4.25% 6-Month CD at Excel National Bank in CA - Nationally Available


Update 9/17/08: The yield on the 6-month CD has fallen to 3.50% APY.

Excel National Bank is offering a 4.25% APY 6-month CD. The minimum deposit is $10,000, and it's available for both personal and business CDs. The bank also has a competitive money market account with a yield of 3.50% APY on balances over $10K.

There's a link at the bottom of the rate table to a personal CD application in PDF format. The application makes it appear that the CD can be opened by mail or fax without a branch visit. At the bottom of the application, the instructions state that they require a copy of your driver's license and a second form of ID such as a credit card. I don't see any instructions for wire transfers. The fees page lists a $25 cost for incoming wire transfers and $30 for outgoing domestic wires. If you're going to mail or fax in the application, I would recommend you to first contact the bank for more details.

Both financial rating services give an average rating for financial health: 3 stars (adequate) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both are based on 3/31/08 data.

The office is located in Beverly Hills, CA. The bank has been FDIC insured since 2005 (FDIC Certificate # 57734).
Related Pages: CD rates

Anonymous   |     |   Comment #1
Rated dropped today to only 3.5%