Top Southern California 18-Month CD Rate at Borrego Springs Bank - Local Only

At the first look of Borrego Springs Bank's rate table, nothing appears noteworthy. However, if you look closer, there's one gem. It's the Jumbo CD with a 18-to-23 month term. It has a competitive rate of 1.50% APY. Minimum deposit is $100,000. The non-Jumbo version has a much lower rate and isn't competitive. This 1.50% APY 18-month CD is listed in the bank's rates page as of 7/14/2011.

I was a little suspicious of this one high rate, so I called the bank yesterday. According to the bank rep, this rate is correct. It's a special rate, and it's not new. It has been around for the last several months. Rates are typically changed on Wednesdays, so this special should continue at least until next Wednesday.

A branch visit is required to open an account. Borrego Springs Bank branches are located in Southern California. One is in La Mesa which is close to San Diego.

The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 9.60% (above average) based on March 2011 data. Please refer to our financial overview of Borrego Springs Bank for more details. The bank has been a FDIC member since 1982 (FDIC Certificate # 24080).

How This CD Rate Compares

The best nationally available 18-month CD rate is 1.55% APY at Alliant Credit Union (as of 7/14/2011). For a bank, the best deal is currently at Incredible Bank which offers a 1.50% APY 19-month internet CD.

Searching for Top CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.