CapitalSource Bank has made some changes to its CD rates. First, they changed the promotional CD from a 9-month term to a 6-month term. This has a 0.85% APY for a $10,000 minimum deposit. Second, the 18-month CD yield increased from 1.01% to 1.05% APY. These are certainly not big changes, but the changes do make the CDs a little more attractive to some savers. These CDs are listed in the bank’s rates page as of 7/16/2013.
Above the bank’s rate tables, there’s now an “Open-Now” link. Clicking on this link takes you to the online application. The first page of this application describes who is eligible to open an account:
We welcome all residents of the United States to apply for Certificate of Deposit, Savings and Money Market accounts
CDs can also be opened at one of the bank’s branches. CapitalSource Bank branches are located throughout Central and Southern California. Some of the cities include Los Angeles, Fresno, Bakersfield, Hanford, Santa Barbara and Redlands.
The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 2.82% (excellent) based on March 2013 data. Please refer to our financial overview of CapitalSource Bank for more details. The bank has been a FDIC member since 2008 (FDIC Certificate # 58878).
How These CD Rates Compare
The best 6-month CD rate at an internet bank is currently 0.88% at Doral Direct. The best 18-month CD rate is 1.10% APY at GE Capital Bank. Even though it’s not the best rate, Doral Direct has a good deal on its 18-month CD. The yield is very competitive at 1.02% APY, and there is a promotional offer that allows a penalty-free withdrawal (see my Doral Direct promo CD review). These rates are accurate as of 7/16/2013.
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.