2.24% 12-Month CD & 2.72% 24-Month CD at City Bank - Washington State Only

City Bank is offering some very competitive CD rates. For a minimum deposit of $500, the CD rates as listed in the bank's rates page as of 9/17/09 include:

• 1.52% APY 3 months
• 1.84% APY 6 months
• 2.24% APY 12 months
• 2.72% APY 24 months
• 2.97% APY 36 months
• 3.18% APY 48 months
• 3.48% APY 60 month

Higher rates are available for Jumbo short-term CDs with a $100,000 minimum. These rates as of 9/17/09 include:

• 1.62% APY 3 months
• 1.94% APY 6 months
• 2.05% APY 9 months
• 2.32% APY 12 months

All of these can be opened with an online application that allows electronic funding via ACH. However, when you open the application, it states that accounts can only be opened by Washington State residents.

City Bank is based in Lynnwood, Washington. It's a moderate size bank with 8 branches and $1.3 billion in assets. Its ratings for safety and soundness have gone down since my January post on this bank. They're now very weak: 0 star (lowest) at BauerFinancial (based on 6/30/09 data) and 1 star (lowest) at Bankrate.com (based on 3/31/09 data). The bank has been a FDIC member since 1974 (FDIC Certificate # 21521).

Thanks to the reader rav who mentioned this bank in the comments. If you find a good rate at a bank or credit union, please leave a comment at the bank deals hub.

Other Competitive Certificate of Deposit Rates

• My weekly list of hot nationwide and local CD deals
• My weekly list of all nationwide CD deals
• Index of state CD and bank deals

Tags: Washington, CD rates