Dedicated to Deposits: Deals, Data, and Discussion

2.81% 6-Month CD & 2.60% 12-Month CD at Hanmi Bank in California - Local Only

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Hanmi Bank
Update 6/16/09: The 2.81% CD appears to be over, but according to an Irvine branch CSR yesterday, they still have a 2.70% APY 12-month CD. Please contact Hanmi Bank for the latest CD rates.

Hanmi Bank is offering some competitive CD rates at its branches. These rates don't seem to be listed at the bank's website. A reader emailed me info on these, and I just called for additional info. I'm afraid I had a little trouble understanding the CSR, so I called two other branches. I was told slightly different rates for the 6- and 9-month terms. These ranged from 2.51% to 2.81% APY. All three had the same 12-month CD rate of 2.60% APY. Minimum deposit is $1,000. These rates are valid as of 6/01/09, and are subject to change at any time.

The above rates are NOT the internet CD rates. They're branch rates, and they require a branch visit. Their internet CD rates are lower, but still fairly competitive. The rates include a 2.53% APY 12-month CD and a 2.28% APY 9-month CD. They also have an Internet Savings account with a 1.76% APY and a reward checking account with a 2.53% APY for up to $25K (see post). These rates are listed at the bank's internet accounts page as of 6/01/09. There's an online application via the Andera service that allows ACH funding, but you must be a California State resident to qualify.

Hanmi Bank also continues to offer competitive rates on its Installment Savings Accounts (see post).

Branches are located in several California cities including Los Angeles, Irvine, San Diego, Rancho Cucamonga, San Francisco and Santa Clara.

Hanmi Bank's ratings for safety and soundness are a little weak: 3 stars (adequate) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both are based on 12/31/08 financial data. As I recommend with any bank, it's best to stay under the FDIC limits. The bank has been FDIC insured since 1982 (Certificate # 24170).

Thanks to the reader who emailed me news of these CDs.

Other Top Certificate of Deposit Rates

For high 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.

  Tags: California, CD rates, Hanmi Bank

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