First Republic Bank Adds 28-Month CD Special

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Deal Summary: 28-month CD Special, 1.70% APY, $10k min/$1m max.

Availability: Market area includes California, Connecticut, Florida, Massachusetts, New York, and Oregon

Over the past few years, First Republic Bank (First Republic) has had several competitive long-term CDs and CD Specials, but it’s been more than six months since there has been a noteworthy offering. First Republic is currently running three CD Specials, but only the 28-month CD Special (1.70% APY) is truly competitive. Any of the CD Specials require a minimum $10k deposit, with a $1m balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.70†%$10k-First Republic Bank25 Month CD Special
Accounts mentioned in this post. Rates as of October 22, 2017.

There’s a good news, bad news component to this blog post. First the good news - some First Republic Bank customers previously reported receiving an instant rate bump (20 to 25 bps), when opening a new checking account in conjunction with opening a CD. Now the bad news - according to several CSRs at different branches, any potential rate bump-ups do not apply to CD Specials

As stated on First Republic Bank’s Consumer Account Disclosure brochure, the Early Withdrawal Penalty reads as follows:

If we allow you to terminate a CD or make a partial withdrawal of principal prior to its maturity date, we may impose the following penalty on the amount withdrawn:
(1) six months’ interest for those CDs with a term of one year or less; and,
(2) one year plus three months’ (15 months) interest for those CDs with a term of more than one year.

Thanks to DA reader, JDubs, for posting on this CD special in the Forum.

Availability

Headquartered in San Francisco, First Republic Bank’s market area includes California (both Northern and Southern), Connecticut, Florida, Massachusetts, New York, and Oregon.

The CD Special can be opened in person at any of 69 full-service branches located in California (54), Connecticut (1), Florida (1), Massachusetts (4), New York (8), and Oregon (1). All branches are in or near major cities.

First Republic Bank also provides a "Have Us Contact You" online form, allowing you to choose when and how you are contacted prior to opening an account.

Bank Overview

First Republic Bank has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 0.68% (excellent) as of December 31, 2016 data. In the past year, First Republic Bank has increased its total non-brokered deposits by $13.72 billion, an excellent annual growth rate of 30.87%. Please refer to our financial overview of First Republic Bank (FDIC Certificate # 59017) for more details.

Founded in 1985, First Republic Bank is California’s third largest bank and the 34th largest bank in the country, with assets in excess of $73. billion.

How the CD Special Compares

Given First Republic Bank’s bi-coastal market area, using nationally available CDs is appropriate. Therefore, when compared to the 192 similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, First Republic Bank’s 28-month CD Special APY currently ranks second, regardless of minimum deposit requirements.

The above rates are accurate as of 5/17/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table, or our Rates Map page.

Related Pages: New York CD rates, Boston CD rates, West Palm Beach CD rates, Los Angeles CD rates, Palm Springs CD rates, San Francisco Bay CD rates, Portland CD rates, San Diego CD rates, Santa Barbara CD rates, 5-year CD rates

Comments
First Republic Bank Raises Rates On Long Term CDs
Comments (1)
POSTED ON FRIDAY, NOVEMBER 25, 2016 BY KEN TUMIN
Availability: Market area includes California, Connecticut, Florida, Massachusetts, New York, and Oregon

I have written several times about First Republic Bank’s CD Specials and competitive long-term CD rates over the past few years. It’s been more than a year since First Republic Bank had any notable offerings. In a recent Forum post, DA reader, ChasR, observed that,

Since I last wrote about the 5- and 6-year CDs in July 2015, both CDs experienced a year-long series of rate drops, which eventually resulted in a loss of 100 basis...

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First Republic Bank Offers 33-month CD Special (All Branches)
Comments
POSTED ON FRIDAY, JULY 3, 2015 BY KEN TUMIN

UPDATE 7/9/15: The 33-month CD Special is no longer available.

Availability: Market area includes Connecticut, California, Florida, Massachusetts, New York, and Oregon

In May, I wrote about First Republic Bank’s 30-month CD Special (1.50% APY); that promotional offer has expired, but First Republic Bank has recently added a 33-month CD Special (1.75% APY).

The minimum opening deposit is $10K, with a $1M maximum balance cap. The 33-month CD Special is available throughout First Republic Bank's market area.

As stated on First Republic Bank’s...

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First Republic Bank Offers 30-month CD Special (All Branches)
Comments
POSTED ON SATURDAY, MAY 9, 2015 BY KEN TUMIN

UPDATE 5/13/2015: First Republic Bank raised the rates on its 5-Year CD (2.20% APY) and 6-Year CD (2.25% APY) today. These rate increases make both CDs competitive when compared to nationally available CDs.

Availability: Market area includes Connecticut, California, Florida, Massachusetts, New York, and Oregon

Earlier this week, First Republic Bank added a 30-month CD Special (1.50% APY) to its product line. The minimum opening deposit is $10K, with a $1M maximum balance cap. The 30-month CD Special is available throughout First Republic Bank's market area.

...
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Higher Long-Term CD Rates in Several States at First Republic Bank
Comments (5)
POSTED ON TUESDAY, JUNE 17, 2014 BY KEN TUMIN

First Republic Bank has again increased its long-term CD rates, and now they are even more competitive. The 6-year CD rate increased 10 basis points to 2.35% APY. The 5-, 4- and 3-year CD rates increased by 25 basis points. The new rates are 2.25% APY for the 5-year CD, 2.00% APY for the 4-year CD and 1.50% APY for the 3-year CD. Minimum deposit is $10,000. These rates are listed at the bank's rates page as of 6/17/2014. Rates may vary by location. You have to select your region...

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First Republic Bank Raises Long-Term CD Rates in Several States
Comments (5)
POSTED ON TUESDAY, APRIL 1, 2014 BY KEN TUMIN

First Republic Bank has recently increased its 5-year and 6-year CD rates, and they’re now competitive. You can get higher rates on the internet, but for those who prefer to open CDs at a branch, these might be appealing. The 6-year CD has a 2.25% APY, and the 5-year CD has a 2.00% APY. Minimum deposit is $5,000. These rates are listed at the bank's rates page as of 4/1/2014. Rates may vary by location. You have to select your region to see the CD rates. I have selected a...

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