Luther Burbank Savings is advertising a very good CD deal in California. It’s a 30-month CD with a 2.00% APY. Minimum deposit is $1,000, and new money is required. The CD isn’t listed on the bank’s website. DA member me1004 saw it advertised in the LA Times and was nice enough to post on it in the forum. He also scanned the ad. I posted the scan at this link. There’s also an 18-month CD special with a 1.10% APY.
The LA Times ad only lists the bank’s Southern California branches in the cities of Beverly Hills, Encino, Pasadena and Burbank. The bank also has branches in Northern California. I called two of those branches yesterday (San Jose and San Rafael), and I was told they are also offering this 2% 30-month CD special. It may not be the case for all of their Northern California branches. So if you’re interested in this CD, you should call your local branch. The official at the San Jose branch said the 30-month special was scheduled to end on June 30. The official at the San Rafael branch would not provide an end date.
These CD specials can only be opened in person at one of the bank’s branches (all account owners must be present). The bank requires two forms of identification. One of them must be a state issued driver’s license or identification.
Please refer to our map of Luther Burbank Savings branches for the location details.
The bank has a health grade at DepositAccounts.com of an A with a Texas ratio of 3.72% (excellent) based on March 2014 data. Please refer to our financial overview of Luther Burbank Savings for more details. The bank has been a FDIC member since 1983 (FDIC Certificate # 32178).