Dedicated to Deposits: Deals, Data, and Discussion

2.02% 12-Month CD & 1.88% Savings Account at American Plus Bank N.A. in California - Local Only

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American Plus Bank, N.A.
American Plus Bank, N.A. is offering competitive rates on its short-term and mid-term CDs. These include a 1.76% APY 6-month CD, a 2.02% APY 12-month CD and a 2.27% APY 24-month CD. Minimum deposit is $1,000. These rates are listed at the bank's rates page as of 11/23/09.

The bank also has competitive rates on its tiered-rate money market and savings accounts. As of 11/23/09, the top rate is 1.88% APY in the savings account with a balance of at least $10,000. When I last reported on this bank in July, the top rate was 2.08% APY so it has a history of competitive rates. The savings account requires a minimum balance of $300 to avoid monthly service charges.

It appears that a branch visit is required to open an account. It's a small one-office bank that was recently established in 2007. The office is located in Arcadia, California which is in the suburbs of Los Angeles.

Since it's fairly new, the bank only has a start-up label at BauerFinancial. However, Bankrate does have a rating for it, and it gives the bank 3 stars (performing) based on 6/30/09 financial data. The bank is a member FDIC (FDIC Certificate # 58469).

Other Competitive Savings Account and CD Rates
  Tags: money market accounts, California, American Plus Bank, N.A., CD rates, savings account

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Comments
Comment #1 by O-Qua Tangin Wann (anonymous) posted on
O-Qua Tangin Wann
Thanks, Banking Guy, for this information.

I checked out their Website. It says they have two locations. The second one is in Rowland Heights, which is also a suburb of Los Angeles.

~O-Qua Tangin Wann

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