2.38% 16-Month & 2.15% 6-Month Jumbo CDs at Mega Bank in California - Local Only


Update 11/21/09: These CD specials are no longer listed on the bank's website. Please check with the bank for the latest CD specials.

Mega Bank has a CD promotion with some very competitive rates. The best rates are its Jumbo CDs. The regular CD rates are about 30 basis points lower. The Jumbo rates as listed at the bank's promotions page as of 11/06/09 include:
  • 2.38% APY 16-month CD
  • 2.27% APY 12-month CD
  • 2.15% APY 6-month CD
The CD promotion is scheduled to last to 11/15/2009. Update: According to the CSR, the minimum deposit for the jumbo CDs is $100,000, and the minimum for the regular CDs is $2,500.

It appears that a branch visit is required to open an account. Branches are located in San Gabriel and Rowland Heights, California.

The bank has a 3-star rating for safety and soundness (performing) at Bankrate.com based on 6/30/09 financial data. It's labeled as a start-up at BauerFinancial. The bank was established in January 2008, and it has been a FDIC member since that time (FDIC Certificate # 58401).

Other Competitive Certificate of Deposit Rates
Related Pages: CD rates, Mega Bank, Los Angeles

  |     |   Comment #1
Another frustrating minimal website. What is a "jumbo" CD? $25,000? $100,000?

Notice that no other are shown for other CDs or for savings or money market accounts.
Banking Guy
  |     |   Comment #2
Yes, it was frustrating not to see minimums on their promotions page. I just called about this, and I've updated the post.

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