First Republic Bank continues to offer a few good CD deals. Some of the rates are down from last month, but they remain competitive. Most of the top rates are CDs with mid and long terms. These include 3.00% APY for 2 years, 3.50% APY for 3 years, 3.75% APY for 4 years and 4.00% APY for 5 years. Minimum deposit is $5,000. There's also a 10-month liquid CD with a fair rate of 2.05% APY. Minimum deposit is $10,000. Refer to this previous post for details about the liquid features.
These rates are listed in the bank's rate table as of 5/04/09 for certain parts of the country. You have to enter your zip code to see the table. The above rates were based on a Los Angeles zip code. In the past these rates have been the same for all of the areas where they have branches.
First Republic has branches located in nine major metropolitan areas: San Francisco, Los Angeles, Santa Barbara, Newport Beach, San Diego, Las Vegas, Portland, Boston and New York City.
First Republic is a division of Merrill Lynch Bank & Trust Co., FSB which is a member FDIC (FDIC Certificate # 34571). Merrill Lynch was acquired by Bank of America last year, and a reader mentioned in the last post that Bank of America has let it be known in February that it seeks to sell First Republic. Merrill Lynch Bank & Trust Co.'s financial ratings for soundness are fair: 3 stars (adequate) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 12/31/08 financial data.
Thanks to the reader who mentioned these latest CD rates in the Daily Deals & News Post.
Other High Certificate of Deposit Rates
For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.