Dedicated to Deposits: Deals, Data, and Discussion

2.50% 6-Month CD at Luther Burbank Savings in California - Local Only

POSTED ON BY

Luther Burbank Savings
Luther Burbank Savings is offering a special 2.50% APY CD with a 6-month term. Minimum deposit is $10,000. This special doesn't seem to be listed at the bank's website. A reader mentioned seeing it advertised in yesterday's LA Times. I just called the bank's Pasadena branch, and the rep said they do require a branch visit. They update their rates on Mondays so this special should last at least through Friday (6/12/09).

Branches are located in the California cities of Encino, Palo Alto, Pasadena, San Rafael, Santa Rosa and Toluca Lake. If you're interested in this CD, I recommend calling your nearest branch to confirm the special. Update: A reader has just reported that this CD special is only available at the Pasadena branch.

Last year the bank had been offering similar short-term CD specials. One thing to note about those specials is that they didn't last long.

The bank continues to have strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 12/31/08 data. The bank has been FDIC insured since 1983 (Certificate # 32178).

Thanks to the reader who emailed me info on this special.

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  Tags: California, Luther Burbank Savings, CD rates

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Comments
2 comments.
Comment #1 by Anonymous posted on
Anonymous
I called the Palo Alto Branch of Burbank.
This CD is ONLY availiable by a visit to the Pasadena office.

This is a new branch, so they are offering a special rate.

Not availiable elsewhere.

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Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks. I've updated the post. I happened to call the Pasadena branch by chance, and I had forgotten to ask if it were available at all of their branches. After I called, I noticed that the Pasadena branch was new since my last post, and I had a feeling it may be specific to just that branch.

1