Competitive CDs and Money Market Account at American Plus Bank in CA - Local Only

American Plus Bank, N.A. continues to offer competitive rates on its short-term and mid-term CDs. These include a 1.64% APY 6-month CD, a 1.90% 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 the morning of 1/29/2010.

The bank also has competitive rates on its tiered-rate money market and savings accounts. As of 1/29/2010, the top rate is 1.78% APY in the savings account with a balance of at least $10,000. Last year the top rates were 1.88% APY in November and 2.08% APY in July 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 two-office bank that was recently established in 2007. Its headquarters is located in Arcadia, California. The bank appears to have recently opened a branch at Rowland Heights.

The bank's ratings for safety and soundness are above average: 4 stars (excellent) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 9/30/09 financial data. The bank is a member FDIC (FDIC Certificate # 58469).