Luther Burbank Savings is having a short-term CD special at its Beverly Hills branch. It's a 10-month CD with a 1.50% APY. Minimum deposit is $10,000, and no checking account is required. It's not listed at the bank's website. The reader me1004 posted news of this in the discussion forum on Wednesday, and I called yesterday (11/04/2010) to ensure it's still available. According to the bank rep, it's still available, but he didn't know if it would continue next week. So make sure to call the branch to confirm. A branch visit is required.
As a comparison to internet banks, the best 12-month CD rate from an internet bank is 1.50% APY at CNB Bank Direct as of 11/05/2010.
Refer to the bank's location page for the address and phone number of the Beverly Hills branch. The bank also has branches in the California cities of Encino, Pasadena, Palo Alto, Pasadena, San Rafael, Santa Rosa and Toluca Lake. Note, this special is only available at the Beverly Hills branch.
Last year the bank was offering a similar CD special at its new Pasadena branch.
Luther Burbank Savings has an overall health score at DepositAccounts.com of 3 out of 5 with a Texas Ratio of 25.40% (above average) based on 6/30/2010 data. Please refer to our financial overview of Luther Burbank Savings for more details. The bank has been a FDIC member since 1983 (Certificate # 32178).
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