Luther Burbank Savings (CA) Offers Savings And Checking Combo


Availability: California

Luther Burbank Savings is currently marketing its More Savings (up to 1.40% APY) and High-End Checking (up to 0.40% APY) combination promotion. Both accounts offer tiered rates, broken down as follows:

    More Savings

  • 1.40% APY – balances of $250k+
  • 1.25% APY – balances of $100k+
  • 1.10% APY – balances of $50k+
  • 1.00% APY – balances of $1k+

    High-End Checking

  • 0.40% APY – balances of $50k+
  • 0.30% APY – balances of $25k+
  • 0.20% APY – balances of $10k+
  • 0.10% APY – balances of <$10k+

The minimum opening deposit for either account is $1k of new money, and accounts must be opened simultaneously to qualify for the promotional rates. The fine print states,

To be eligible for the More Savings account, you must open a High-End Checking
account and maintain a daily balance of $10,000, you must also establish a
monthly recurring ACH credit or debit transaction in the checking account.

A minimum daily $10k balance in the High-End Checking account is required to waive the monthly service fee. There is no rate guarantee for either account, with rates “subject to change after the account is opened without notice.”

I’d like to thank DA reader, me1004, for his Forum post about this promotion. By sharing deals that aren’t readily available on an institution’s website, our readers make invaluable contributions to


Headquartered in Santa Rosa, Luther Burbank Savings’ market area is Northern and Southern California, specifically the San Francisco and Los Angeles areas.

The More Savings and High-End Checking promotion is not listed on the Bank’s website, so I contacted a couple of branches to confirm the information listed in the Los Angeles Times advertisement. The CSRs stated that this promotion is available throughout the market area.

Opening an account with Luther Burbank Savings can be done in-branch or by phone. The Bank also requires two forms of identification when opening an account, one of which must be state-issued as proof of California residency.

Luther Burbank Savings has five Southern California branches located in Beverly Hills, Burbank, Encino, Long Beach, and Pasadena, and four Northern California branches located in Los Altos, San Jose, San Rafael, and Santa Rosa.

Bank Overview

Luther Burbank Savings (FDIC Certificate # 32178) has an overall health rating of "A+" at, with a Texas Ratio of 1.10% (excellent), based on March 31, 2016 data. In the past year, Luther Burbank Savings has increased its total deposits by $82.54 million, an above average annual growth rate of 2.65%. Please refer to our financial overview of Luther Burbank Savings for more details.

Established in 1982, Luther Burbank Savings is a privately-owned bank with branches throughout California. The Bank was named in honor of Luther Burbank, a Santa Rosa resident and horticulturalist, who introduced over 800 varieties of flowers. He was also responsible for the Russet Burbank Potato, the most widely cultivated potato in the U.S. Using Mr. Burbank’s vision of growth and renewal, the Bank focuses on the needs of its customers, as opposed to its public stockholders. Luther Burbank Savings is the 20th largest bank in California, with assets in excess of $4.4 billion.

How the More Savings Account Compares

When compared to the 344 personal Savings Accounts tracked by that are available to California residents, Luther Burbank Savings’ More Savings APY currently ranks first, regardless of minimum or maximum deposit.

The above rates are accurate as of 7/5/2016.

To search for nationwide savings account rates and savings account rates in your state, please refer to the Savings Account rates section of, or our Rates Map page.

Luther Burbank Savings (CA) Offers 2 Competitive CD Specials
Availability: Southern California

Luther Burbank Savings' Southern California branches are currently offering two CD Specials: 7-month CD Special (1.25% APY, checking relationship required) and 30-month Bump Up CD Special (1.50% APY).

The minimum opening deposit for the 7-month CD Special is $1K, with no maximum balance cap. The 7-month CD Special also requires a minimum $5K balance in the associated checking account.

The 30-month Bump Up CD Special has the same $1K minimum deposit and no balance cap. The Bump Up feature is a one-time rate increase (should...

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Hot 30-Month CD Special at Luther Burbank Savings in California

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...

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3-Year CD Special at Luther Burbank Savings in SoCal - Local Only

Luther Burbank Savings is having a CD special at two of its Southern California branches. The bank is offering a 2.00% APY 3-year CD. Minimum deposit is $1,000, and there is no maximum deposit. No checking account is required. This is a limited time offer, and it could end at anytime. It’s not listed on the bank’s website. A reader emailed me news about this special (hat tip!), and I confirmed it with a branch manager today (10/04/2013).

According to the branch manager, the special CD is only available to Southern...

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Special 10-Month CD at Luther Burbank Savings Bank in Beverly Hills, CA - Local Only

Luther Burbank Savings is having a short-term CD special at its Beverly Hills branch. It's a 10-month CD with a 1.50% APY. Minimum deposit is $10,000, and no checking account is required. It's not listed at the bank's website. The reader me1004 posted news of this in the discussion forum on Wednesday, and I called yesterday (11/04/2010) to ensure it's still available. According to the bank rep, it's still available, but he didn't know if it would continue next week. So make sure to call the branch to confirm. A...

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5-Month CD Special at Luther Burbank Savings in Beverly Hills, CA - Local Only

Luther Burbank Savings is offering a special 1.90% APY 5-month CD at its new Beverly Hills branch. Minimum deposit is $10,000. There is no maximum, and no checking account is required. This special isn't listed on the bank's website. A reader emailed me news of this special that he saw in the newspaper on May 27th. I just called the Encino branch and received more details. It's a new-branch special for the Beverly Hills branch. However, that branch is not yet open. The Beverly Hills staff is temporarily housed at...

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