Dedicated to Deposits: Deals, Data, and Discussion

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


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 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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Comment #1 by Anonymous posted on
I had four CD's with the bank, that were opened online earlier this year. Two of them were three month accounts and have matured. Calling Hanmi's internet banking department is a useless exercise. Hold times are sometimes a half hour, and there does not appear to be a tollfree number.

When the first CD came up, I asked them about rolling it, and they noted that the branches are offering higher rates. So I trekked to the office in Northridge (at least I live in Los Angeles) and did confirm that the rates were about .3% higher. The branch VP helped me roll it, but it was not by any means seamless. Took too long to handle the paperwork, and her Korean accent was a challenge to understand.

Two weeks ago my second three month CD came up, and I had decided to cash it out. Again frustration with the internet banking people, who essentially referred me back to one of the branches. Went back to Northridge and closed it out. The same VP helped me, but the process only took ten minutes. However she made no attempt to convince me to keep the money at the bank.

My two other CD's expire in July. No matter what rates they have on renewal, I'm done banking with them. Their service is cold, and I have the distinct feeling the staff is uncomfortable dealing with non-Korean speakers.

Comment #2 by Anonymous posted on
I agree. I have similar experience in Santa Clara, CA branch.

They are cold to non-Koreans. They hardly give the customers undivided attention. They keep speaking on phone and among themselves in Korean.

I guess I too am done with them.

Comment #3 by CTM (anonymous) posted on
I have nearly the exact opposite experience, both with on-line banking support and my local branch, Garden Grove / Brookhurst.
(Mrs. G. Park, in new accounts.)

Opened two of the 4.20%, 6m CDs in January. The first one took ~ 1/2 hour, filling out the paperwork. The second one, opened a week later, took only a few minutes, as I was already in the system.

Opened the on-line savings account, but had problems viewing the two CDs. Called support and left a message. I got a return call in about 5 minutes, and the problem had been fixed.

I have had no problem with a "cultural barrier" or "language barrier" or at Hanmi, Nara or Wilshire, all in Garden Grove.

Comment #4 by Anonymous posted on
I have found the employees at the Santa Clara branch to be very professional, courteous,and knowledgeable. I wouldn't hesitate to open additional accounts with them. There are no language issues and all customers are treated equally!!!!

Comment #5 by Anonymous posted on
I was at the Santa Clara CA branch last Friday opening the installation accounts. The CD rates they showed me were
91-180 days 2.50% APY
181- 270 days 2.80 APY
271 days - 36 months - 2.60 APY

I thought the service was professional and the lady spoke adequate English. It did not bother me nor was I surprised that they spoke Korean to each others.

Comment #7 by Anonymous posted on
I just spoke with a CSR at the Irvine branch (very friendly). The 2.81% 6-month CD is no linger available. They do have a 2.7% one year regular CD though, in addition to 2.5% 9 month and 2.6 12 month CDs that have limited deposit / withdrawal capability. A branch visit will be required for me to convert my current (maturing) internet CD.

Comment #8 by Anonymous posted on
Branch rate for 1 year CD is now 2.35% The promo rates are no longer available.