Dedicated to Deposits: Deals, Data, and Discussion

2.10% 12-Month CD at First Choice Bank in California - Local Only


First Choice Bank
First Choice Bank continues to have competitive short-term CD rates. They're down a bit from September, but they continue to be a good deal. Their maturities are in terms of days. The CD with terms from 183 days to 287 days (~6 to 9 months) has a 1.80% APY. The CD with terms of 366 days to 540 days (~12 to 18 months) has a 2.10% APY. Minimum deposit is $5,000. An extra 5 basis points are added for a $50,000 minimum deposit. These rates are not listed at the bank's website. I was going through my old posts, and I noticed it was September since I last checked with this bank. The above rates are valid today (12/03/09), but they're subject to change at anytime. The CSR said these rates have remained the same since October 1st. Since December 1st has passed, hopefully these rates will remain through December.

A branch visit is required for new customers. Branches are located in Cerritos and Alhambra, California.

Unlike many California banks which are offering top rates, First Choice Bank's ratings for safety and soundness are decent: 3 stars (adequate) at BauerFinancial and 3 stars (performing) at Both ratings are based on 6/30/09 financial data. The bank has been a FDIC member since 2005 (FDIC Certificate # 57966).

Update 12/18/09: I called the bank (877-256-9809) and confirmed the above rates are still available.

Other Competitive Certificate of Deposit Rates

  Tags: California, First Choice Bank, CD rates

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