4.50% 12-Month and 18-Month CD at Alliance Bank in California

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Update 2/06/09: Alliance Bank has been closed. Please refer to this post for more details.

Alliance Bank is offering a CD promotion with a yield of 4.50% APY for terms of 12 and 18 months. The minimum deposit is $25,000, and the deposit must be new funds. This special doesn't seem to be listed at the bank's website. A reader commented that it was advertised in yesterday's Los Angeles Times.

It appears that a branch visit is required to open an account. Branches are located throughout the Los Angeles metro area.

The bank has very weak financial ratings that measure soundness: zero stars (lowest) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both are based on 6/30/08 data. Alliance Bank has been FDIC insured since 1980 (FDIC Certificate # 23124).

Thanks to the reader who mentioned this CD special in the finding the best deals post.
Comments
4.00% 10-Month CD at a Pennsylvania Bank (Alliance)
Alliance Bank is offering a special 4.00% APY 10-month CD. There's also a special 4% APY 36-month CD, but the 10-month is the one that's most competitive. The minimum deposit is $1,000.

It appears a branch visit is required to open an account. Branches are located in the suburbs of Philadelphia.

The bank has been FDIC insured since 1938 (FDIC Certificate # 29882). It has a 4 star rating (excellent) at BauerFinancial based on 3/31/08 data.



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4.50% Reward Checking Account at a Texas Bank (Alliance)
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Alliance Bank has a reward checking account called Freedom Checking that pays 4.50% APY on balances up to $25,000 (0.75% for above) and refunds ATM fees (up to $50 per cycle) if the following monthly requirements are met:
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  • receive electronic statements
  • maintain valid e-mail address
If these are not met, the rate falls to 0.10%. The minimum initial deposit is $100. There are no minimum...


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Alliance Bank has branches...

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6.98% 36-Month CD at a California Bank - Variable IRA (Alliance Bank)
Update: This CD has ended. Please check the bank's website for the latest CD rates.

Alliance Bank is offering a 6.98% APY 36-month variable rate IRA certificate of deposit (pdf of rate page). The minimum is $500. The interest rate is 6.75%. The rate is tied to the Prime Rate minus 1.5%. There's a 3-month interest penalty for early withdrawals. According to the CSR, this IRA can be opened by mail from any state. Alliance Bank also offers some competitive regular CD rates ranging from 5.50% APY 2-year CD to a...

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