dedicated to Deposits: Deals, Data, and Discussion

2.60% 12-Month Liquid CD at Independence Bank - California Only


Update: The 2.60% APY now only applies to the regular 12-month CD.

Independence Bank is offering a 2.60% APY on its 12-month liquid CD. Minimum deposit is $1,000. The rate is listed at the bank's rate table as of 3/19/09.

The 2.60% APY isn't the best rate, but the liquid features make this a much better deal. According to the bank's Liquid CD Page, the liquid features include up to 1 withdrawal per month and unlimited deposits. According to the small print, the minimum withdrawal amount is $1,000, and a minimum balance must be maintained or a penalty will be assessed.

The "Apply Now" button on the rate table takes you to the application instructions. There's an application form that can be printed and mailed. Only California residents are eligible to apply. Branches are located in Newport Beach, San Juan Capistrano and Fountain Valley.

Independence Bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 12/31/08 data) and 2 stars (below peer group) at (based on 9/30/08 data). The bank has been FDIC insured since 2004 (FDIC Certificate # 57688).

  Tags: California, Independence Bank, CD rates

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Comment #1 by bob (anonymous) posted on
This doesn't look to be available anymore. The rates page only shows a 6 month liquid @ 1.75. The 12 month is a regular cd

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks. Yup, it looks like they just updated it this morning.